What do you notice? Is this surprising?

1. What do you notice? Is this surprising?

2. Who was FDR? • Prominent NY family; Harvard then Columbia; Corporate Lawyer • 1910 start politics • 1921 contracted Polio • Governor NY (29’-32’) • Cousin T. Roosevelt • “can do” attitude as gov. • Bc of Polio? • "Happy Days Are Here Again"

3. FDR’s Acceptance Speech • "I pledge you, I pledge myself to a new deal for the American people... This is more than a political campaign. It is a call to arms.“ • http://www.youtube.com/watch?v=z9CBpbuV3ok

4. The Lame Duck Period • Inauguration not until March 33’ • Changed with 20th Amendment • The “Brain Trust” • Lawyers, professors, journalists • Create policies prior to inauguration

5. What is Roosevelt saying? • Primarily this is because rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence....The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit

7. The “New Economic Constitutional Order” • Larger federal role in fixing the economy • 15 pieces of legislation in first 100 days • Relief, recovery & reform

8. Monday, February 11, 2013 • How does Roosevelt’s inaugural address differentiate him (separate him) from Hoover? • http://xroads.virginia.edu/~ma02/volpe/newdeal/timeline_text.html • CHRONOLOGY NEW DEAL

9. Inauguration March 4, 1933 The First 100 Days • FDR met with Congress for 100 days • Everything passed, even things opposed by FDR • Effective March 6– Bank Holiday • Within 3 days, 1,000 banks re-open • MARCH9th – Emergency Banking Relief Act • Fireside chats: Explain to the American people what is going on!! • http://www.youtube.com/watch?v=z9CBpbuV3ok

10. Reforming the Economy • Glass Steagall Act (FDIC) • Increased 5,000 mid-year • FSA: Federal Securities Act • SEC: Security and Exchange Commission • NIRA: National Industrial Recovery Administration • Unconstitutional 35’ • “seal of approval”

11. Tuesday, February 12, 2013 So far, what do you think of the First New Deal?

12. Recovery: Creating Jobs • CCC: Civilian Conservation Corps • Initially 250,000 to work • Young 17-29 - $30 • PWA: Public Works Administration • States • CWA: Civil Works Administration • 4 MILLION – men & women “Boondoggles”

13. Recovery: The South and West • AAA: Agricultural Adjustment Act • Parts declared unconstitutional • TVA: Tennessee Valley Authority • Dams, Electrification

14. Relief for the Poor • HOLC: Home Owners Land Corporation • NHA: National Housing Act • FERA: Federal Emergency Relief Administration

15. What is the problem?

16. Paying for the New Deal • The Economy Act • Repeal of Prohibition – March 13, 1933 • 21st Amendment already in progress

17. What would be your biggest criticisms? Highest praise?

18. Critics • Conservative • William Hearst, taxes • Robert Taft, socialism • Deficit spending • Liberal • Huey Long, “every man a king” “share our wealth” • Howard Zinn, saved capitalism • Father Coughlin, What about the poor?

19. The SC Reacts to the New Deal • The Supreme Court • 1935 it effectively declared the National Recovery Administration (NRA) illegal. • In the following year it declared the Agricultural Adjustment Act (AAA) unconstitutional thus killing off the AAA. • Too much power federal gov’t – should be state power