1. A New Deal Fights the Depression
Ch 23 Sec 1 (p )

2. Election of 1932 Republicans nominate Hoover again
Democrats nominate Franklin Delano Roosevelt (FDR)
3 term governor of New York

3. FDR wins Roosevelt won in a landslide.
Won pop. vote by 7 million
Democrats gained seats in the House and the Senate.

4. FDR was active during the “lame duck” period
Carefully picked his advisers – the “Brain Trust”
Designed a plan to alleviate the country’s troubles.
Called the “New Deal” (from a campain promise)

5. The New Deal
Focused on 3 R’s
Relief
Recovery
Reform

7. Hundred Days
FDR’s administration very active after taking office

8. Banking Reform FDR declares “bank holiday” 1 day after taking office
Emergency Relief Banking Act - Authorized Treasury Dept. to inspect banks
Glass-Steagall Act (1933) – established Federal Deposit Insurance Corporation (FDIC) – insured individual bank accounts.
Federal Securities Act – required corporations to provide info on stocks
Securities and Exchange Commission (SEC) – regulates stock market

9. Help for Farmers
Agricultural Adjustment Act (AAA) – tried to raise crop prices by lowering production. Upset some. Later struck down by Supreme Court

10. AAA Goal was “Parity” to purchasing power that was enjoyed 1909-1014
“subsidized scarcity” did raise farm income but met a lot of criticism

11. Rural Assistance
Tennessee Valley Authority (TVA) – assisted Tennessee River Valley.
Provided flood control, electricity, and jobs.

13. Fontana Dam – Western NC

15. Work Projects
Civilian Conservation Corps (CCC) – put young men aged to work building roads, developing, parks, planting trees, other env. projects
National Industrial Recovery Act (NIRA) – gave money to states to create jobs in school and community construction.
Civil Works Administration (CWA) – teachers, etc.

16. Fair Labor Practices
National Recovery Administration (NRA) - set prices of many products and est. standards for labor
NIRA guaranteed workers’ right to unionize and bargain collectively.

17. Help for Homeowners
Homeowners’ Loan Corporation (HOLC) and Nat’l. Housing Act assist Homeowners in paying mortgages.

18. Federal Emergency Relief Association
(FERA) - $500 million in direct relief to the needy.

19. Deficit Spending
Spending more $ than the government receives in revenue.

20. National Debt as of 2/27/06

21. Each citizen’s share of national debt
$27,652.30
Daily Increase:
$2.17 billion per day

22. New Deal Critics Conservatives think government takes too much power
Liberals don’t think government does enough

23. The New Deal: Hamiltonian or Jeffersonian?

25. The New Deal and the Supreme Court
The Supreme Court declared the NIRA and the AAA unconstitutional.

26. Court-Packing
FDR gets Congress to reorganize the judiciary so that he can appoint six new Supreme Court Justices
(a little like Adams’ Midnight Judges)

27. Court Packing Caused a rift among many Roosevelt supporters
First of FDR’s bills to be defeated by Congress

28. Critics of the New Deal Father Charles Coughlin
Dr. Francis Townsend – benefits for the aged
Huey Long – assassinated (“Every Man a King”)