* Write at least three sentences for each * Define each term *Explain how it provided relief for unemployment or promoted recovery in business and agriculture.

* Write at least three sentences for each* Write at least three sentences for each* Define each term* Define each term*Explain how it provided relief for unemployment or *Explain how it provided relief for unemployment or promoted recovery in business and agriculture.promoted recovery in business and agriculture.* Page 701* Page 701

1.) Bank Holiday (Emergency Banking Act)1.) Bank Holiday (Emergency Banking Act)2.) F. D. I .C.2.) F. D. I .C.

3.) Civilian Conservation Corps3.) Civilian Conservation Corps4.) National Industrial Recovery Act4.) National Industrial Recovery Act

5.) Agricultural Adjustment Act5.) Agricultural Adjustment Act*6.) Subsidy (back of book – dictionary)*6.) Subsidy (back of book – dictionary)

7.) Tennessee Valley Authority7.) Tennessee Valley Authority8.) Social Security Act ( pg. 711)8.) Social Security Act ( pg. 711)

9.) The Fair Labor Standards Act (pg. 726)9.) The Fair Labor Standards Act (pg. 726)

The New DealThe New Deal

Franklin D. Roosevelt to Herbert Hoover: Just leave them Herb. I'll do it all after March 4th.

Bank HolidayBank HolidayAlso known as the Emergency Banking Also known as the Emergency Banking

Act.Act.Authorized the federal government to Authorized the federal government to

examine all banks.examine all banks.Re-open those that were financially sound.Re-open those that were financially sound.Millions of Americans listened to the first of Millions of Americans listened to the first of

Franklin Roosevelt’s “fireside chats” for his Franklin Roosevelt’s “fireside chats” for his explanation.explanation.

““I can assure you that it is safer to keep I can assure you that it is safer to keep your money in a reopened bank than your money in a reopened bank than under the mattress”under the mattress”

F.D.I.C.F.D.I.C.

Created June 1933Created June 1933Federal Deposit Insurance CorporationFederal Deposit Insurance Corporation Insured each bank deposit up to $5,000.Insured each bank deposit up to $5,000. It now insures some deposits up to It now insures some deposits up to

$250,000, but it is set to go back down to $250,000, but it is set to go back down to $100,000 in 2014.$100,000 in 2014.

Civilian Conservation Corp. (C.C.C)Civilian Conservation Corp. (C.C.C)

Provide relief for many unemployed young men Provide relief for many unemployed young men between the ages of 18 and 25.between the ages of 18 and 25.

250,000 young men left their homes to start 250,000 young men left their homes to start CCC training.CCC training.

They planted trees, cleared underbrush, created They planted trees, cleared underbrush, created park trails, and developed campgrounds and park trails, and developed campgrounds and beaches.beaches.

Earned $30.00 a monthEarned $30.00 a month Most of money was sent back home to their Most of money was sent back home to their

families.families.

CCC recruits about to leave for CCC recruits about to leave for Missoula Missoula

National Industrial Recovery ActNational Industrial Recovery Act

To stimulate industrial and business To stimulate industrial and business activity and reduce unemployment.activity and reduce unemployment.

This was done by stabilizing prices, raising This was done by stabilizing prices, raising wages, limiting work hours, and providing wages, limiting work hours, and providing jobs.jobs.

Created :Created :Public Works AdministrationPublic Works AdministrationNational Recovery AdministrationNational Recovery Administration

Restaurant supporting the NRA scheme.Restaurant supporting the NRA scheme.  

Agriculture Adjustment ActAgriculture Adjustment Act

Paid farmers to reduce their output of Paid farmers to reduce their output of corn, cotton, dairy products, hogs, rice, corn, cotton, dairy products, hogs, rice, tobacco and wheat.tobacco and wheat.

The reduction would help raise prices.The reduction would help raise prices.

SubsidiesSubsidies

A grant by a government to a private A grant by a government to a private person or company to assist an enterprise person or company to assist an enterprise deemed advantageous to the public.deemed advantageous to the public.

Tennessee Valley Authority (T.V.A)Tennessee Valley Authority (T.V.A)

May 1933May 1933Built new damsBuilt new damsBuilt power stations that provided Built power stations that provided

electricity, flood control, and recreational electricity, flood control, and recreational facilities.facilities.

Combat malaria and literacy.Combat malaria and literacy.

The 34 dams under the control of the TVA on the Tennessee and Cumberland The 34 dams under the control of the TVA on the Tennessee and Cumberland Rivers not only produced electric power but also played a role in flood control, Rivers not only produced electric power but also played a role in flood control,

irrigation and navigation. The TVA also served several other purposes including irrigation and navigation. The TVA also served several other purposes including reforestation, preservation of wildlife, production of fertilizer and improved use reforestation, preservation of wildlife, production of fertilizer and improved use

of agricultural land.of agricultural land.

