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The New Deal

The New Deal. The “Old Deal”. What?. President Hoover’s reaction to the Great Depression. President Herbert Hoover. The “Old Deal”. What did he want to do?. Let the business cycle take care of things. Refused to create government programs until it was too late. The Bonus Army 1932.

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The New Deal

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  1. The New Deal

  2. The “Old Deal” What? President Hoover’s reaction to the Great Depression President Herbert Hoover

  3. The “Old Deal” What did he want to do? Let the business cycle take care of things Refused to create government programs until it was too late

  4. The Bonus Army 1932 • 25,000 WWI veterans Who? What? Marched to Washington D.C. to get a $ bonus they were supposed to get in 1945

  5. The Bonus Army 1932 • Called out the troops and dispersed the army What did Hoover do?

  6. The Election of 1932 What? Roosevelt offers a “New Deal” for America Roosevelt wins with 60% of the vote

  7. Roosevelt’s New Deal What? Programs meant to help the country by getting the government involved in the economy Meant to do 3 things 1. Relief - help people out in the short term 2. Recovery - get the economy back on its feet 3. Reform - keep this from everyhappening again

  8. Bank Holiday - First Step Why? Many banks had failed, wiping out families’ savings People lost confidence in the banks Depositors Congregate Outside Closed Bank

  9. Next Step - “Alphabet Soup” • In the first 100 days of his administration Roosevelt passes tons of legislation. (First New Deal) Hundred Days Alphabet Soup The agencies he creates (like AAA, CCC, TVA, FERA, FDIC)

  10. Next Step - “Alphabet Soup” • Insurance for the $ you put in banks FDIC - Federal Depositors Insurance Corp. Protected people’s savings Bank Employee Checks Depositor's Account

  11. AGRUCULTURAL ADJUSTMENT ACT (AAA) - passed in 1933 to aid farmers. AAA had farmers cut back on crop production by paying them equivalent SUBSIDIES (paid not to produce) The bad side: 1) food production down when millions were starving 2) Black sharecroppers were hurt

  12. His Greatest Mistake Packing the Supreme Court What? Increase the # of Supreme Court justices from 9 to 15 Why? Kept declaring his programs unconstitutional (including NRA, AAA, SEC, etc.)

  13. The New Deal - Pros and Cons Pros Restored optimism and hope to Americans Provided necessary relief to many Cons Did not really fix the depression Left the nation with much debt Left people too dependent on government (?)

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