2 1932 Election - Turning Point The choice of FDR over Hoover was an American choice for the federal government to provide relief for its citizens.THIS IDEA ABOUT OUR GOVERNMENT HAS NOT CHANGED SINCE THIS ELECTION.
3 “Brain Trust” – Group of Columbia Professors who advised FDR on policy.
4 The 1st Hundred Days 1933 Pushed massive legislation through congress Aka… “THE NEW DEAL”Pushed massive legislation through congress1933Purpose of the New Deal –Provide reliefCreate jobsStimulate economy
5 March 5th, Bank HolidayFDR orders all banks to close four 4 days to inspect their own financial health.Congress passes the Emergency Banking Act which authorizes Federal Gov’t to inspect all bank records to ensure banks are making good investments.67% of banks reopen by March 15th.Gov’t proclaims them safe & secure for Americans (even if not all of them were!!!!!)People begin bringing their money back to banks.Banks can begin loaning out money again.
6 New Deal Major PlayersWomen and Minorities – FDR was the 1st president to appoint women and African Americans to major government postsMary McLeod Bethune – Advisor to FDR on African Americans & educationFrancis Perkins – Secretary of Labor
7 PoliticalChanged people’s view of the role of government.
8 Eleanor Roosevelt – Traveled the country doing PR for the President’s programs. (2nd Bonus Army)
9 New Deal Criticisms –Programs had no immediate effect on the nation’s economy;Progressives: didn’t do enough for the little manConservatives: Made the govt. too powerful.
10 FDIC – Federal Deposit Insurance Corporation Created by the Glass-Stegall Act of Federal Government guarantees bank deposits. Gave Americans increased confidence in the U. S. banking system.
11 Securities Exchange Commission Regulates the Stock Market
12 2nd New Deal 1935-38 Goals More social welfare Stricter controls over businessStronger support for unionsHigher taxes for the richFDR was forced to cut back on 2nd New Deal Programs because of a rising national debt because of deficit spending.
24 New Deal is Unconstitutional! NIRA (National Industrial Recovery Act) – reorganizes industry by setting prices, production levels, wages, & workers’ rightsAAA (Agricultural Adjustment Act) – reorganizes agriculture by telling farmers how to farm, what to farm, how much to farm, and what will be paid for cropsSupreme court strikes down both the NIRA and the AAA as unconstitutional.