Roosevelt’s Rise to Power

1. Roosevelt’s Rise to Power • Democratic nominee from New York • Roosevelt’s policies to end the depression became known as the New Deal • Roosevelt won the election in a landslide • He won the November 1932 presidential election

2. The First Hundred Days • From March 9 – June 16, 1933, was referred to as the Hundred Days • It was here that Roosevelt sent many bills to Congress • Congress passed 15 major acts to help the economic crisis • These programs made up the first New Deal • Roosevelt put together a group of advisors in the fields of academia, business, agriculture, government, law, and social work

3. Fixing the Banks and Market • Restore the confidence of the American people in the banking system • He called a national bank holiday and called Congress into special session • Congress passed the Emergency Banking Relief Act, which required examiners to survey the nation’s banks and issue Treasury Department licenses to financially sound banks

4. Fixing the Banks and Market • Roosevelt had “fireside chats,” where he spoke on the radio directly to the people. • He assured people that the banks were now secure. • New regulations for banks and the stock market were implemented with the Securities Act of 1933. • The Securities and Exchange Commission (SEC) was created to regulate the stock market and prevent fraud. • The Federal Deposit Insurance Corporation (FDIC) that provided government insurance for bank deposits up to a certain amount.

5. Managing Farms and Industry • Roosevelt asked Congress to pass the Agricultural Adjustment Act. • A plan that paid farmers not to raise crops or lower production that would in turn increase demand. • The act was administered by the (AAA). • The National Industrial Recovery Act (NIRA) suspended antitrust laws and allowed business, labor, and government to cooperate in setting up voluntary rules, known as codes of fair competition, for each industry. It was run by the (NRA). It was later declared unconstitutional by the Supreme Court in 1935.

6. Spending and Relief • Several policies were introduced to help Americans with their debt. • Home Owner’s Loan Corporation (HOLC) • The Farm Credit Administration (FCA) was established to help farmers refinance their mortgages • The Civilian Conservation Corps (CCC) gave unemployed men aged 18 to 25 the opportunity to work with the national forestry service. • The Federal Emergency Relief Act (FERA) was created to funnel money to local and state government. • In 1933 Congress authorized the Public Works Administration (PWA) to begin a series of construction projects, creating additional jobs.

7. Challenges to the New Deal • Support of Roosevelt and the New Deal began to fade in 1935. • Roosevelt used deficit spending to pay for his programs. • Spending more that you take in • The American Liberty League was created as business leaders and anti-New Deal politicians from both parties organized to oppose the New Deal. • Left wing Democrat senator Huey Long proposed taking property from the rich and dividing it among the poor.

8. The Second New Deal • It began in 1935 with a series of programs and reforms to help speed up recovery and provide economic security to every American. • The Works Progress Administration (WPA) was a federal agency, that spent $11 billion over several years, which created jobs for workers. This was the administration that built Tennessee High’s Stone Castle. • The Supreme Court began to strike down much of the New Deal legislation. • The Social Security Act became law in 1935, providing security for the elderly, unemployed workers, and other needy people.

9. Roosevelt’s Second Term • Millions of voters owed everything to Roosevelt and the New Deal. • Roosevelt won the election of 1936 by one of the biggest landslides in American history. • The Supreme Court did not support the New Deal programs. In January 1936, the Court declared the Agricultural Adjustment Act unconstitutional. In response to this act, Roosevelt tried to balance the Supreme Court with the court-packing plan. • Roosevelt sent Congress a bill to increase the number of justices in the Supreme Court.

10. The Last New Deal Reforms • Roosevelt’s success was limited in his second term in office. • The 1937 National Housing Act, promoted by Eleanor Roosevelt, created United States Housing Authority to subsidize loans for builders willing to buy blocks of slums and build low cost housing. • The Fair Labors Standards Act of 1938 gave protection to workers, abolished child labor, and created a 40 hour workweek for workers. • The New Deal era ended by 1939 as Congress began to turn against the New Deal.