1. Roosevelt’s Alphabet Soup Chapter 22 Advanced US History

2. The Hundred Days FDR’s Inaugural Address (March 4, 1933) – Roosevelt tried to reassure the country: “The only thing we have to fear is fear itself.” He said he would ask for the power “to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe.” The Work Begins: New Deal –

3. FIRST PRIORITY! Roosevelt’s first priority was to restore people’s confidence in the banking system! Started “fireside chats’ which were direct talks by FDR had with Americans to let them know what he was working to accomplish. Millions listened in! With the help of his Brain Trust – group of leading intellectuals charged with formulating policy with Roosevelt – Roosevelt proposed a series of dramatic measures to reorganize the country’s finances and raise the living standard for all Americans.

4. 1st New Deal Programs

5. Emergency Banking Relief Act: The Securities Act of 1933 required companies that sold stocks and bonds to provide complete and truthful information to investors. Punish people when using “insider knowledge”. Following this was created-SEC: Securities and Exchange Commission: regulated stock market and prevent fraud The Glass-Steagall Banking Act said that banks could no longer risk depositors money by using it to speculate on the stock market. Regulated size of banks. Created the FDIC:

6. AAA: Agricultural Adjustment Act: NIRA: National Industrial Recovery Act: instituted programs to regulate industry, establish labor rights, and improve working conditions -Section 7a of NIRA – legalized and granted rights to labor unions, leading to the dramatic expansion of labor unions across the nation -As a result, meetings between labor representatives, business owners, & government officials led to the 40- hour workweek, banned child labor, & implemented minimum weekly wages.

7. NRA: National Recovery Administration: purpose was to respond to “cutthroat” competition of businesses fighting for survival; it enforced fair- trade rules set by industry associations during the 1920s, encouraged companies and workers to meet and agree on prices and wages, and established a public relations campaign to mobilize support of the New Deal HOLC: Home Owners Loan Corporation:

8. FCA: Farm Credit Administration: set up to help farmers refinance their mortgages. Mainly to less-efficient farmers=less for other loans. (came out of the Emergency Farm Mortgage Act) Most Highly Praised New Deal Work Relief Program: CCC: Civilian Conservation Corps:

9. FERA: Federal Emergency Relief Administration: Created economic programs to channel money to help state and local agencies fund relief projects. Led by Harry Hopkins, a very influential man in Roosevelt’s administration. (spent $5 million in relief in two hours) CWA: Civil Works Administration:

10. TVA: Tennessee Valley Authority: PWA: Public Works Administration: developed construction projects to improve highways, sewers, schools, and other government facilities. Did not hire people directly-developed contracts with construction companies. Also insisted on the hiring of African Americans

11. Challenges to the New Deal -Criticism from Republicans: Downturns in the economy were inevitable. Let market forces cure the problems. In time, there will be new growth & recovery. -Criticism from Conservative Democrats: Conservative Democrats feared the increased power of the federal government at the states’ expense. -- Some formed the Liberty League – an anti-New Deal organization that argued Roosevelt was leading the U.S. toward socialism. Criticism from the Left -The Socialist Party blamed the Great Depression on capitalism. They argued the New Deal made the mistake of shoring up capitalism, rather than getting rid of it. -The Communist Party -Senator Huey Long -Charles Coughlin -Criticism from the Courts: Schechter Poultry Corp v. U.S. (1935) – Supreme Court invalidates the NIRA on the grounds it gave unconstitutionally broad powers to the federal government; the case suggested other New Deal legislation could be overturned.

12. 2nd New Deal Programs (1935) Despite the criticisms and emboldened by Democratic victories in the 1934 elections, Roosevelt laid out a new set of proposals that would push the New Deal further. The Second Neal Deal (reforms passed by Congress in July/August 1935) supported the working & lower- middle class by: 1) pressing for more jobs, 2) strengthening the position of labor, 3) providing a greater social safety net.

13. WPA: Works Progress Administration: NLRB: National Labor Relations Board: a.k.a. the Wagner Act – legislation that strengthened the legal position of trade unions; established the National Labor Relations Board to oversee industrial compliance and resolve employee grievances with management.

14. NYA: National Youth Administration: provided job training for unemployed youth and part- time jobs for needy students. Social Security Act: most far reaching element of the 1930s legislation; intended to provide a “safety net” for citizens who could not financially support themselves. Roosevelt considered Social Security the greatest legacy of his presidency. -Provided pensions….. -Unemployed people ….. -Federal grants provided help for the disabled. -Aid to Dependent Children Act (or welfare) – (Congress shelved a federal program for national health insurance.)

15. Attacks on the Wealthy and Large Corporations Revenue Act of 1935 – Public Utility Holding Company Act – placed rigorous political controls on utility companies and warned that if they did not offer good service at low cost to customers they would be broken up. The New Deal’s Peak: 1935 – 1936 Election of 1936 – Roosevelt was reelected, winning 48 states; both houses of Congress were ¾ Democrat.