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Roosevelt and the New Deal

Roosevelt and the New Deal. Unit 5 Chapter 10. Lecture 4: The First New Deal. A. FDR Takes Office 1. Election of 1932 Republicans re-nominated Herbert Hoover Democrats nominated Franklin Delano Roosevelt FDR won pledging a “new deal for the American people” 2. FDR’s Administration

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Roosevelt and the New Deal

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  1. Roosevelt and the New Deal Unit 5 Chapter 10

  2. Lecture 4: The First New Deal A. FDR Takes Office 1. Election of 1932 • Republicans re-nominated Herbert Hoover • Democrats nominated Franklin Delano Roosevelt • FDR won pledging a “new deal for the American people” 2. FDR’s Administration • Cabinet was nicknamed “The Brain Trust” • FDR was willing to try any idea • FDR’s 3 Goals (aka the 3 R’s) • Relief – provide immediate relief to Americans (short term) • Recovery – improve/stabilize the economy • Reform – fix the economic problems that led to the great depression (long term)

  3. 1932 Presidential Election

  4. B. Fixing the Banks and the Stock Market 1. Emergency Banking Relief Act • Temporarily closed banks • Re-opened when the govt. verified they were stable • Americans regained faith in banks and deposits outweighed withdrawal 2. “Fireside Chats” • FDR’s radio addresses that explained New Deal programs to Americans 3. Securities and Exchange Commission (SEC) • Regulated the stock market; stock prices reflected value of company selling stock 4. Glass-Steagall Banking Act • Set up the Federal Deposit Insurance Corporation (FDIC) that insured deposits in America’s banks; no more bank failures and bank runs

  5. C. Managing Farms and Industry 1. Agricultural Adjustment Act (AAA) • Paid farmers subsidy payments to not grow crops • Lowered supply which increased price of crops 2. National Industry Recovery Act (NIRA) • Suspended antitrust laws; made it easier for corporations to expand and make profits • Established NRA Codes : set prices, established minimum wages , production quality, etc… D. Providing Debt Relief 1. Home Owners Loan Corporation (HOLC) • Govt. refinanced bank mortgages to a lower rate • Helped Americans keep their homes out of foreclosure

  6. E. Relief Programs 1. Civilian Conservation Corps (CCC) • Employed 3 million young men ages 18-25 in the forestry service • Lived in camps and earned $30 a mo. 2. Federal Emergency Relief Administration (FERA) • Gave $ to State govts to fund relief projects • Headed up by Harry Hopkins 3. Civil Works Administration (CWA) • Employed 4 million people in public works project • Built airports, schools, roads, playgrounds, parks and sports fields

  7. Lecture 5: The Second New Deal • Challenges to FDR and the New Deal 1. American Liberty League • Criticized New Deal/FDR for deficit spending in order to create programs • Concerned about the increased role and size of the federal govt. 2. Huey Long • Popular Governor from Louisiana who believed FDR did not go far enough • Promoted “Share our Wealth” plan (take from the rich and give to the poor) 3. Father Coughlin • Catholic priest and radio show personality • Supported heavy taxes on the rich 4. Dr. Francis Townsend • Promoted a plan to provide federal pensions for citizens over 60 years old • Believed it would increase spending and promote job creation

  8. B. The 2nd New Deal 1. Works Progress Administration (WPA) • Spent $11 Billion on 8.5 million workers • Built roads, highways, bridges and airports • Provided work for artist, writers, and stage actors 2. Supreme Court • Targeted and struck down the AAA and the NIRA • FDR retaliated against the Supreme Court through his court packing plan • Asked older justices to retire, if they refused FDR could appoint an additional justice to the Supreme Ct. 3. Social Security Act • Provided retirement pensions to Americans over the age of 65 • Provided payments to the unemployed and disabled

  9. C. Rise of Labor 1. National Labor Relations Act (Wagner Act) • Supreme Ct. took away labor protections in the NIRA • Congress gave workers the legal right to organize unions • Unhappy workers could take their complaints against their employer to arbitration • Labor unions merged together to form the Congress of Industrial Organization (CIO) • CIO launch major strikes in the automobile and steel industry

  10. Lecture 6: New Deal Coalition • Roosevelt’s 2nd Term 1. Election of 1936 • Republicans nominated Alfred Landon • FDR was re-elected with 60% of the popular vote 2. Roosevelt Recession • Economy seemed on the verge of recovery and slumped again in 1937 (the Roosevelt Recession) • Cabinet promoted a solution based on the ideas of economist John Maynard Keynes • During an economic recession the govt. should spend more in order to jumpstart the economy • FDR/Congress approved spending $3.75 billion for the PWA, WPA, and other programs

  11. Last Reforms 1. National Housing Act • Govt. spent $500 million to create low-income housing 2. Farm Security Act • Gave loans to tenant farmers to purchase farms 3. Fair Labor Standards Act • Provided protections to workers, abolished child labor, established a 40 hour work week C. Legacy of the New Deal 1. Role of the Government • Govt. became permanently responsible for providing a safety net for struggling Americans • Increased the size of the government (bureaucracy)

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