LECTURE 03_The New Deal

Report
UNIT 5
CHAPTER 22 – CRASH AND DEPRESSION
CHAPTER 23 – THE NEW DEAL
THE GREAT
DEPRESSION
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PRESIDENTS OF THE UNITED
STATES
George Washington; Federalist (1788)
John Adams; Federalist (1796)
#21 - …
Thomas Jefferson (1800)
Chester A. Arthur; Republican (1881)
James Madison (1808)
Grover Cleveland; Democrat (1884)
James Monroe (1816)
Benjamin Harrison; Republican (1888)
John Quincy Adams (1824)
Grover Cleveland; Democrat (1892)
Andrew Jackson; Democrat (1828) William McKinley; Republican (1896)
Martin Van Buren; Democrat (1836) Theodore Roosevelt; Republican (1901)
William Henry Harrison; Whig (1840)
William Howard Taft; Republican (1908)
John Tyler; Whig (1841)
Woodrow Wilson; Democrat (1912)
James K. Polk; Democrat (1844)
Warren G. Harding; Republican (1920)
Zachary Taylor; Whig (1848)
Calvin Coolidge; Republican (1923)
Millard Fillmore; Whig (1850)
Herbert Hoover; Republican (1928)
Franklin Pierce; Democrat (1852)
James Buchanan; Democrat (1856) Franklin D. Roosevelt; Democrat (1932)
Abraham Lincoln; Republican (1860)
Andrew Johnson; Democrat (1865)
Ulysses S. Grant; Republican (1868)
Rutherford B. Hayes; Republican (1876)
James Garfield; Republican (1880)
America: Pathways to the Present
Chapter 23
The New Deal
(1933–1941)
OBJECTIVES
• CORE OBJECTIVE: Analyze the causes/effects of the
Great Depression as well as the costs/benefits of the
New Deal
• Objective 5.5: Describe the programs and areas of reform
for the New Deal.
• Objective 5.6: What were the main criticisms, setbacks,
and limitations of New Deal policies?
• Objective 5.7: Describe effects the New Deal had on
American culture and lasting effects on American society.
• THEME: President Roosevelt’s New Deal proved to be
only partially successful at ending the Great Depression.
Though critics were quick to point out the New Deal’s
many failures, it was hard to argue against its resounding
success in bringing hope to the nation and creating a
lasting influence on social and political attitudes.
America: Pathways to the Present
Chapter 23: The New Deal (1933–1941)
Section 1: Forging a New Deal
Section 2: The New Deal’s Critics
Section 3: Last Days of the New Deal
CHAPTER 23 SECTION 1 –
FORGING THE NEW DEAL
President Roosevelt sought to end the Great Depression
through the federal programs of the New Deal.
100 DAYS
• Franklin Delano Roosevelt (FDR) and Eleanor Roosevelt, the First
Lady, knew that restoring a sense of hope and building public
confidence were essential to calming panic and creating support
for the President’s plans.
• FDR promised “a new deal for the American people,” but he did not
have a sure plan for it.
• In the first hundred days of his presidency, Roosevelt
pushed many programs through Congress to provide relief,
create jobs, and stimulate the economy.
• Some of FDR’s programs were based on the work of federal agencies that had
controlled the economy during World War I and on agencies created by state
governments to ease the Depression.
• Former Progressives figured prominently, inspiring New Deal legislation or
administering programs.
• PUSHED THROUGH 15 MAJOR PIECES OF LEGISTLATION
THE NEW DEAL
• The term New Deal came to refer to the programs that
were aimed to fight the Great Depression.
• RELIEF
• “stop the bleeding”, immediate action to halt economic
deterioration
• Provide emergency help to suffering Americans
• Jobs, housing, food
• RECOVERY
• Jumpstart American business and productivity
• Enacting temporary programs to begin the flow of consumer goods
• REFORM
• Install permanent changes to avoid another
depression
RELIEF
• Stabilizing Financial Institutions
• FDR wanted to restore public confidence in the nation’s
banks.
• He imposed an emergency “bank holiday” to close all
banks and inspect their health (Emergency Banking Act)
• Congress passed the Emergency Banking Act, which authorized the
government to inspect the financial health of all banks.
• Providing Relief and Creating Jobs
• FDR persuaded Congress to establish the Federal Emergency Relief
Administration (FERA). FERA put money into public works programs,
government-funded projects to build public facilities and create
jobs.
