Questions to Consider FDR & THE NEW DEAL (1) Which important qualities of leadership did FDR possess? (2) What was FDR’s approach to fighting the Depression? Liberal or conservative? Analyze. (3) Whose problems were addressed? The most? The least? (4) Who were the critics of the New Deal? Were their concerns justified? (5) What effects did the New Deal have on the U.S.? Short term? Long term?
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Questions to Consider FDR & THE NEW DEAL (1)Which important qualities of leadership did FDR possess? (2)What was FDR’s approach to fighting the Depression?
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Questions to ConsiderFDR & THE NEW DEAL
(1) Which important qualities of leadership did FDR possess?
(2) What was FDR’s approach to fighting the Depression? Liberal or conservative? Analyze.
(3) Whose problems were addressed? The most? The least?
(4) Who were the critics of the New Deal? Were their concerns justified?
(5) What effects did the New Deal have on the U.S.? Short term? Long term?
FRANKLIN DELANO ROOSEVELTThe Man With the Master Plan?
Childhood/EducationBig Bucks, The Pony, Dresses, Oh Mom!, Tutors, 7th String, “C”, The Crimson, Law
MarriageMy Cousin, OK?, I Love Lucy, Six-Pack
Early Political Career“Progressing” from NY to the Sea to NY
ContradictionEXAMPLE: Balanced Budget vs. Deficit Spending
General PhilosophyExpand the role of the federal government in providing jobs, relief for the unemployed, better wages, and regulation of industry to control the abuses of the past which had led to the current depression.
Relief, Recovery, and ReformCategories developed by historians.
It is common sense to take a method and try it; if it fails, admit it frankly and try another. But above all, try something”- FDR (1932)
RELIEF, RECOVERY, REFORMThe Car Accident Analogy (Heiser)
FDR’s 1ST INAUGURAL ADDRESSMarch 4, 1933
“…First of all, let me assert my firm belief that THE ONLY THING WE HAVE TO FEAR IS FEAR ITSELF – nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”
“Our greatest primary task is to put people to work”Identifies the problems and solutions (vague) for unemployment, low crop prices, foreclosures, speculation, bank failures, world trade (2nd), government costs, etc.
“This great nation will endure as it has endured, will revive and prosper.”
100,000+
THE HUNDRED DAYSMarch 9 to June 16, 1933
ALPHABET SOUP
Emergency Banking Relief Act
CCC
AAA
FERA
TVA
FSA
FDIC
NRA
PWA
BANKINGRestoring Confidence
Bank HolidayClosed for 4 Days!
Emergency Banking Act (1933)(also known as Glass-Steagall Banking Act)Treasury License, Increased Regulation Separates deposit vs. investment banking
Federal Deposit Insurance Corporation (FDIC)Insured deposits up to $5,000
Fireside ChatsTo build trust
CIVILIAN CONSERVATION CORPSUnemployment Relief
500,000 in 19353 million from 1933-1942
FEDERAL EMERGENCY RELIEF ACTTo the States and Cities
Harry HopkinsAdministrator
$500 million
TENNESSEE VALLEY AUTHORITYAddressing an Impoverished Region
AGRICULTURAL ADJUSTMENT ACTSeeking Parity in Prices
Production Cuts
Subsidies Paid by Government
Result In
UNCONSTITUTIONAL!!!
NATIONAL RECOVERY ADMINISTRATIONIndustrial Cooperation
CODES
Fair Competition
Production Limits
Wages
Working Conditions
UNCONSTITUTIONAL!!!
PUBLIC WORKS ADMINISTRATIONMore Unemployment Relief
$3.3 billion
THE STOCK MARKETAvoiding Another Crash
Federal Securities ActHonest Reporting of Stock Information
Curbing Stock Bought on CreditLimiting “Buying on Margin”
Securities and Exchange Commission (1934)*To oversee the Stock Market
2nd NEW DEALA Second Hundred Days (1935)
WPA NLRA(Wagner Act)
Social Security
Aid for Farmers
WORKS PROGRESS ADMINISTRATIONWork NOT Handouts
8 million jobs for almost everyone!
Public Works (roads, bridges, schools, hospitals)
Federal Writers ProjectFederal Theatre ProjectFederal Arts Project
$11 billion into the economy
HELP FOR FARMERSSmall Farmers, Sharecroppers, Migrants
Resettlement Administration
Loans to buy their own farms
Rural Electrification Administration
Loans to utility companies40% electrified by 1941
RIGHTS FOR LABORGovernment Support of Labor
National Labor Relations Act(Wagner Act)Collective-BargainingClosed Shops OK!No Spying or BlacklistingNational Labor Relations Board