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The New Deal (make sure you watch any linked videos)

The New Deal (make sure you watch any linked videos). The First New Deal. In 1932, President Hoover ran for reelection. But he had little chance of winning. Unemployment stood at 25 percent. Bank failures had wiped out savings. The hungry waited for food at soup kitchens.

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The New Deal (make sure you watch any linked videos)

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  1. The New Deal(make sure you watch any linked videos)

  2. The First New Deal

  3. In 1932, President Hoover ran for reelection. But he had little chance of winning. • Unemployment stood at 25 percent. • Bank failures had wiped out savings. • The hungry waited for food at soup kitchens. Americans were ready for a change.

  4. https://www.youtube.com/watch?v=QFJB4--Fl3Q (1:30) Hoover’s opponent in the election was Democrat Franklin D. Roosevelt. • Harvard graduate • New York State senator • Assistant Secretary of the Navy • 1920 Nominee for Vice President • Polio survivor (little use of legs) • Only president elected 4 times

  5. The two candidates offered very different approaches to the problems of the Great Depression. Hoover Roosevelt State and local governments and private agencies should provide relief. Leadership should come from the federal government. Roosevelt won in a landslide.

  6. Brain Trust 3 groups in the brain trust: 1. “New Nationalists”- wanted to work with businesses to regulate wages, prices, and production 2. distrusted Big Business and wanted the government to run parts of the economy 3. “New Freedom”- trust busters who wanted competition to set wages, prices, and production To help him plan, FDR sought the advice of a diverse group of men and women.

  7. Together with his “Brain Trust,” Roosevelt moved quickly to carry out his promise of giving Americans a New Deal. First New Deal During his first 100 days in office, 15 bills were passed. The legislation had three goals: relief, recovery, and reform. What is the New Deal? Programs implemented by FDR to help pull America out of the Great Depression.

  8. BRAIN TRUST SIMULATION (please ignore this slide)

  9. Roosevelt first set out to restore confidence in banks FDR declared a four-day bank holiday, closing the banks before more bank runs put them out of business In the first of many fireside chats (radio), FDR explained that his actions were to halt bank failures. http://www.history.com/topics/new-deal/videos/fdr-delivers-first-fireside-chat?m=528e394da93ae&s=undefined&f=1&free=false When the banks reopened, there were no more runs on the banks. FDR ended the gold standard- system in which an ounce of gold could be exchanged for a set number of dollars

  10. FDR took other steps to reform the financial system. Federal Deposit Insurance Corporation (FDIC) Insured bank deposits Securities and Exchange Commission (SEC) Regulated the stock market Such measures helped restore confidence in the economy.

  11. Help for housing/mortgages Home Owner’s Loan Corporation (HOLC) Lengthened the mortgage repayment term and lowered interest rates Farm Credit Administration (FCA) Helped farmers refinance mortgages

  12. Roosevelt then turned to a series of New Deal programs to bring relief to the country. Farmers Relief: • The Agricultural Adjustment Act (AAA) sought to end overproduction and raise crop prices. (pay people not to grow certain crops) • The Tennessee Valley Authority (TVA) built dams to control floods and generate electricity- • http://www.history.com/topics/new-deal/videos/tennessee-valley-authority-cheap-power?m=528e394da93ae&s=undefined&f=1&free=false • http://www.history.com/topics/new-deal/videos/tennessee-valley-authority---natures-power-harnessed?m=528e394da93ae&s=undefined&f=1&free=false Southern Relief:

  13. Many programs focused on job relief (helped unemployed).

  14. The Public Works Administration (PWA)created millions of jobs. Workers built bridges, dams, power plants, and government buildings. These projects improved the nation’s infrastructure.

  15. Roosevelt also took steps to speed economic recovery. • Suspended anti-trust laws • Allowed business, government, and labor to set up rules for their own industries National Industrial Recovery Administration (NIRA)

  16. the Second New Deal

  17. Criticism of the New Deal Not everyone, however, supported the New Deal. Conservatives charged that it was making the government too big/powerful. Such critics formed the American Liberty League. • Destroying free enterprise • Undermining individualism

  18. Some argued that the New Deal did not do enough to redistribute wealth. While conservatives thought the New Deal did too much, others (liberals) took the opposite position. • Socialist Party • American Communist Party

  19. The opponents who gained the largest audience

  20. Despite the critics, the New Deal was popular with most Americans. In his inaugural address, Roosevelt told Americans, “the only thing we have to fear is fear itself.” FDR succeeded in reducing people’s fear, but the depression was far from over.