• One public works program was the Civilian Conservation Corps
(CCC). The CCC put more then 2.5 million men to work maintaining
forests, beaches, and parks.
WHAT ARE THEY DOING?
• Regulating the Economy
RECOVERY
• In 1933, Congress passed the National Industrial Recovery Act
(NIRA). NIRA established the National Recovery Administration
(NRA)
• Tried to balance the unstable economy through extensive planning.
• The NRA established codes for fair business practices.
• These codes regulated wages, working conditions, production, and
prices, and set a minimum wage.
• Assisting Home-owners and Farmers
• The Federal Housing Administration (FHA) worked to
improve housing standards and conditions, and insure
mortgages.
• The Agricultural Adjustment Administration (AAA) raised farm prices
through subsidies.
• They paid farmers not to raise certain crops and livestock, hoping that
lower production would cause prices to rise.
• The Tennessee Valley Authority (TVA) provided jobs, hydroelectric
power, flood control, and recreational opportunities to farmers in the
underdeveloped Tennessee Valley.
REFORM
• FDIC
• Congress passed the Glass-Steagall Banking Act of
1933. This act established a Federal Deposit
Insurance Corporation which is a permanent agency
designed to insure depositors money in banks.
• Originally insured up to $5,000 per depositor today it
has increased to $100,000
• Securities & Exchange Commission (SEC)
• set up to monitor stock market activity and ensure
that no fraud or insider trading was taking place
BANK
FAILURES
BEFORE AND
AFTER THE
GLASSSTEAGALL
BANKING
REFORM ACT
OF 1933
KEY PLAYERS
• FDR surrounded himself with a “brain trust”
• This was an informal group of intellectuals to advise
the president
• Harry Hopkins, Raymond Moley (Columbia), Rex Tugwell, Adolf
Berle (Harvard)
• FDR was the first President to appoint a woman to a Cabinet
post.
• Frances Perkins, a former Progressive, became the Secretary of
Labor. She held the position until 1945.
• FDR also broke new ground by hiring African Americans in more than
a hundred policymaking posts.
• Eleanor Roosevelt was one of FDR’s most important
colleagues.
• She threw herself into supporting the New Deal.
THE SECOND NEW DEAL
• When the New Deal failed to bring about significant economic
improvement, critics began to attack the programs.
• Opponents warned that New Deal agencies were giving increasing
power to the federal government.
• The Supreme Court declared the NIRA unconstitutional because it
gave the President lawmaking powers and regulated local rather
than interstate commerce.
• The Supreme Court also struck down the tax that funded AAA subsidies
to farmers.
• In response to the critics & Supreme Court rulings against
programs, FDR’s administration launches a new wave of
programs in 1935.
The Second New Deal included more social welfare benefits,
stricter controls over business, stronger support for unions, and
higher taxes on the rich.
2ND ND PROGRAMS
• The New Deal also brought electricity to rural America.
• The Rural Electrification Administration (REA) offered loans to
electric companies and farm cooperatives for building power
plants and extending power lines.
• Before the 1930’s, only 10% of rural communities had electricity
• Congress passed the Social Security Act.
• This act provided financial security for people who could
not support themselves. The three types of insurance:
• Old-age pensions
• Unemployment insurance
• Aid for dependent children & disabled
THE 1936 ELECTION
• FDR won a landslide victory over Republican candidate
Alfred M. Landon.
• FDR carried every state except Maine and Vermont,
winning 523-8 in the electoral college.
• FDR’s 1936 election victory showed that most
Americans supported the New Deal.
FORGING A NEW DEAL—
ASSESSMENT
Frances Perkins was the first woman Cabinet member. What post
did she hold?
(A) Secretary of Defense
(B) Secretary of the Interior
(C) Energy Secretary
(D) Secretary of Labor
How did the National Recovery Administration try to balance the
unstable economy?
(A) By raising interest rates
(B) By limiting the money supply
(C) By establishing codes for fair business practices
(D) By creating a Social Security system
FORGING A NEW DEAL—
ASSESSMENT
Frances Perkins was the first woman Cabinet member. What post
did she hold?
(A) Secretary of Defense
(B) Secretary of the Interior
(C) Energy Secretary
(D) Secretary of Labor
How did the National Recovery Administration try to balance the
unstable economy?
(A) By raising interest rates
(B) By limiting the money supply
(C) By establishing codes for fair business practices
(D) By creating a Social Security system

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