Social Security ActSocial Security ActAugust 1935August 1935Contained three provisionsContained three provisions

Provided unemployment insurance to workers who Provided unemployment insurance to workers who lost jobs.lost jobs.

Provided pensions to retired workers over the age Provided pensions to retired workers over the age of 65of 65

Provided payments to people with disabilities, the Provided payments to people with disabilities, the elderly, and the wives and children of male elderly, and the wives and children of male workers who had died.workers who had died.

Facts about Social SecurityFacts about Social Security The Social Security program turned 77 in August. Since President Franklin The Social Security program turned 77 in August. Since President Franklin

D. Roosevelt signed the Social Security Act on Aug. 14, 1935D. Roosevelt signed the Social Security Act on Aug. 14, 1935 life expectancy in 1930 (a few years before the Social Security system life expectancy in 1930 (a few years before the Social Security system

was established), was 58 for men and 62 for women, according to the was established), was 58 for men and 62 for women, according to the Social Security AdministrationSocial Security Administration..

Between 1937 and 2007, the retirement system took in $13 trillion and Between 1937 and 2007, the retirement system took in $13 trillion and made payments of $10.6 trillion. made payments of $10.6 trillion.

Social Security's first beneficiary, Ida May Fuller of Ludlow, Vt. Paid Social Security's first beneficiary, Ida May Fuller of Ludlow, Vt. Paid social security for 3 years and received benefits averaging about $650 social security for 3 years and received benefits averaging about $650 a year (22.54 month) over 35 years.a year (22.54 month) over 35 years.

The first three digits of your Social Security number are assigned The first three digits of your Social Security number are assigned based on geographical region, with the lowest numbers being based on geographical region, with the lowest numbers being assigned in the Northeast. The middle two digits, called the group assigned in the Northeast. The middle two digits, called the group number, are allocated in a precise but nonconsecutive order from 01 to number, are allocated in a precise but nonconsecutive order from 01 to 99. The last four digits are issued in a sequential order.99. The last four digits are issued in a sequential order.

The Social Security trust fund is currently projected to be sufficient to The Social Security trust fund is currently projected to be sufficient to provide payments through 2037. Unless changes are made to the program, provide payments through 2037. Unless changes are made to the program, after that year, resources will be sufficient to pay out only about 78% of after that year, resources will be sufficient to pay out only about 78% of scheduled benefits. scheduled benefits.

Almost all (94%) American workers pay 6.2% of their taxable income, Almost all (94%) American workers pay 6.2% of their taxable income, up to $106,800 annually, into the Social Security trust fund. Employers up to $106,800 annually, into the Social Security trust fund. Employers pay a matching 6.2% for each worker. Self-employed workers must pay a matching 6.2% for each worker. Self-employed workers must contribute 12.4% of their income annually.contribute 12.4% of their income annually.

Social Security Board Poster Social Security Board Poster

The Fair Labor Standards ActThe Fair Labor Standards Act

19381938Established a minimum wageEstablished a minimum wageSet the maximum number of required Set the maximum number of required

hours for a work week at 44. (later lowered hours for a work week at 44. (later lowered to 40)uioioioyiyuiyito 40)uioioioyiyuiyi

Required overtime rate of time and a half Required overtime rate of time and a half for any hours over the weekly maximumfor any hours over the weekly maximum

Last major New Deal law.Last major New Deal law.

Critics of the New DealCritics of the New Deal

Francis TownsendFrancis TownsendGovernment to grant a pension of $200 a Government to grant a pension of $200 a

month to every American over 60 years of month to every American over 60 years of age.,jknx,mn,.mc,,cvm,,v,cmv,.cmv.,mv., 0 age.,jknx,mn,.mc,,cvm,,v,cmv,.cmv.,mv., 0 days days

Outline for Social S b ecurityOutline for Social S b ecurity

Charles CoughlinCharles CoughlinRadio priestRadio priestNationalize all banks and return to silver Nationalize all banks and return to silver

standard.standard.

Huey LongHuey LongU.S. senator from LouisianaU.S. senator from LouisianaRobin Hood planRobin Hood planRelief program called “Share the Wealth”Relief program called “Share the Wealth”Government would take money from the rich Government would take money from the rich

through taxes.through taxes.Government provide guaranteed minimum Government provide guaranteed minimum

incomeincomeHome to every AmericanHome to every AmericanLong assassinated in 1935.Long assassinated in 1935.

Huey Long: Every Man a KingHuey Long: Every Man a King

CriticsCritics

1.) Created welfare state1.) Created welfare state2.) Promoted deficit spending2.) Promoted deficit spending3.) Too much government involvement3.) Too much government involvement

Threatened the free enterprise system.Threatened the free enterprise system.

New Deal BenefitsNew Deal Benefits

1.) Modernized the South1.) Modernized the South

2.) Broke down class barriers2.) Broke down class barriers

3.) Brought electricity to rural areas3.) Brought electricity to rural areas

4.) Boosted family income4.) Boosted family income

5.) Provided jobs – self worth5.) Provided jobs – self worth