relief, reform, & recovery the new deal & its legacy
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Did not believe the government should give aid to the needy Worried aid would undermine self-reliance and encourage people to become
reliant on the government Believed his job to generate optimism and restore public confidence
Hoovervilles: Homeless Americans built cities out of cardboard boxes
Asked healthy banks to loan money to failing ones
Reluctantly created the Reconstruction Finance Corporation (RFC)- issued government loans to banks, railroads, and big business RFC loaned money to states to help with needy- financed public works
projects
HOOVER’S RESPONSE
Trickle-Down Theory: Government gives money to business they hire more employees more people earn money The problem with the trickle
down solution – the poor could not wait for money to trickle down.
Hoover battled the Bonus Army Hoover called in troops to push
the Bonus Army out of DC - used tear gas and tanks
Americans mad at the use of tanks to push out disabled veterans
HOOVER’S RESPONSE
Republican – Herbert HooverDemocrat – Franklin
Roosevelt 2-term governor of New York Distant cousin of Theodore
Roosevelt
Roosevelt won an overwhelming victory Immediately set to work
formulating a set of policies for his administration
Came to be known as the New Deal Focused on 3 general goals: Relief,
Recovery, & Reform Expanded the role of the federal
government
ELECTION OF 1932
Emergency Banking Act - Reformed banking system giving the federal government more power to supervise banksMarch 5 – Bank holidaySound banks would reopen
Insolvent banks would remain closed
March 12 – 1st Fireside Chat
THE FIRST ONE HUNDRED DAYS
Banking Act of 1933 Created the FDIC -
ensured every account up to $5,000
Limited freedom of banks to invest in stocks and bonds
Securities Exchange Commission (SEC) Required companies to
publish important facts about their business
THE FIRST ONE HUNDRED DAYS
National Industrial Recovery Act (NIRA) Established the National Recovery Administration (NRA) – Set minimum wages, maximum working hours, & minimum prices at which goods could be sold
Created the Public Works Administration (PWA) – oversaw large-scale construction projects
THE FIRST ONE HUNDRED DAYS
Agricultural Adjustment Administration (AAA) Helped farmers by
reducing crop production & raising prices
Tennessee Valley Authority (TVA) Developed construction
jobs in the Tennessee Valley
THE FIRST ONE HUNDRED DAYS
Civilian Conservation Corp (CCC)Gave young men jobs planting trees & working on other conservation projects
Federal Emergency Relief Act (FERA)Sent funds to states to distribute to the needy
THE FIRST ONE HUNDRED DAYS
By the end of his first term, FDR faced opposition from the Supreme Court In 1935, the Court
ruled that the National Industrial Recovery Act (NIRA) was unconstitutional
The following year, they struck down the Agriculture Adjustment Act (AAA)
FDR VS. THE SUPREME COURT
After winning re-election, FDR was ready to take on the Supreme Court He proposed a
plan to add a new justice for every justice over 70 years old
Labeled by critics as “court-packing”
FDR VS. THE SUPREME COURT
Wagner Act Protected the rights of workers
who joined unions & went on strike
Fair Labor Standards Act Regulated conditions in the
workplace Set a minimum wage- .25 Set maximum hours- 44 Ended oppressive child labor
Social Security Act Provided a pension for retired
workers & their spouses & helped people with disabilities
THE SECOND NEW DEAL
Rural Electrification Administration (REA) Established hundreds of
publicly owned electric cooperatives, built generating plants, & strung power lines
Works Progress Administration (WPA) Set out to create as many
jobs as possible as quickly as possible
In its 1st year, the WPA put 3 million Americans to work
THE SECOND NEW DEAL
Conservative Critics Believed that New
Deal had gone too far in expanding the role of government
Compared the New Deal to socialism
Father Charles Coughlin
Al Landon Robert Taft
CRITICS OF THE NEW DEAL
Radical Critics Believed the New Deal
should give greater aid to the needy
Huey Long (LA) “Every Man a King” Wanted to take money from
rich & give every family a grant of $5,000, a guaranteed job, & an income of $2,500 a year
Frank Townshend Proposed a guaranteed
income plan for senior citizens
Led to the creation of the Social Security Act
CRITICS OF THE NEW DEAL
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