Transcript USH 12:1 - Eastern Upper Peninsula ISD

USH 12:1
• 32nd President
– Franklin D. Roosevelt (1933-1945)
• Philosophy: we need to experiment
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• “The New Deal”
– Roosevelt’s policies for ending the Depression
• The Hundred Days
– Roosevelt sends many bills to Congress
– Congress passed 15 major acts
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• “Fireside Chats”
– Roosevelt explained his plans and goals
– Millions of families gathered around the radio
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• Securities and Exchange Commission (SEC) (1934)
– Regulate stock market and prevent fraud
– Created from Glass-Stengall Banking Act
• Federal Deposit Insurance Corporation (FDIC)
– Government insures deposits up to a certain amount
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• Home Owners Loan Corporation (HOLC)
– Government bought home loans
– Restructured payment amount and loan length
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• Farm Credit Administration (FCA)
– Helped farmers refinance their mortgages
• Agricultural Adjustment Act (AAA)
– Farmers grew too much food
• Kept prices low
– AAA paid farmers to not grow certain crops
• 6 millions pigs / 200,000 sows slaughtered
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• National Industrial Recovery Act (NRA)
– Suspended anti-trust laws
– Business, labor, government: work together to
make rules for each industry
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• Relief Programs
– Civilian Conservation Corps (CCC)
• Unemployed males 18-25 worked for forest service
– Federal Emergency Relief Administration (FERA)
• Gave money to state and local governments
– Public Works Administration
• Construction industry
• Built highways, dams, sewer systems
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• Civil Works Administration (CWA)
– Same as PWA, but government directly hired
workers
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• Legacy of “First New Deal”
– Americans recover a sense of hope
– Government involved in the economy as never
before
– Long-term effects of Depression still lingered