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Franklin D. Roosevelt

Franklin D. Roosevelt. The Forgotten Man. It is said that Napoleon lost the Battle of Waterloo because he forgot his infantry. He staked too much upon the more spectacular but less substantial cavalry. Roosevelt Inaugural. Language gives a hint of his direction Must (9) Action (7)

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Franklin D. Roosevelt

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  1. Franklin D. Roosevelt

  2. The Forgotten Man It is said that Napoleon lost the Battle of Waterloo because he forgot his infantry. He staked too much upon the more spectacular but less substantial cavalry.

  3. Roosevelt Inaugural • Language gives a hint of his direction • Must (9) • Action (7) • Leadership (7) • Fail/Failure (6) • Vision (5) • Restore (5) • Accomplish (3)

  4. Roosevelt’s New Deal • 1932 Nomination Acceptance Speech • “I pledge you, I pledge myself, to a new deal for the American people.” • Not a concrete plan, but rather an ideology

  5. New Deal 3 Rs • Relief – for people out of work • Food • Shelter • Medicine / Healthcare • Recovery – for business and the economy as a whole • Employment • Business Regulation • Reform – Economic Institutions • Banking Practices • Stock Market Practices

  6. The Brains Trust • Refers to the group of academic advisers that FDR gathered to assist him during the 1932 presidential campaign • Initially, the term applied to three Columbia University professors • Basically, a group of special advisors • Helped FDR develop an economic plan whose programs became the backbone of the New Deal

  7. The First Hundred Days • Bank Holiday • Banks were closed on March 6, 1933 • Provided government the opportunity to reorganize banks and provide sense of stability • First Fireside Chat • Roosevelt made prolific use of the radio to get his message directly to the people, in language they could understand

  8. Financial Recovery Programs • Emergency Banking Relief Act – authorized government to examine banks during Holiday and determine those that could reopen • Federal Deposit Insurance Corporation (FDIC) – guaranteed individual bank deposits up to $5,000 • Home Owners Loan Corporation (HOLC) – provided refinancing of small homes to prevent foreclosures • Farm Credit Administration – low interest farm loans and mortgages for farmers

  9. Federal Securities Act of 1933 • Often referred to as the "truth in securities" law, the Securities Act of 1933 had two basic objectives: • require that investors receive financial and other significant information concerning securities being offered for public sale; and • prohibit deceit, misrepresentations, and other fraud in the sale of securities.

  10. Philosophy of Roosevelt’s New Deal Programs • "Give a man a dole, and you save his body and destroy his spirit. Give him a job and you save both body and spirit.“ – Harry Hopkins • How does this idea inform the types of recovery programs he will implement?

  11. New Deal Programs • Federal Emergency Relief Act (FERA) • Grants to states for relief projects. Unemployment has reached 14 million-over one quarter of the nation's work force • Agricultural Adjustment Act (AAA) • Sets prices for produce • Provides subsidies for curtailing production of surplus goods

  12. New Deal Programs • Tennessee Valley Authority (TVA) • Construct dams and power plants along the Tennessee Valley • Electricity will go to residents, many of whom lacked it previously • Attract business • Provide efficiencies for farmers and residents • Provide flood control and make navigation easier • Fertilizer will be sold(farm land was badly overused and eroded)

  13. National Industrial Recovery Act (NIRA) • Public Works Administration (PWA) • Several billion dollars to be spent on the construction of public works as a means of • Providing employment • Stabilizing purchasing power • Improving public welfare • Contributing to a revival of American industry

  14. National Industrial Recovery Act (cont’d) • National Recovery Administration (NRA) • Series of fair-practice codes • Eliminate unfair trade practices • Reduce unemployment • Establish minimum wages and maximum hours • Guarantee the right of labor to bargain collectively

  15. New Deal Programs • Reforestation Relief Act • Establishes the Civilian Conservation Corps (CCC) • Provides work immediately for 250,000 young men (18-25) in reforestation, road construction and developing national parks • Proved especially important in states hit hard by the Dust Bowl

  16. Repeal of Prohibition • Campaign promise • Opposed legislation, and saw selling alcohol as a good source of tax revenue • Twenty-first Amendment officially repealed Prohibition in 1933 • Roosevelt was a big drinker, which may have also motivated his desire for repeal

  17. Essential Question • Based upon the types of programs Roosevelt implemented, what can we tell about his view of the role of government during a time of national crisis?

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