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15.1 A New Deal Fights the Depression

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Presentation on theme: "15.1 A New Deal Fights the Depression"— Presentation transcript:

1 15.1 A New Deal Fights the Depression
How did FDR’s programs fight the Depression?

2 Change Takes Hold Hoover had believed at first that the Depression was just another slow down that would end on its own He thought that the government should take some action, but not give too much aid to poor people He created several programs that helped some people, but his popularity fell and by 1932 people wanted a change, and Democrat Franklin Delano Roosevelt (FDR) was elected in a landslide


4 Continued Roosevelt and his advisors planned programs to end the Depression that were known as the New Deal, which had three goals: Relief for the needy Economic recovery Financial reform

5 The New Deal In the first Hundred Days of the New Deal, Congress quickly passed many important laws that expanded the federal government’s role in the nation’s economy Roosevelt declared a bank holiday, closing them to prevent any more bank failures Congress passed several reforms to restore public confidence in banks, like the Glass-Steagall Act, which established the Federal Deposit Insurance Corp. (FDIC), which insures your money at banks

6 Continued Congress also passed the Federal Securities Act, which made companies give accurate information in its stock offerings They also created the Securities and Exchange Commission (SEC) to regulate stock markets FDR spoke directly to the American people through radio ‘fireside chats’ that explained New Deal measures and asked for public support


8 Helping the American People
Roosevelt worked to help farmers and workers through several reforms: Agricultural Adjustment Act (AAA): helped raise crop prices by lowering production Civilian Conservation Corps (CCC): put young men to work building roads and planting trees Federal Emergency Relief Administration (FERA): provided direct relief of food, clothing, and cash to the poor National Industrial Recovery Act (NIRA): set codes of fair practice for industries and guaranteed workers the right to unionize


10 The New Deal Comes Under Attack
Roosevelt paid for New Deal programs through deficit spending, or spending more money than the government receives in revenue Some claimed that it did not do enough to help the poor The Supreme Court found the NIRA and AAA unconstitutional, which upset FDR and he proposed a bill to allow him to appoint more Supreme Court justices

11 Continued Critics claimed that FDR was trying to ‘pack the court’ with justices who supported him He got around this issue by having several justices retire or resign, so that he was able to appoint seven new justices FDR’s most famous critic was Senator Huey Long of Louisiana, who early on supported the New Deal but also wanted to become president He was assassinated in 1935 before he could try to run against FDR

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