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Chapter 15: The New Deal

Chapter 15: The New Deal. Section 1: A New Deal Fights the Depression. Pages: 488-494. Americans Get a New Deal. Pages: 488-490. Americans Get a New Deal. ELECTING FRANKLIN DELANO ROOSEVELT Wins 1932 Presidential Election (Democrat) Democrats control Congress (majority in Senate and House)

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Chapter 15: The New Deal

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  1. Chapter 15: The New Deal Section 1: A New Deal Fights the Depression Pages: 488-494

  2. Americans Get a New Deal Pages: 488-490

  3. Americans Get a New Deal • ELECTING FRANKLIN DELANO ROOSEVELT • Wins 1932 Presidential Election (Democrat) • Democrats control Congress (majority in Senate and House) • Defeated Hoover (Republican) because people blamed Republicans for not doing enough to help with the Depression

  4. Americans Get a New Deal • WAITING FOR ROOSEVELT TO TAKE OVER (489) • 20th Amendment stated president gets elected in November but does not take office until January • During that time he Worked with his team “Brain Trust” to formulate programs designed to alleviate problems of the Great Depression

  5. Americans Get a New Deal • THE HUNDRED DAYS • Congress passed more than 15 major pieces of New Deal legislation • These laws expanded the role of the federal government in the nation’s economy

  6. Americans Get a New Deal • AN IMPORTANT FIRESIDE CHAT • Talks on the radio by FDR about issues of public concern, explaining in simple language his New Deal Measures

  7. Americans Get a New Deal • REGULATING BANKING AND FINANCE (490) • Glass-Steagall Act – established FDIC which provided federal insurance for individual bank accounts ensuring bank customers their money was safe

  8. Americans Get a New Deal • REGULATING BANKING AND FINANCE • Federal Securities Act – required corporations to provide complete information on all stock offerings and made them liable for any misrepresentations • SEC – regulated the stock market. Was to prevent people from with inside information about companies from “rigging” the stock market for their own profit

  9. HELPING THE AMERICAN PEOPLE PAGES: 490-492

  10. HELPING THE AMERICAN PEOPLE • Farmers were hardest hit by the depression

  11. HELPING THE AMERICAN PEOPLE • RURAL ASSISSTANCE (491) • Agricultural Adjustment Act (AAA) – raise crop prices by lowering production • Reduced supply would increase prices

  12. HELPING THE AMERICAN PEOPLE • RURAL ASSISSTANCE (491) • Tennessee Valley Authority (TVA) • Renovated five existing dams and constructed 20 new dams, in result, it created thousands of jobs, and provided flood control, and hydroelectric power

  13. HELPING THE AMERICAN PEOPLE • PROVIDING WORK PROJECTS (491) • Civilian Conservation Corps (CCC) – put young men 18 to 25 to work. 3 million young men benefited from this program • National Industrial Recovery Act (NIRA) – provide money to states to create jobs in the construction of schools and community buildings

  14. HELPING THE AMERICAN PEOPLE • PROMOTING FAIR PRACTICES (492) • National Recovery Administration (NRA) – promote recovery by interrupting the trend of wage cuts, falling prices, and layoffs. • Workers rights to unionize

  15. HELPING THE AMERICAN PEOPLE • FOOD, CLOTHING, AND SHELTER (492) • Home Owners Loan Corporation (HOLC) – provided government loans to homeowners who faced foreclosure because they couldn’t pay their loans • Federal Housing Administration (FHA) – furnishes loans for home mortgage and repairs today • Federal Emergency Relief Administration (FERA) – money given the states as grants-in-aid to help give food and clothing to the unemployed

  16. THE NEW DEAL COMES UNDER ATTACK PAGES: 492-494

  17. THE NEW DEAL COMES UNDER ATTACK • DEFICIT SPENDING • John Keynes “Keynesian Economics” government should spend more than it receives in revenue • Only used to get out of great economic crisis

  18. THE NEW DEAL COMES UNDER ATTACK • Liberals • Argued that the New Deal did not go far enough to help the poor and to reform the nation’s economic system

  19. THE NEW DEAL COMES UNDER ATTACK • CONSERVATIVES • Say Roosevelt spent too much on direct relief and used New Deal policies to control business and socialize the economy • Believed the New Deal gave too much control to the federal government over agriculture and industry

  20. THE NEW DEAL COMES UNDER ATTACK • MANY COMPLAINED THAT THE NEW DEAL INTERFERED WITH THE WORKINGS OF THE FREE-MARKET ECONOMY

  21. THE NEW DEAL COMES UNDER ATTACK • THE SUPREME COURT REACTS • Court struck down the NIRA as unconstitutional • AAA was struck down by Supreme Court on the grounds that agriculture is a local matter and should be regulated by the states rather than by the federal government

  22. THE NEW DEAL COMES UNDER ATTACK • Roosevelt was able to choose 8 new Supreme Court Justices • This allowed Roosevelt to pack the Supreme Court with Justices that favored his political ideology

  23. THE NEW DEAL COMES UNDER ATTACK • THREE FIERY CRITICS • American Liberty League – they opposed New Deal measures that it believed violated respect for the rights of individuals and property • Charles Coughlin • Dr. Francis Townsend • Huey Long

  24. THE END

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