A New Deal for the American People

A NEW DEAL FOR THE AMERICAN PEOPLE

Ch 10.1

Tuesday, April 3, 2012

Daily goal: Understand how FDR’s New Deal

programs attempted to create recovery, relief and reform from the Great Depression.

Before the Depression…

5

The Presidential election of 1932

0

100

200

300

400

500

ROOSEVELT HOOVER

ROOSEVELT

HOOVER

Electoral votes for each candidate Almost 57% of the electorate voted

6

The FDR inauguration, March 4, 1933Several weeks before he had narrowly escaped an assassination attempt where the mayor of Chicago was killed.

7

In his own words…

“Our greatest primary task is to put people back to work.” -FDR

10

FDR’S NEW DEAL

RELIEFREFORMRECOVERY

MANY OF HIS PROGRAMS COMBINED ELEMENTS OF ALL THREE

New Deal

FDR’s New Deal- A new relationship between gov’t and the people.

The New Deal had 3 goals:1. Relief2. Reform3. Recovery

Bank Holiday

FDR’s first act was to close all banks for 4 days for inspection.

In his fireside chats FDR promised that banks would be safe when they reopened.

16

Cartoon depicts FDR as the doctor helping the sick nation; note the wounds are the economic woes such as banking, war debt, budget, farming.

The Hundred Days

FDR created 15 new gov’t programs which would be called the First New Deal in his first Hundred Days in office.

19

FDR closed the banks for several days, a “bank holiday” to avoid panic. They opened a few days later when the situation had calmed.

A bank panic was when people cannot get their money because the bank was closed.

Financial Regulation

The SEC was created to regulate the stock market and prevent speculation.

The Glass-Steagall Act split commercial and investment banks.

The FDIC helped restore faith in banks by insuring deposits.

AAA

Created to increase farm prices. Subsidized farms, restricted production

and paid farmers to destroy crops.

NRA

National Recovery Administration tried to control industry through codes.

Guaranteed workers could form unions.

32

Home Owners Loan Corporation (HOLC) 1933-1936By the early 1930’s, homeowners were losing their homes due to foreclosures at the rate of 1,000 a day.Congress established HOLC in June of 1933, with the intent of helping homeowners in danger of losing their homes.HOLC bought up mortgages from banks and refinanced them at rates that allowed homeowners to make lower payments and keep their homes.HOLC saved 20% of homeowners from losing their homes during the depression.

HOLC

Home Owners’ Loan Corp Created to refinance home loans to help

people avoid foreclosure.

34

Civilian Conservation Corps (CCC)

Created jobs in a semi-military manner for youth 18-25 from families receiving relief. Over 2 million young people were enrolled by 1941. They were paid $30 a month with a portion being sent to their families.

35

The CCC helped millions of young men throughout the depression as well as helping the environment.

CCC

Civilian Conservation Corps Put Men 18-25 to work fixing the

environment by planting trees, building reservoirs and windbreaks.

http://www.youtube.com/watch?v=3SdvYOHKyU4

FERA

Federal Emergency Relief Admin gave money to state and local gov’t for unemployed.

39

Tennessee Valley Authority (TVA)TVA TODAY

40

TVA

41

TVA

Tennessee Valley Authority created jobs by building hydroelectric dams in the South.

Provided cheap power for poor and rural areas.

PWA

Public Works Administration created jobs building schools, airports, parks and roads.