Transcript THE NEW DEAL - Vista Unified School District

THE
NEW DEAL
FROM 1933
“Happy days are here, again”
• Franklin Delano
Roosevelt,
(NY gov.)
campaigns on
appeals to the
“Forgotten Man”
ELECTION OF 1932
Electoral College
Franklin D. Roosevelt (N.Y.)
John N. Garner (Texas)
Democratic
472
22,821,857
Herbert C. Hoover (Cal.)
Charles Curtis (Kansas)
Republican
59
15,761,845
Norman M. Thomas (N.Y.)
James H. Maurer (Penna.)
Socialist
0
881,951
William Z. Foster (New York)
James W. Ford (Alabama)
Communist
0
102,785
William D. Upshaw (Georgia)
Frank S. Regan (Illinois)
Prohibition
0
81,869
W.H. Harvey (Arkansas)
Frank B. Hemenway (Wash.)
Liberty
0
53,425
Verne L. Reynolds (N.Y.)
J.W. Aiken (Massachusetts)
Socialist Labor
0
33,276
Jacob S. Coxey (Ohio)
Farmer-Labor
0
7,309
“ I pledge a new deal for
the American people.”
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“competitive” tariffs
“sound” currency
finance reform
veteran’s pensions
farm aid
balanced budget
Inaugural Address, March 4,1933
• “The only thing we have to fear…is fear itself!”
Bank Holiday!!!
• Banks will close for 4 days, be “inspected”,
declared safe before they can re-open.
“100 Days”
• extraordinary legislative activity from
March to June of 1933
• bi-partisan support
• some bills passed with 45 minutes of
debate
Relief, Recovery, Reform
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FERA
Federal Emergency Relief Act
•
provides direct relief and matches
state dollars.
CCC
Civilian Conservation Corps
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FDR’s pet project
unemployed
18-24 year-olds
maintain/improve
public lands
work camps
$30 per month
2,000,000 by 1941
relief
CCC
Civilian Conservation Corps
CCC
Civilian Conservation Corps
AAA – Agricultural Adjustment Act
• pays farmers to decrease production in order to
raise prices
– wheat and corn farmers paid not to plant; bad weather had already reduced
planted acreage
– hog kill to raise pork prices for farmers, paid farmers to kill 5 million baby pigs
and 200,000 sows by September 1933; gave 100m lbs to relief
• price supports
• (hurts tenant farmers)
• recovery
AAA – Agricultural Adjustment Act
TVA
• Tennessee Valley Authority
• flood control, electrification, economic
development, navigation, aquaculture
• recovery
• reform
TVA
Glass-Steagall Act
• separates banks by function
– investment vs. commercial
– depository vs. securities
• FDIC
• other finance reform
• relief – recovery -- reform
Banking Reform
• EBA 1933 sets regulatory framework for the
1934 founding of the SEC
– SEC: Securities and Exchange Commission
• regulates the stock market
• FDR gradually/partially takes US off the
“gold standard” (until 1945)
“Fireside Chats”
• We look forward to a world founded upon
four essential human freedoms. The first is
freedom of speech and expression-everywhere in the world. The second is
freedom of every person to worship God in
his own way-- everywhere in the world. The
third is freedom from want . . . everywhere
in the world. The fourth is freedom from
fear . . . anywhere in the world.
--President Franklin D. Roosevelt, Message to
Congress, January 6, 1941
“2nd New Deal” from 1935
• NLRA and the Wagner Act, NLRB
Social Security Act 1935
• 1% payroll tax
• 1st benefit $22.74
• REFORM
WPA
• Works Progress Administration
• authorizes $5 billion in public projects
• helps teachers, historians, artists,
musicians, theaters
RECOVERY
Indian Reorganization Act 1934
• self-governing corporations
• reversed policy of reservation sell-offs
reform
Eleanor Roosevelt
did it woRK?
DID THE NEW DEAL END THE DEPRESSION?