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FDR & The New Deal

FDR & The New Deal. United States History. Franklin D. Roosevelt. Political Career NY Senate, Assistant Sec of Navy under Wilson, NY Gov. Personal Life Battle with polio Wife Eleanor active in politics What America liked about him: Energy and Optimism

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FDR & The New Deal

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  1. FDR & The New Deal United States History

  2. Franklin D. Roosevelt • Political Career • NY Senate, Assistant Sec of Navy under Wilson, NY Gov. • Personal Life • Battle with polio • Wife Eleanor active in politics • What America liked about him: • Energy and Optimism • Creation of Relief Aid to Unemployed in New York • Confidence he could improve economy

  3. The New Deal • Roosevelt’s policies for ending the Great Depression • At Roosevelt’s Inauguration • Most of the nations’ banks on holiday (closing before bank runs would close them down) • 25% of Americans unemployed • “The only thing we have to fear is fear itself…This nation asks for action, and action now”

  4. New Deal Beginnings • The Hundred Days • March 15, 1933 to June 16, 1933 • Congress passed 15 majors acts to resolve economic woes • Roosevelt favored government intervention in economy • Priority #1: Banking System • Emergency Banking Relief Act • Securities and Exchange Commission (SEC) • Federal Deposit Insurance Corporation (FDIC)

  5. New Deal (continued) • FDR creates programs to help with debt • Why? To give people the ability to spend in the economy and not worry as much about debts on mortgages, farms, etc. • Home Owners’ Loan Corporation • Farm Credit Administration • Government Control in the Economy & Environment • Agricultural Adjustment Act • National Industrial Recovery Act & The National Recovery Administration • Tennessee Valley Authority

  6. New Deal (continued) • FDR believed consumption was key to economic growth and unemployed needed a means to become consumers • Thus, he created programs to get people into the workforce • Civilian Conservation Corps • Federal Emergency Relief Administration • Public Works Administration • Civil Works Administration

  7. Success of the New Deal • Did not restore prosperity in America, but did improve confidence in banks, saved homes/farms, helped combat unemployment • Americans embraced FDR’s willingness to experiment and change, which helped restore Americans’ faith in their government and nation overall

  8. Critiquing the New Deal • Government Programs Cost $$$ • How to pay? Deficit Spending • Criticism about hurting business and states’ rights • Creation of American Liberty League to teach necessity of respect for rights of person and property • Challenges to the New Deal • Huey Long: Louisiana governor championing downtrodden(Share Our Wealth) • Father Coughlin: Nationalize banking and inflate the currency (National Union for Social Justice) • Francis Townsend: Pensions with stipulations on spending to stimulate economic growth and get more people in the workforce

  9. Second New Deal • Works Progress Administration • Wagner Act and National Labor Relations Board • Binding Arbitration: Neutral Party hears arguments and decides on the issues • CIO (Committee for Industrial Organization) formed in 1935 • Sit-down strike: Stop working inside plant to prevent replacement workers from taking jobs • Social Security Act

  10. Political Change under FDR • African Americans join Democratic Party • Eleanor Roosevelt & Policies of FDR help fuel switch • African Americans in administrative positions • Women join New Deal Coalition • Frances Perkins: first woman in Cabinet post (Secretary of Labor) • Appointed many other women to federal posts • Role of Supreme Court • Court rulings striking down parts of New Deal piece by piece • “Court-packing plan”

  11. Recession of 1937 • Recovery on track with output approaching 1929 levels, unemployment improving…belief worst is over • FDR decides it is time to balance budget and cuts some programs like the PWA and WPA • By end of 1937, 2 million people out of work • What to do now? • Morgenthau: Balance budget and cut spending • Keynesianism: Spend heavily in a recession to jumpstart economy

  12. Last Hurrah of the New Deal • National Housing Act • Farm Security Administration • Fair Labor Standards Act • By 1939, New Deal had come to an end with Congressional takeover by opponents of New Deal

  13. Recapping the New Deal • Limited success • Unemployment still high • Recovery not complete • Sense of Security • Banks • Business • Individuals • Greater Role in Economy • Mediation between groups (broker state) • “Safety Net” against economic disaster • Critics • Dependency on Government • Government too powerful

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