CONCLUSION: NEW DEAL 1. Compare and contrast the first and second New Deals and evaluate the success and failures 2. How effective was the New Deal in ending the Great Depression?

Relief, Reform, and Recovery President Roosevelt began “New Deal” to end the Great Depression. First New Deal: Relief Second New Deal: Reform and Recovery

FIRST NEW DEAL’s Acts BANKING ACT Roosevelt closed banks to stop people from withdrawing any more money Urged the public to return their money back to the bank Created FDIC FDIC (Federal Deposit Insurance Corporation) – Insured individual bank deposits up to $5,000

Continue Established CCC CCC (Civilian Conservation Corps) – Employed young men from 18~25 to plant trees, cut shrubs, create park trails, and develop campgrounds and beaches.

Again Supported the Federal Securities Act which established the SEC SEC (Securities and Exchange Commission) – supervised companies with stocks and bonds to protect investors from stock frauds. Passed the NIRA NIRA (National Industrial Recovery Act) – stabilized prices, raised wages, limited work hours, and provided jobs PWA, NRA

And again Created AAA AAA (Agricultural Adjustment Administration) – paid farmers to reduce output of their products (corn, cotton, dairy product, rice, tobacco, wheat) The reduction in output raised the prices of the products Increased income=farmers spending more money=stimulate overall economic recovery

And again TVA (Tennessee Valley Authority) – built new dams Built new dams and power stations that provided electricity, flood control, and facilities for the region. New dams & new stations = employees to work on the dams and stations = hiring = decrease in unemployment rate

New Deal Criticized! The First new deal was criticized by many people Biggest complainers = American Liberty League. New deal is destroying Constitution and free enterprise. Francis E. Townsend-> Pension 200$ to everyone for over 60 years Huey Long “Share Our Wealth” program The government should have the power to seize wealth from the rich by taxes and provide home to every family, and guarantee minimum income.

SECOND NEW DEAL Encouraged more public-works program, wage improvement, social-security programs.

Continue WPA (Works progress administration 1935) help young people with NYA ( national youth administration) employed 8.5 million people for public buildings, airports, and roads

Again Social Security Act (1935) provided unemployment insurance to workers who lost jobs pensions to retired workers older than age 65. shared federal-stated program payments to people with disabilities, elderly, and widows. still continuing until this day

And again REA ( Rural Electrification Administration) Revenue Act electricity to isolated rural areas Revenue Act sharply raised taxes for nation's richest people

Roosevelt during New Deal Because of success that Second new deal brought, Roosevelt won the election of 1936 even with the support from the Republicans. Roosevelt, confident with his success in election, tried to reform the supreme court by trying to replace one to six justices that were over 70 got many protests, and was rejected soon, seven justices died or retired, so Roosevelt was able to replace them with his appointees.

Effect of Second New Deal The supreme country kept concluding that most of the legislations were "unconstitutional." ex) NIRA ( national industrial recovery act) so as a result! Wagner-Connery Act. labor's right to organize unions to bargain for better wages

Labor Farmers Congress of Industrial Organizations tried to unite workers resulted in strikes ex) GM strike that was led to sit-down strike, GM between United Automobile Workers to unionize.-> UAM won Farmers

SUCCESS?

FAILURE?

NO MORE DEPRESSION?

NEXT PROGRAM: Finally! It is time for Game! Please make TWO Lines with equal number of people One on the door and other on the window