A NEW DEAL FOR THE AMERICAN PEOPLE Ch 10.1

Tuesday, April 3, 2012  Daily goal:  Understand how FDR’s New Deal programs attempted to create recovery, relief and reform from the Great Depression.

Before the Depression…

5 The Presidential election of 1932 Electoral votes for each candidate Almost 57% of the electorate voted

6 The FDR inauguration, March 4, 1933 Several weeks before he had narrowly escaped an assassination attempt where the mayor of Chicago was killed.

7

In his own words…  “Our greatest primary task is to put people back to work.” -FDR

10 FDR’S NEW DEAL  RELIEF  REFORM  RECOVERY MANY OF HIS PROGRAMS COMBINED ELEMENTS OF ALL THREE

New Deal  FDR’s New Deal- A new relationship between gov’t and the people.  The New Deal had 3 goals: 1. Relief 2. Reform 3. Recovery

Bank Holiday  FDR’s first act was to close all banks for 4 days for inspection.  In his fireside chats FDR promised that banks would be safe when they reopened.

16 Cartoon depicts FDR as the doctor helping the sick nation; note the wounds are the economic woes such as banking, war debt, budget, farming.

The Hundred Days  FDR created 15 new gov’t programs which would be called the First New Deal in his first Hundred Days in office.

19 FDR closed the banks for several days, a “bank holiday” to avoid panic. They opened a few days later when the situation had calmed. A bank panic was when people cannot get their money because the bank was closed.

Financial Regulation  The SEC was created to regulate the stock market and prevent speculation.  The Glass-Steagall Act split commercial and investment banks.  The FDIC helped restore faith in banks by insuring deposits.

AAA  Created to increase farm prices.  Subsidized farms, restricted production and paid farmers to destroy crops.

NRA  National Recovery Administration tried to control industry through codes.  Guaranteed workers could form unions.

32 Home Owners Loan Corporation (HOLC)  By the early 1930’s, homeowners were losing their homes due to foreclosures at the rate of 1,000 a day.  Congress established HOLC in June of 1933, with the intent of helping homeowners in danger of losing their homes.  HOLC bought up mortgages from banks and refinanced them at rates that allowed homeowners to make lower payments and keep their homes.  HOLC saved 20% of homeowners from losing their homes during the depression.

HOLC  Home Owners’ Loan Corp  Created to refinance home loans to help people avoid foreclosure.

34 Civilian Conservation Corps (CCC ) Created jobs in a semi-military manner for youth from families receiving relief. Over 2 million young people were enrolled by They were paid $30 a month with a portion being sent to their families.

35 The CCC helped millions of young men throughout the depression as well as helping the environment.

CCC  Civilian Conservation Corps  Put Men to work fixing the environment by planting trees, building reservoirs and windbreaks. 

FERA  Federal Emergency Relief Admin gave money to state and local gov’t for unemployed.

39 Tennessee Valley Authority (TVA ) TVA TODAY

40 TVA

41

TVA  Tennessee Valley Authority created jobs by building hydroelectric dams in the South.  Provided cheap power for poor and rural areas.

PWA  Public Works Administration created jobs building schools, airports, parks and roads.