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The New Deal Fights the Depression. Main Idea - After becoming president, Franklin Delano Roosevelt used government programs to combat the Depression After this section, we should be able to: Summarize the initial steps Roosevelt took to reform banking and finance

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main idea and objectives

Main Idea - After becoming president, Franklin Delano Roosevelt used government programs to combat the Depression

  • After this section, we should be able to:
    • Summarize the initial steps Roosevelt took to reform banking and finance
    • Describe New Deal work programs
Main Idea and Objectives
franklin delano roosevelt
Franklin Delano Roosevelt
  • Republicans knew that President Hoover wasn’t going to win re-election – too many people blamed him for problems
  • Democrats nominated Franklin Delano Roosevelt
    • Can-do attitude
    • Air of friendliness and confidence
  • Roosevelt won election of 1932 easily
roosevelt takes over

During the waiting period between his election and inauguration, FDR collected a group of advisers known as his “Brain Trust” to formulate policies for his presidency

  • Roosevelt proposed a new set of policies to alleviate the problems of the Depression
    • programs would be known as the New Deal
Roosevelt Takes Over
the first 100 days

In his first 100 days as president, FDR helped Congress pass 15 major pieces of his plan

  • By 1933, many Americans had lost faith in the banking system – FDR wanted to restore that
  • Emergency Banking Relief Act authorized Treasury Department to inspect banks and let them re-open if they were sound
The First 100 Days
fireside chats
Fireside Chats
  • FDR started giving fireside chats radio addresses, to help restore people’s confidence
  • FDR spoke in clear, simple language to explain the problems with the banks
    • Banks didn’t hold all the money in cash
    • People should not lose confidence in the banks because of this
  • Over the next few weeks, people began to return their money to the banks
other banking and finance changes

Glass-Steagall Act established the Federal Deposit Insurance Corporation (FDIC)

    • government would insure accounts of up to $5,000
  • Securities and Exchange Commission (SEC)regulate stock market
  • FDR also persuaded Congress to allow the sale of some alcoholic beverages
    • Goal was to raise money through taxes
Other Banking and Finance Changes
helping americans rural assistance

Agricultural Adjustment Act paid farmers to grow less produce and lower the supply

  • Farmers plowed under acres of crops or destroyed other produce
  • Many people angered by the destruction of food when many Americans were starving
  • However, it helped raise farm prices and put more money in farmers’ pockets
Helping Americans - Rural Assistance
providing work
Providing Work
  • Civilian Conservation Corpsput young men to work building roads, parks, planting trees, etc.
  • Public Works Administration (created as part of the National Industrial Recovery Act)gave states money to create jobs in construction of schools and other community buildings
food shelter and clothing

The Home Owners Loan Corporationprovided government loans to homeowners who faced foreclosure

  • Federal Housing Administration still helps people get loans for home mortgages and repairs today
  • Federal Emergency Relief Administrationprovided direct relief to the needy
Food, Shelter, and Clothing
the second new deal

By 1935, the first New Deal programs had improved the economy, but not as much as FDR had hoped

    • Unemployment still high
    • Production still lagged behind 1920 levels
  • First New Deal had been very popular
  • Election of 1936 was a landslide victory for FDR
The Second New Deal
roosevelt extends relief
Roosevelt Extends Relief
  • Works Progress Administration set out to create jobs for youths, professionals, and other workers
    • Used $11 billion to create jobs for more than 8 million workers
    • Built 850 airports, constructed or repaired 651,000 miles of roads and streets, and put up more than 125,000 public buildings
    • Many women worked in sewing groups to create clothes for the needy
    • Helped restore dignity for a lot of people – they worked, they got paid
roosevelt extends relief part ii
Roosevelt Extends Relief (Part II)
  • National Youth Administration created to provide education, jobs, counseling, and recreation for young people
  • Provided aid to high school, college, and graduate students
    • In exchange, students worked at part time jobs at their schools
improving labor and other reforms

National Labor Relations Act or Wagner Act – reestablished the right for unions to engage in collective bargaining with employers

    • They could discuss new contracts with their employers together
    • Employers couldn’t threaten workers, fire union members, or interfere with unions
Improving Labor and Other Reforms
labor continued

Fair Labor Standards Act (1938)

    • Set maximum work hours at 44 per week, decreasing to 40 after two years
    • Set minimum wage at 25 cents per hour, increasing to 40 by 1945
    • Set rules for employment of people under 16 and banned hazardous work for anyone under 18
Labor (Continued)
social security act

Social Security Act (1935)created the social security system

    • Old-age insurance for retirees 65 years and older and their spouses
    • Unemployment compensation system
    • Aid to families with dependent children and the disabled
  • Provided substantial benefits to many Americans
Social Security Act