New deal3 rev techup

Roosevelt’s New Deal

Relief Recovery Reform

The Election of Franklin Roosevelt“Nothing to fear but fear itself”

• Unemployment at 25%

Inaugurated March 4, 1933

Thousands of state and

federal banks had failed

US Unemployment Rate 2007 - 2010

Bank Failures

• 1930 - 1933: 7, 646 Banks failed

• 2008 – 2010: 294 Banks failed

The Three R’s of the New Deal

RELIEFStop the Pain

RECOVERYGet Well

REFORM

Immunize

(Prevent Relapse)

ReliefRelief

Legislation Passed During First 100 Days in Office

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RooseveltKennedyReaganClintonObama

• March 5, 1933 - Announced the immediate closure of all banks (a ‘bank holiday’) and began work to develop a plan to address the banking crisis

• March 9, 1933 - called Congress into EMERGENCY SESSION

Congress passed the Emergency Banking Act – which was designed to instill confidence in consumers

The Civilian Conservation Corps

Farm Credit Act of 1933

Federal Emergency Relief Act

(1933)

Agricultural Adjustment Act

(1933)Tennessee Valley Authority

(1933)

National Industrial Recovery Act(1933)

Home Owners’ Refinancing Act(1933)

Home Owners’ Loan Corporation

The Civil Works Administration

(1933-1934)

RECOVERY

The Work Progress Administration/Work Projects Administration

(1935)

The Federal Art Project

The Federal Music Project

The Federal Theatre Project

The Federal Writers Project

The Historical Records Survey

REFORM

Federal Securities Act

(1933, 1934)

Glass-Steagall Act of 1933

The Social Security Administration

(1935)"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."--

President Roosevelt upon signing Social Security Act

LABOR

The Triangle Shirtwaist Fire March 25, 1911

National Labor Relations Act1935

National Fair Labor Standards Act(1938)