Key Terms:
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Brain Trust
- Specialists in Law, economics, and welfare who were Franklin D. Roosevelt's speeches.
New Deal
- Policies of Franklin Roosevelt's administration that sought to fix the problems caused by the Great Depression by providing relief for unemployed and making efforts to start up economic recovery.
Hundred Days
- Referring to the first 100 days of FDR's administration when many reform bills were passed, launching the New Deal.
Glass-Steagall Banking Reform Act
- Part of the New Deal that established the Federal Deposit Insurance Corporation which insured individual bank deposits and ended unstable banking.
Civilian Conservation Corps (CCC)
- Hired young unemployed men to improve the rural out-door environment like maintaining National Parks; passed by the Hundred Days congress.
National Recovery Administration (NRA)
- Early New Deal program designed to help industry, labor, and the unemployed with centralized planning mechanisms that oversaw workers' earnings and working hours to distribute work.
Agricultural Adjustment Administration (AAA)
- New Deal program made to raise agricultural prices by paying farmers not to farm because of the surplus.
Dust Bowl
- The Great Plains region ruined by drought and dust storms leading to the migration of thousands of families to California many zealous New Dealers seeking to help them.
Tennessee Valley Authority (TVA)
- One of the best know New Deal projects; Brought cheap electic power, full employment, low=cost housing, and environmental improvements to people in the Tennessee Valley because of the construction of the new dam.
Social Security Act
- Provided for unemployment and old-age insurance that was funded by a payroll tax on employers and employees; big New Deal accomplishment.
Wagner Act
- Protected the right of labor to organize in unions and to bargain with employers under the New Deal.
Fair Labor Standards Act
- Regulated minimum wages and maximum work hours for workers in interstate commerce. Outlawed labor by people under 16; important New Deal labor legislation.
Congress of Industrial Organizations (CIO)
- Labor organization broken off from the American Federation of Labor to organize unskilled industrial workers.
Court-packing plan
- Franklin Roosevelt's scheme to get a replacement for every member in the Supreme Court for every member over seventy who wouldn't retire.
Keynesianism
- Roosevelt announced this bold program taken from British economist John Maynard Keynes saying that central banks should adjust interest rates and governments should use deficit spending and tax policies in order to have a better purchasing power which would lead to prosperity.