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AP US History vocabulary list: Difference between revisions
→Great Depression & FDR
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== Great Depression & FDR == | == Great Depression & FDR == | ||
== Stock Market Crash & Hoover Administration == | |||
Notes: | |||
* the value of the New York Stock Exchange was measured in value by the Dow Jones Industrial Average (DJIA, also known as "the DOW"; it is still used, but among other measures); | |||
** the market rose from about 150 in January of 1927 to a peak of 381 in August of 1929. | |||
** it started dropping through September into October, before its precipitous drop to 237 on Oct 29 | |||
** it stabilizied in early 1930, then in May continued a long drop to its low of 41 on July 8, 1932; the DOW did not reach 381 until 1954 | |||
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<ul><li>{{#tip-text:Black Thursday|Thurs., Oct 24, 1929 "sell-off" or panic selling of stocks at the "opening bell" (when the market opened) that led to 11% drop in market value; banks, especially JP Morgan Bank and large investment firms put in high bids to drive up prices, and the market stabilized at the end of the day and Friday, Oct 25, 1929}}</ul></li> | |||
<ul><li>{{#tip-text:|Black Monday|Mon, Oct 28: after the initial panic of Thursday, with instiuttional buying to keep up prices, it seemed that the market had stabilized; however, on Monday, investors who had borrowed money to buy stocks faced "margin calls", which led to massive sell-off and an overall 13% drop in the market;}}</ul></li> | |||
<ul><li>{{#tip-text:|Black Tuesday|Tues, Oct 29, investors panicked and sold at continuously lower prices in order to recover whatever they could, to the point that there were no buyers for many stocks; the market dropped another 12% with the most "volume", or number of sales, ever up until that time; the market continued its decline into the rest of the year}}</ul></li> | |||
<ul><li>{{#tip-text:"buying on margin"|borrowing money to purchase stocks; margin buying allows investors to purchase more stocks than they could with their own money, so if there is much margin buying, it drives up the prices of stocks; the practice became widespread by late 1920s and led to the "speculative bubble" that burst in Oct. 1929}}</ul></li> | |||
<ul><li>{{#tip-text:Hawley-Smoot Tariff|}}</ul></li> | |||
<ul><li>{{#tip-text:Hoovervilles|}}</ul></li> | |||
<ul><li>{{#tip-text:margin call|a "call" is a demand for repayment of a loan to buy stocks, and "margin" refers to the difference between the amount borrowed and the value of the stock; if the stock value is less than the loan amount due, the borrower is "underwater" and will have to sell stocks at whatever price possible in order to "cover", or pay off, the loan; if there is a large sell-off with demands for "margin calls"|}}</ul></li> | |||
<ul><li> | |||
<ul><li>{{#tip-text:speculative bubble|speculative = risky; bubble = unstable rise in prices; so 'speculative bubble' refers to a rise in stock market prices based upon overly optimistic expectations of a continued rise in prices; when the market collapses, the "bubble bursts"}}</ul></li> | |||
=== FDR & | === FDR Administration & Great Depression === | ||
<ul><li>{{#tip-text:100 Days |}}</ul></li> | |||
<ul><li>{{#tip-text:20th Amendment|}}</ul></li> | |||
<ul><li>{{#tip-text:21st Amendment|}}</ul></li> | |||
<ul><li>{{#tip-text:bank run|}}</ul></li> | |||
<ul><li>{{#tip-text:Brain Trust|}}</ul></li> | |||
<ul><li>{{#tip-text:Congress of Industrial Organizations (CIO, started 1938)|a combination started in 1935 as paft of the AFL and United Mine Workers, but which broke away to focus on unksilled industrial workers; the CIO was a strong ally of the FDR administration; the CIO re-merged with the AFL in 1955}}</ul></li> | |||
<ul><li>{{#tip-text:fireside chats|starting in March of 1933, Roosevelt speeches by radio to explain his polices and assure public of confidence in his Adminstration; the first chat regarded the "bank holiday" of March 1933}}</ul></li> | |||
<ul><li>{{#tip-text:Harry Hopkins|}}</ul></li> | |||
<ul><li>{{#tip-text:NRA|}}</ul></li> | |||
<ul><li>{{#tip-text:"New Deal"|}}</ul></li> | |||
<ul><li>{{#tip-text:Francis Perkins|}}</ul></li> | |||
<ul><li>{{#tip-text:Social Security|}}</ul></li> | |||
<ul><li>{{#tip-text:Supreme Court|}}</ul></li> | |||
<ul><li>{{#tip-text:"We have nothing to fear but fear itself"|}}</ul></li> | |||
=== New Deal legislation & Agencies== | |||
<ul><li>{{#tip-text:Emergency Banking Relief Act of 1933|using an emergency WWI law, the Treason Act, FDR closed banks for an eight-day "national holiday" in order to stop "bank runs"; Congress quickly passed the Emergency Banking Relief Act of 1933 in order to allow the emergency authority outside of War authority; the bank holiday had multiple purposes: 1) stop bank runs; 2) allow for the government and the banking system to sort out bank viability ("solvency" = ability to cover all deposits); and 3) rebuild public confidence in the banking system; soon after the banks reopened, Aemricans had redeposited over half the money they had previously withdrawn; the stock market jumnped over 15%, the largest one-day increase in market history}}</ul></li> | |||
<ul><li>{{#tip-text:Congress of | |||
</div> | </div> | ||