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The New DealRestoring the Nation’s Hope
“lame-duck amendment” 1933- presidential elections took place in
November, but the Inauguration didn’t take place until April
4 months delay- Hoover a “lame duck” Depression deepened
Prompted Congress to pass the Twentieth Amendment which changed the date of the inaugural to January 20.
Did not take place until the following election
Building public confidence
2nd Bonus March on Washington Whitehouse provided campsites for the
veterans Eleanor Roosevelt visited them
demonstrating compassion and soothed popular fears about renewed radical agitation
Inaugural Address- “The only thing we have to fear is fear itself”
Fireside chats
New Deal
Referred to the relief, recovery, and reform programs of FDR’s administration that were aimed at combating the Great Depression
The First Hundred DaysStabilizing Financial Institutions
Pushed programs through congress to provide relief, create jobs, and stimulate economic recovery
“Bank holiday”- closed banks for 4 days to inspect financial health 2/3 reopened Americans regained confidence in the
banking system and began to put more money back into their accounts than they took out
Glass-Steagall Banking Act of 1933- created the Federal Deposit Insurance Corporation (FDIC) to insure bank deposits
Federal Securities Act- required companies to provide information about their finances if they offered stock for sale
Securities and Exchange commission (SEC)- regulated the stock market
Decreased the value of U.S. currency by taking it off the gold standard Hoped that this action would raise the prices
of farm products and other goods Hoped that a devalued American currency
would stimulate export trade
The First Hundred DaysProviding Relief and Creating Jobs
Created the Federal Emergency Relief Administration (FERA) to help overburdened local relief agencies
Sent funds to local relief agencies Put federal money into public
works programs, government-funded projects to build public facilities
Civil Works Administration (CWA)- put unemployed to work building or improving roads, parks, airports, and other facilities
Civilian conservation Corps (CCC)- put more than 2.5 million young, unmarried men to work maintaining forests, beaches, and parks Paid $30/month, allowed to live in camps free of
charge and received food, medical care, and job training
Indian Affairs used federal funds and native American workers to build schools, hospitals, and irrigation systems
The First Hundred DaysRegulating the Economy
National Industrial Recovery Act (NIRA) sought to bolster prices
National Recovery Administration (NRA)- balance the unstable economy through extensive planning Industry-wide codes to spell out fair business
practices Regulated wages, restraining wage competition Controlled working conditions, production, and
prices, and set a minimum wage Gave organized labor collective bargaining
rights, which allowed workers to negotiate as a group with employers
Public Works Administration (PWA)- launched projects ranging from the Grand Coulee Dam to NYC’s Triborough Bridge to the causeway that connects Key West to the Florida mainland
The First Hundred DaysAssisting Homeowners and Farmers
The Depression caused many middle-income homeowners to fall behind in paying their mortgages
Home Owners’ Loan corporation (HOLC)- refinanced mortgages
National Housing Act of 1934- established the Federal Housing Administration (FHA)- government-0wned corporation created to improve housing standards and conditions to insure mortgages and to stabilize the mortgage market
Agricultural Adjustment Administration (AAA)- tried to raise farm prices through subsidies or government financial assistance
Paid farmers not to raise certain crops and livestock- lower production would cause prices to rise
Tennessee Valley Authority (TVA)- public works project that helped farmers and created jobs in one of the country’s least developed regions
Key Players in the New Deal
Groundbreaking Appointments
1st President ever to appoint a woman to a Cabinet post
Frances Perkins became Secretary of Labor and successfully pressed for laws that would help both wage earners ad the unemployed
Hired African Americans in more than a hundred policymaking posts Mary McLeod Bethune held the highest position of
any African American woman in the New Deal- influential spokesperson for Af. Am. Concerns▪ Advised FDR on programs that aided Af.Am. And in the
process increased her level of influence
Eleanor Roosevelt
Traveled widely for her husband, whose disability made traveling difficult Reported back on conditions in the country and
on the effects of his program Sometimes took stands that embarrassed her
FDR Controversial- some Americans though a
First Lady should act only as a gracious hostess
Many came to admire her for her political skills, her humanity, and her idealism
The New Deal Falters
New Deal programs failed to bring about significant economic improvement
Critics worried that New Deal agencies were giving increasing power to the federal government
Supreme Court attacked FDR’s programs Declared the NIRA unconstitutional because
it gave the Pres. Lawmaking powers and regulated local, rather than interstate, commerce
Struck down the tax that funded AAA subsidies
A Second New Deal
New, bolder burst of activity
Called the Second New Deal or the Second Hundred Days
Included more social welfare benefits, stricter controls over business, stronger support for unions, and higher taxes on the rich
Works Progress Administration (WPA)- provided work for more than 8 million citizens Built or improved tens of thousands of
playgrounds, schools, hospitals, and airfields, and supported the creative work of many artists and writers
National Youth Administration provided jobs, education, recreation, and counseling for young men and women ages 16-25
Resettlement Administration/Farm Security Administration (FSA)- loaned money to owners of small farms and helped resettle tenants and sharecroppers
Rural electrification New Labor Legislation
Wagner Act- legalized such union practices as collective bargaining and closed shops, which are workplaces open only union members. Also outlawed spying on union activities and blacklisting
Test Question
Be able to list 6 new deal agencies and their purpose.