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12.1: The First New Deal - PowerPoint PPT Presentation

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12.1: The First New Deal. 1932 Election 32 nd President (vs. Hoover). Landslide win All “things” democratic Pres. and congress Pres. Obama Worked while waiting for inauguration March; 20 th Amend. to Jan. 1933. A. Franklin D. Roosevelt: The “can-do” president.

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12.1: The First New Deal

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12.1: The First New Deal

1932 Election 32nd President (vs. Hoover)

Landslide win

All “things” democratic

Pres. and congress

Pres. Obama

Worked while waiting for inauguration

March; 20th Amend. to Jan. 1933

A. Franklin D. Roosevelt: The “can-do” president

B. What was the New Deal?

Policies developed by FDR that would give relief to the needy, economic recovery, and financial reform (3 R’s)

  • What kind of issues does he have to address in order to make changes related to the 3 R’s?

C. First Hundred Days

  • Precedent set by FDR

  • Represents the time period in which the sitting president tries to pass as many bills as possible

1. Gold standard:

1 oz. of gold = set dollar amount

Thought it would reduce value of the dollar = increased bank runs

2. Bank Holidays

Closed banks before bank runs bankrupt them

Inspected by gov’t to ensure they were secured = Emergency Banking Relief Act

Restores confidence by the people

D. Concern of the people

Talking directly to Americans

Informing them of plans/policies

Build confidence in banks

E. Fireside Chats

Est. Federal Deposit Insurance Corporation (FDIC)




F. Glass-Steagall Banking Act

G. Reforming Banking and Finance

  • Finance/Stockmarket

    • Federal Securities Act: co. makes stock info public

    • Securities and Exchange commission (SEC): regulate stock market, “insider trading”

H. Home Owners Loan Corporation (HOLC)

  • Gov’t loans to avoid foreclosure, only if you still have an income

1. Agricultural Adjustment Act

Lower production = _____ prices

Gov’t will pay subsidy (financial support/price supports)

Commercial farmers benefited most

Tenant farmers lost jobs and homes (AA)

I. Helping America’s Farmers

2. Farm Credit Administration (FCA)

  • Helped farmers refinance their mortgages

  • Usually helped farmers who were not prosperous – money could have went to those businesses who were more profitable = better economic benefit

J. Helping Industry:

  • National Industrial Recovery Act

    • Established fair practice codes and regulations

    • Considered unconstitutional - Why?

2. National Recovery Administration

  • Set prices on products to ensure fair competition, banned child labor, and set work hours

  • Allowed for unions

K. Relief Programs

1. Civilian Conservation Corp

  • Roads, planting trees, flood control, soil erosion

  • $5/$25

  • Free food & uniforms

2. Federal Emergency Relief Administration

  • Direct aid for food & clothes

L. Creating Jobs

  • Public Works Admin (PWA) turned to the Civil Works Admin (CWA)

    • PWA for all types of construction

    • Ineffective; awarded contracts, not direct hire

  • CWA more effective due to direct hiring

Taxes applied to raise revenue for federal government

M. 1933: 21st Amendment

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