ROOSEVELT TACKLES MONEY & BANKINGBanking chaos cried aloud for immediate action. In an eight hour session, Congresspassed the Emergency Banking Relief Act of 1933. The new law gave the president thepower to regulate banking transactions and foreign exchange and to reopen solvent banks.FDR moved swiftly elsewhere on the financial front, seeking to protect the melting goldreserves and to prevent panicky hoarding. How did he accomplish this?What was the goal of FDR’s “managed currency?” And describe the steps he tookto stabilize the dollar.
CREATING JOBS for the JOBLESSOverwhelming unemployment clamored for prompt remedial action. One out of every fourworkers was jobless when FDR took office. FDR did not hesitate to use federal money toassist the unemployed and at the same time to “prime the pump” of industrial recovery.The Hundred Days Congress responded by creating the Civilian Conservation Corps (CCC),which proved to be perhaps the most popular of all the New Deal “alphabet agencies.”
The CCC provided employment in fresh-air govt. camps for about 3 million uniformed youngmen, many of whom might otherwise have been driven to desperation into criminal habits.What type of work did these men do? The men were required to their parents bysending home most of their pay. Were there critics of the program? Describe the following New Deal programs: * Federal Emergency Relief Act * Agricultural Adjustment Act * Home Owner’s Loan Corporation
A DAY for EVERY DEMAGOGUE Direct relief from Washington to needy families helped pull the nation through the ghastly winter of 1933-1934. But the disheartening persistence of unemployment and suffering demonstrated that emergency relief had to be continued. One danger signal was the appearance of various demagogues, notably Sen. Huey (“Kingfish”) Long of Louisiana. Like some others, he capitalized on popular discontent to make pie-in-the-sky promises. Describe his “Share Our Wealth” program.
Another prominent demagogue was the “microphone messiah,” Father Charles Coughlin, aCatholic priest from Michigan. His “Social Justice” slogan led anti-New Deal diatribesthat were also anti-Semitic and fascistic. He was finally silenced by his superiors in 1942.
Partly to quiet and discredit the demagogues, Congress authorized the Works ProgressAdministration (WPA) in 1935. The objective was employment on useful projects.
The agency ultimately spent $11 billion on thousands of public buildings, bridges, androads. Agencies of the WPA also found part-time occupations for needy high school andcollege students, and for unemployed white-collar workers. Women working in a govt. funded canning center Men work on a govt. funded drainage system