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11. What has been the long term effect of the New Deal on the economy, industrial & farm workers, and banking &

11. What has been the long term effect of the New Deal on the economy, industrial & farm workers, and banking & finance. By: Esther Yoo Courtney Breen Christian Whalley. Economy. President & Federal Government = More Active In what ways were they “more active”: Millions of dollars

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11. What has been the long term effect of the New Deal on the economy, industrial & farm workers, and banking &

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  1. 11. What has been the long term effect of the New Deal on the economy, industrial & farm workers, and banking & finance. By: Esther Yoo Courtney Breen Christian Whalley

  2. Economy • President & Federal Government = More Active • In what ways were they “more active”: • Millions of dollars • Created Federal Jobs • Attempted to regulate supply and demand • Set labor & Management disputes

  3. Effects of the New Deals • Reduced the suffering of everyone • Alleviated many problems • Regained sense of dignity • The Federal Government had to go in debt in order to provide jobs and aids • Deficit Spending

  4. Industrial Workers • Before: • Workers on their own • Government sided with business not labor • During: • Wagner Act and Fair Labor Standards Act • Wages, hours, and banned child labor

  5. Farmers • First Agriculture Adjustment Act • Set quotas • Second Agricultural Adjustment Act • Parity • Price supports Federal Aid • Rural Electrification Administration • Cheap electricity • Farmers Subsidizing and workers minimum wages • More money • Economy began to recover

  6. Banking and Finance • The New Deals: • Securities and Exchange Commission (SEC)- continues to monitor the stock market and enforce laws regarding sale of stocks and bond • Federal Deposit Insurance Corporation (FDIC)- shored up the banking system by reassuring individual depositors that their savings are protected against bank failures • Today: • Individual accounts in US federal banks are insured by FDIC for up to $100,000

  7. Important Key Terms • Parity: - a government-supported level for the prices of agriculture products, intended to keep farmers’ income steady. • Deficit Spending: - spending more money than the government receives in revenue. • National Labor Relations Board: -Created under Wagner Act, continues to act as a mediator in labor disputes between unions and employers

  8. Diagram: Federal Deficit and Unemployment

  9. Pictures/Cartoons

  10. How did the New Deal legislation effect the nations economy? More people had more money to spend Solved all the problems of the depression Didn’t do very much

  11. A. More people had more money to spend There were more jobs and aid which gave a majority of people more money to spend.

  12. What was created by the Glass-Steagull Banking Act and why is it so important? Securities and exchange commission; monitors stock and market, & enforces laws regarding the sales of stocks and bonds. FDIC; protected against the loss of savings in the event of bank failure. Emergency banking relief act; authorized the treasury department to inspect banks.

  13. B. FDIC; protected against the loss of savings in the event of bank failure The federal deposit insurance corporation was made in order to protect savings in case of another event such as the stock market crash.

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