UNIT 6 CHAPTER 22 – CRASH AND DEPRESSION CHAPTER 23 – THE NEW DEAL THE GREAT DEPRESSION

America: Pathways to the Present Section 1: Forging a New Deal Section 2: The New Deal’s Critics Section 3: Last Days of the New Deal Chapter 23: The New Deal (1933–1941)

George Washington; Federalist (1788) John Adams; Federalist (1796) Thomas Jefferson (1800) James Madison (1808) James Monroe (1816) John Quincy Adams (1824) Andrew Jackson; Democrat (1828) Martin Van Buren; Democrat (1836) William Henry Harrison; Whig (1840) John Tyler; Whig (1841) James K. Polk; Democrat (1844) Zachary Taylor; Whig (1848) Millard Fillmore; Whig (1850) Franklin Pierce; Democrat (1852) James Buchanan; Democrat (1856) Abraham Lincoln; Republican (1860) Andrew Johnson; Democrat (1865) Ulysses S. Grant; Republican (1868) Rutherford B. Hayes; Republican (1876) James Garfield; Republican (1880) #21 - …  Chester A. Arthur; Republican (1881)  Grover Cleveland; Democrat (1884)  Benjamin Harrison; Republican (1888)  Grover Cleveland; Democrat (1892)  William McKinley; Republican (1896)  Theodore Roosevelt; Republican (1901)  William Howard Taft; Republican (1908)  Woodrow Wilson; Democrat (1912)  Warren G. Harding; Republican (1920)  Calvin Coolidge; Republican (1923)  Herbert Hoover; Republican (1928)  Franklin D. Roosevelt; Democrat (1932)

CORE OBJECTIVE: Analyze the causes/effects of the Great Depression as well as the costs/benefits of the New Deal Objective 6.5: Describe the programs and areas of reform for the New Deal. 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.

President Roosevelt sought to end the Great Depression through the federal programs of the New Deal.

 FDR and Eleanor Roosevelt, the First Lady, knew that restoring a sense of hope and building confidence were essential to calming panic and creating support for the President’s plans.   In the first hundred days of his presidency, Roosevelt pushed many programs through Congress to provide relief 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 term New Deal described the programs that were aimed to fight the Great Depression. Programs separated into the three “R’s”:  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

 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 ) (March 1933) 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 The CCC put more then 2.5 million men to work maintaining forests, beaches, and parks.

WHAT ARE THEY DOING?

 FDIC Congress passed the Glass-Steagall Banking Act (1933) This act established a FDIC, which is an agency designed to insure depositors money in banks. o Originally insured up to $5,000 per depositor today it has increased to $100,000  Securities & Exchange Commission (SEC) (May 1933) Monitors stock market activity Companies that sell stocks must submit financial info

BANK FAILURES BEFORE AND AFTER THE GLASS- STEAGALL 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)  OTHER KEY PLAYERS FDR was the first President to appoint a woman to a Cabinet post. o Frances Perkins, a former Progressive, became the Secretary of Labor. She held the position until Eleanor Roosevelt was one of FDR’s most important colleagues. o She threw herself into supporting the New Deal.

 When the New Deal failed to bring about significant economic improvement, critics began to attack the programs. In response to the critics & Supreme Court rulings against programs, FDR launches a new wave of programs in The Second New Deal included more social welfare benefits, stricter controls over business, and higher taxes on the rich.  Congress passed the Social Security Act in This act provided financial security for people who could not support themselves.  The (3) types of SSA insurance: Old-age pensions Unemployment insurance Aid for dependent children & disabled Frances Perkins Secretary of Labor

 FDR won a landslide victory over Republican candidate Alfred M. Landon. FDR carried every state except Maine and Vermont, winning in the electoral college.  FDR’s 1936 election victory showed that most Americans supported the New Deal.

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

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