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Launching The New Deal
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Launching The New Deal

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    • 1. NEW DEAL 1933-1940 Launching the New Deal
    • 2. Questions of the Day
      • What happened during the four months between the presidential election and Roosevelt’s inauguration?
      • What major action did Roosevelt take on his second day as president, and why did he do it?
      • What was the goal of the TVA?
      • How did the public benefit from the Federal Securities Act?
      • What are the three main categories of the programs of the New Deal?
      • What did Huey P. Long’s Share our Wealth Society want to do?
      • Why did the American Liberty League appeal to both Democrats and Republicans?
    • 3. Roosevelt Takes Action
      • Economic crisis worsened in months before Roosevelt took office
      • U.S. Banking system was most immediate problem Roosevelt faced
    • 4. Roosevelt Takes Action
      • “ So, 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.” – March 4, 1933
    • 5. Solving the Banking Crisis
      • People withdrew their money from banks to avoid losing their savings
        • Created panic, more withdraws
      • To stop this:
      • Roosevelt issued an executive order to CLOSE ALL THE NATION’S BANKS
          • Called it a “Bank Holiday”
      • Passed Emergency Banking Act
          • Allowed government officials to evaluate banks
          • Determine if it should stay open or close the bank
          • Decide on steps to correct problems
      • Explained his actions in the first “fireside chat”
    • 6. Success of the Emergency Banking Act
      • Things improved within a few days
        • Banks began to reopen w/ government assurance
        • People started to return their funds
        • Nation regained confidence in the financial system
    • 7. More Banking Reforms
      • The Glass-Steagall Act
        • Passed in 1933
        • Created FDIC - (Federal Deposit Insurance Corporation)
          • Provided insurance for depositors’ savings
      • Within a month $1 billion in new deposits entered the system
    • 8. The Hundred Days and The New Deal
      • Solving the banking crisis began an important period of government activity known as the
      • HUNDRED DAYS
        • A time in which Roosevelt pushed Congress to put in place key parts of:
      • THE NEW DEAL
        • A plan meant to accomplish three main goals: (the three R’s)
          • Relief for those suffering the effects of the Great Depression
          • Recovery of the depressed economy
          • Reforms that would prevent serious economic crisis from happening in the future.
    • 9. The New Deal - CCC
      • The Civilian Conservation Corps. (CCC)
        • An effort to solve problem of unemployment for men age 18-25
        • Americans enrolled in CCC were paid to work on various conservation projects
          • Ex: planting trees
        • Lived in army-style camps
        • Sent money to their families
    • 10. Help for Agriculture and Industry
      • Agricultural Adjustment Act (AAA)
        • Gave farmers a subsidy to grow fewer crops
          • Subsidy = government payment
        • supply, demand, price
      • National Industrial Recovery Act (NIRA)
        • Mandated that businesses in the same industry work together to set prices and levels of production
        • Included $3.3 billion for public works programs
    • 11. The PWA, FSA and SEC
      • Public Works Administration (PWA)
        • Helped manage public works projects
      • Federal Securities Act
        • Forced companies to share certain financial info with the public
      • Securities and Exchange Commission (SEC)
        • Monitored fairness of stock market
    • 12. Tennessee Valley Authority (TVA)
      • Massive program
      • Goal: developing the resources of the entire Tennessee River Valley
      • Built dams and other projects along Tennessee River
        • Helped control floods
        • Aided navigation and shipping on the river
        • Provided hydroelectric power for industries
    • 13. TVA
    • 14. TVA
    • 15. Beyond the Hundred Days
      • Roosevelt promised “bold, persistent experimentation” and he delivered
      • But the effort wasn’t over
      • Nov. 1933 – Civil Works Administration (CWA)
        • Provided winter employment for 4 million workers
        • But highways, sewer lines, airports, etc.
      • June 1934 – Indian Reorganization Act
        • Recognized tribes as key social units
        • Limited sale of Indian lands
        • Assisted them in developing resources, economy and culture
        • Granted some rights of self-rule
    • 16. Trouble for the New Deal
      • New Deal greatly increased the role of government in business and peoples lives
        • Not supported by everyone
      • Some said the New Deal didn’t do enough
        • Complained that it propped up the system which had caused all the problems in the first place
      • Others complained that it ignored traditional American values
    • 17. Critics of the New Deal
    • 18. Opposition from the Courts
      • Courts were more skeptical than American people
        • Thought New Deal gave the President too much power
        • President appointed officers made decisions Congress used to
      • By 1935, New Deal cases hit the courts
        • Sent a swift blow to Roosevelt’s programs
      • 1935 Schechter Poultry Corporation vs. U.S.
        • Destroyed parts of NIRA
      • 1936 United States vs. Butler
        • Found AAA’s tax used to raise money for farm subsidies unconstitutional
      • Courts accomplished what New Deal critics could not
    • 19. For Next Class…
      • Research one New Deal program
      • Make poster, visual display
      • Be sure to explain:
        • What is the program supposed to accomplish?
        • What benefits might the program have?
        • Who will the program benefit?
        • What might be some downsides to the program?
      • Be prepared to share next class

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