THE NEW DEAL FDR’s Response to the Great Depression

Restoring the Nation’s Hope

FDR and 1st Lady Eleanor attempt to restore confidence 2nd Bonus Army Fireside Chat

The New Deal Relief Recovery Reform

The First 100 Days

- FDR pushes program after program through Congress

- “Alphabet Soup”

Stabilizes Financial Institutions

Emergency Banking Act “Bank Holiday”: closes

banks to inspect them, restore confidence

Glass-Steagall Banking Act Insures bank deposits

Securities & Exchange Commission Regulates stock market

Provides Relief and Creates Jobs

Federal Emergency Relief Administration Money to local relief

agencies Public Works Program

Building public facilities Roads, Parks, Railroads

Civilian Conservation Corp 2.5 million unmarried

men to work in forests, beaches, and parks (Pioneers Park)

Regulates the Economy

National Industrial Recovery Act Set to increase

industrial prices Regulates wages,

working conditions, and prices

Capitalism…??

Assists Farmers and Homeowners Home Owners’ Loan Corporation

Refinanced mortgages Federal Housing Administration

Improved housing standards Agricultural Adjustment Administration

Raised farm prices through subsidies (paid to not grow crops)

Tennessee Valley Authority Focus on Tennessee Valley (nation’s least

developed areas) Hydroelectric power plant developed

New Deal Falters

- Many agencies unsuccessful

- Supreme Court attacks FIRA & AAA as unconstitutional

A Second New Deal

New, bolder programs launched Works Progress Administration (WPA)

Employs over 8 million people Farm Security Administration

Loans money to small farms & helps settle tenant farmers

Rural Electrification Administration Electricity to America’s rural areas

Wagner Act Legalizes union practices like collective bargaining Outlaws spying on unions & blacklisting

Social Security System Economic support to who can’t support themselves

Old Age, Unemployment, Dependent children, disabled

FDR wins in a landslide 523-8 vs. Alfred M. Landon of Kansas

The Election of 1936