The New Deal

1. The New Deal Ch.15

2. 1. Franklin Delano Roosevelt • President from 1933-1945 • Elected to 4 terms

3. 2. New Deal • FDR’s program to help alleviate the Great Depression

4. 3. Glass-Steagall Act • Law that reorganized the banking system and created the Federal Deposit Insurance Corporation

5. 4. Federal Securities Act • Law that required corporations to provide complete information on all stock offerings and made them liable for any misrepresentations

6. 5. Agricultural Adjustment Act • Law in which the government paid farmers to leave a certain amount of land unseeded, in hopes of raising crop prices

7. 6. Civilian Conservation Corps • Program through which men aged 18-25 would be put to work building roads, developing parks, planting trees, and helping in soil-erosion and flood-control projects

8. 7. National Industrial Recovery Act • Law that provided money for states to create jobs mostly by constructing schools and other community buildings

9. 8. Deficit spending • Spending more money than is received in revenue

10. 9. Huey Long • Senator from Louisiana who was an early supporter of the New Deal but championed his own plan called Share-Our-Wealth to challenge the president

11. 10. Eleanor Roosevelt • FDR’s wife and social reformer who traveled the country as her husband’s ambassador

12. 11. Works Progress Administration • Programs that sought to create as many jobs as possible as fast as possible; men worked on infrastructure projects and women sewed clothing • Others wrote guide books, collected slave narratives, or painted murals

13. 12. National Youth Administration • Program to provide education, jobs, counseling, and recreation for young people

14. 13. Wagner Act • Law that provided for unions’ collective bargaining, protected the rights of workers to join unions, and prohibited unfair business practices

15. 14. Social Security Act • Law that provided old-age insurance for retirees 65 and older, created an unemployment compensation system, and provided aid to families with dependent children and the disabled

16. 15. Frances Perkins • FDR’s Secretary of Labor and the first female cabinet member

17. 16. Mary McLeod Bethune • Head of the Division of Negro Affairs of the National Youth Administration

18. 17. John Collier • Commissioner of Indian Affairs who helped create the Indian Reorganization Act of 1934

19. 18. New Deal Coalition • An alignment of diverse groups dedicated to supporting the Democratic Party

20. 19. Congress of Industrial Organizations • Union that split off from the AFL and represented both skilled and unskilled workers and workers of entire industries

21. 20. Gone With the Wind • The most famous film of the 1930s • A drama about Southern plantation owners during the Civil War

22. 21. Orson Welles • Actor, director, producer, and writer who created one of the most famous radio broadcasts of all time, “The War of the Worlds”

23. 22. Grant Wood • American painter famous for his American Gothic work

24. 23. Richard Wright • Received assistance through the Federal Writer’s program (part of the WPA) to write his novel Native Son

25. 24. The Grapes of Wrath • Novel by John Steinbeck that reveals the lives of Oklahomans who left the Dust Bowl and traveled west to California

26. 25. Federal Deposit Insurance Corporation • Federal insurance for individual bank accounts of up to $5000 • Placed requirements on amount of cash reserves banks needed and types of investments banks could make

27. 26. Securities and Exchange Commission • Regulatory body to oversee financial institutions and prevent insider trading

28. 27. National Labor Relations Board • Established by the Wagner Act, this body acted as a mediator in labor disputes between unions and employers

29. 28. Doctrine of parity •  This was a price for agricultural good determined by the government aimed at keeping farmers’ incomes steady • Based on the belief that farming should be as profitable as it was between 1909 and 1914, an era of high food prices and farm prosperity

30. 29. Tennessee Valley Authority • is a federally owned corporationtasked with providing navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley

33. Roosevelt’s New Deal • Four months elapsed between the election and FDR taking office • Worked with his advisors, the Brain Trust, on new policies that came to collectively be called the New Deal • Policies focused on 3 goals • Relief, recovery, and reform • Hundred Days • Congress passed legislation that expanded the government’s role in the economy • Bank Holiday- all banks were closed and only those that could repay their loans were opened

34. Roosevelt’s New Deal • Fireside Chats • Radio chats about issues of public concern • Banking and Finance Regulation • Glass-Steagall Act (1933) established the Federal Deposit Insurance Corporation (FDIC) • Federal Securities Act (1933) • Securities and Exchange Commission (SEC)

36. Helping the American People • Rural Assistance • Agricultural Adjustment Act (AAA) sought to raise crop prices by lowering production • Tennessee Valley Authority (TVA) renovated existing dams and built 20 new ones which provided jobs, flood control, and hydroelectric power to the region • Works Projects • Civilian Conservation Corps (CCC)- built roads, parks, planted trees, worked on soil-erosion and flood-control projects • National Industrial Recovery Act (NIRA)- constructed schools and other community buildings

42. Helping the American People • Promoting Fair Practices • Codes limited production and established prices • Workers could unionize and bargain collectively • Food, Clothing, and Shelter • Federal Emergency Relief Administration (FERA) provided direct relief for the needy and work relief programs

43. New Deal Under Attack • Deficit Spending • Spending more money than the government was taking in revenues • Roosevelt regarded it as a necessary evil • The New Deal did not end the Great Depression • Liberal critics said that FDR did not go far enough • Conservative critics said FDR was trying to socialize the economy

44. New Deal Under Attack • Supreme Court Reacts • 1935 NIRA & 1936 AAA declared unconstitutional • Court-packing Bill • FDR wanted to add more judges to the Supreme Court because he thought the current ones were going to undo the New Deal • American Liberty League • Conservative New Deal critics who opposed legislation they believed violated individual rights and property rights

45. Fiery Critics • Father Charles Coughlin • Roman Catholic priest; favored a guaranteed income and nationalization of banks • Dr. Francis Townsend • Believed Roosevelt wasn’t doing enough to help the poor and elderly • Huey Long • Senator from Louisiana who proposed Share-Our –Wealth to guarantee a home, food, clothing, and education • Assassinated in 1935

47. Reform and Stalemate • Roosevelt Recession (1937-1938) • Industrial output increased to 1929 levels and unemployment was at 14% so FDR cut back on government spending • Congress then cut the WPA’s funding and the Federal Reserve raised interest rates • Keynesian Economics • British economist John Maynard Keynes argued that government intervention could smooth out the highs and lows of the capitalist economy • “pump priming”- deficit spending and manipulation of interest rates to regulate money supply

48. Rise of Labor • American Federation of Labor (AFL) • Organized skilled workers by craft • Congress of Industrial Organizations(CIO) • Led by John L. Lewis • Broke off from AFL to organize non-skilled laborers