  21. Though progress had been made toward easing the problems of the Great Depression, Roosevelt knew that much work still needed to be done. In 1935, FDR launched a new campaign to help meet the goals of relief, recovery, and reform. The Second New Deal

  22. As FDR planned a new round of spending, critics charged that New Deal programs, and their high price tags, were wasteful. • Roosevelt abandoned a balanced budget and began spending money we did not have called deficit spending • The federal deficit had soared to $4.4 billion.

  23. The Second New Deal aimed to extend social and economic reforms. TheWorks Progress Administration(WPA) created millions of jobs on public-works projects. • Workers built highways and public buildings, dredged rivers and harbors, and promoted soil and water conservation. • Artists were hired to enhance public spaces.

  24. The Social Security Act created a pension system for retirees. It also provided • unemployment insurance • insurance for victims of work-related accidents • aid for poverty-stricken mothers and children, the blind, and the disabled • http://www.history.com/topics/new-deal/videos/fdr-creates-social-security?m=528e394da93ae&s=undefined&f=1&free=false

  25. Such benefits helped reduce poverty among the nation’s elderly.

  26. Roosevelt also believed that improving the standard of living for industrial workers would benefit the entire economy. • recognized the right of workers to join labor unions • gave workers the right to collective bargaining Wagner Act • set a minimum wage and maximum workweek • outlawed child labor Fair Labor Standards Act

  27. In 1936, the CIO’s United Auto WorkersUnion staged a sit-down strike at General Motors in Flint, MI. After 44 days, GM recognized the new union. This success led to others, and union membership soared.

  28. The New Deal Coalition

  29. Switch of Party allegiance • Republican- • Since Civil War, African Americans had been reliable Republican voters. • This switched when Republicans did very little to help out minorities during the Great Depression. • Election of 1936— • Many African Americans, women, farmers, and immigrants all voted Democrat (FDR) as some New Deal programs tried to tackle their problems. • FDR- appointed some men and women to important positions in the government.

  30. After an overwhelming reelection victory, FDR decided to fight back against the Supreme Court, which had struck down many of his programs. • In 1937, FDR proposed adding up to six new Justices to the Court. • Critics attacked his court-packing plan as an attempt to expand presidential power. • The failed plan weakened Roosevelt politically. • it appeared to interfere with the Constitution’s separation of powers.

  31. Recession of 1937 • -To try and balance the budget, Roosevelt cut government spending on some New Deal programs at the same time the first Social Security taxes were being implemented • -2 million lost jobs • --different opinions on how to fix the problem-- Henry Morgenthau— Favored balancing the budget and cutting spending John Maynard Keynes- Keynesianism- government should spend heavily during a recession

  32. New Deal’s Legacy • -New Deal had limited success in ending the recession • -unemployment remained high and economic recovery did not fully happen until after WWII • -Critics continue to argue that the government became too powerful under the New Deal • -It continues legacy is a debate over how much the government should intervene in the economy or support the disadvantaged. • Crash course: • https://www.youtube.com/watch?v=6bMq9Ek6jnA

  33. New Deal Programs still around today • http://www.britannica.com/list/7-alphabet-soup-agencies-that-stuck-around • Take the Quiz!!– click on the link based on your class period” • A4: • https://docs.google.com/a/bloomfield.org/forms/d/e/1FAIpQLScWuV19BijQTzr2NftbLRS6-mga43WayTZlz8EEjYXVoN8ffA/viewform • B3: • https://docs.google.com/a/bloomfield.org/forms/d/e/1FAIpQLSezNxKKxZFD_3K5sUimW6hUVkVPM8kTfC3vb5VEq9wQsJ3a0A/viewform • B4: • https://docs.google.com/a/bloomfield.org/forms/d/e/1FAIpQLSfImMJ6Iw8XYsT-qFcCP31kU7Osn8S5Oez3UHriAJnCyHFAzg/viewform

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