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FDR’s Depression

FDR’s Depression. The New Deal and the first 100 Days. Election of 1932. Herbert Hoover (R) Franklin D. Roosevelt (D). 16 million votes. 23 million votes. Democrats win the White House, the Senate, and the House of Representatives…

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FDR’s Depression

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  1. FDR’s Depression The New Deal and the first 100 Days

  2. Election of 1932 • Herbert Hoover (R) • Franklin D. Roosevelt (D) 16 million votes 23 million votes • Democrats win the White House, the Senate, and the House of Representatives… • A strong rebuke of Hoover and the Republicans in the wake of the crash and depression

  3. Roosevelt takes office • Before he is inaugurated he gathers the best minds in the economic world to begin to put together a plan for recovery • “Brain Trust” forms the policies of the New Deal • “First 100 Days” has a flurry of bills giving the government more power over the economy.

  4. Banks… “We gotta fix the banks!” • March 5 … declares a bank holiday to prevent any more withdrawls and institute a “cooling off” period for consumers • The government would inspect the finances of the banks in order to restore confidence • Role of the fireside chats • FDIC (Federal Deposit Insurance Corporation) is developed to protect people’s deposits

  5. FDR and the New Deal Video • Play “The New Deal” from the video series 20th Century: a moving visual History

  6. “Alphabet Soup” Programs • SEC – Securities and Exchange Commission • Regulate the stock market to prevent the speculation that caused the crisis • AAA – Agricultural Adjustment Act • Subsidies to destroy crops, milk, food • Why? • How do you think the poor, hungry, and struggling felt about this policy? • CCC – Civilian Conservation Corps • Young men were put to work on projects across the country and were paid $30 / month, but $25 was sent to directly home to the families • NIRA – National Industrial Recovery Act • Money to the states to help create jobs in their area

  7. A product of the CCC • A

  8. Why did people oppose this? • Deficit Spending… • Definition: • Liberal Reaction • Supreme Court • Court packing

  9. Connect this to today! • What are the similarities to the economic crisis we are still dealing with today? How does the government react in the Great Depression compared to today’s crisis?

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