The New Deal Adapted from:

2 The “Old Deal” What? President Hoover’s reaction to the Great Depression President Herbert Hoover

3 The “Old Deal” What did he want to do? Did “too little, too late…” Let the business cycle take care of things (laissez- faire) Children in one of the Bonus Army Camps Seemed unsympatheic to the plight of Americans.

4 The Bonus Army ,000 WWI veterans Who? Marched to Washington D.C. to get a $ bonus they were supposed to get in 1945 What?

5 The Bonus Army 1932 Called out the troops and dispersed the army What did Hoover do?

6 The Election of 1932 Roosevelt offers a “New Deal” for America Roosevelt wins with 60% of the vote What?

7 In his inauguration speech, FDR stated that, “the only thing we have to fear is fear itself.”inauguration“the only thing we have to fear is fear itself.” Inauguration of FDR, March 4, 1933 Roosevelt’s Inaugural Speech

8 FDR gathered information from many economic experts, known as the Brain Trust, on how to fight the depression. The Brain Trust

9 Roosevelt’s New Deal What? Programs meant to help the country by getting the government involved in the economy 1. Relief - help people out in the short term 2. Recovery - get the economy back on its feet 3. Reform - keep this from everyhappening again Meant to do 3 things

10 Bank Holiday - First Step Why? Many banks had failed, wiping out families’ savings People lost confidence in the banks Depositors Congregate Outside Closed Bank

11 Bank Holiday - First Step How? Closed banks for four days to reorganize President explains in a “fireside chat” He speaks directly to the people of America

12 FDR’s goal was to reassure people that banks were safe to use again.

13 Next Step - “Alphabet Soup” In the first 100 days of his administration Roosevelt passes much legislation Hundred Days The nickname for the many programs created to solve the Depression and help people. Alphabet Soup

14 Next Step - “Alphabet Soup” year old men get jobs and send money home to their families America builds crucial infrastructure for the 20 th century CCC - Civilian Conservation Corps CCC workers in Lassen National Forest, California

15 Next Step - “Alphabet Soup” Government pays farmers not to farm AAA - Agricultural Adjustment Administration Meant to cause prices to rise and halt overproduction

16 Next Step - “Alphabet Soup” Government runs a hydroelectric power plant TVA - Tennessee Valley Authority Provides cheap power & fertilizer to the poor region Construction at Norris Dam, which was being built by the TVA on the Clinch River in Northeastern Tennessee

17 Next Step - “Alphabet Soup” Insurance for the $ you put in banks FDIC - Federal Department Insurance Corp. Protected people’s savings Bank Employee Checks Depositor's Account Stops bank runs

18 Next Step - “Alphabet Soup” Watchdog agency for the stock market Designed to stop speculation and margin-buying SEC - Securities and Exchange Commission New York Stock Exchange

19 Next Step - “Alphabet Soup” Gave direct relief ($) to those who needed it FERA - Federal Emergency Relief Admin. Beginnings of a welfare program

20 Next Step - “Alphabet Soup” Taxed people working now to give payments to the elderly Social Security Social Security Information Poster

21 Thinking Slide: Which program was most controversial and why?

22 His Greatest Mistake Packing the Supreme Court What? Why? Increase the # of Supreme Court justices from 9 to 15 Kept declaring his programs unconstitutional (including NRA, AAA, SEC, etc.)

23 His Greatest Mistake Packing the Supreme Court February, 1937, Richmond (Virginia) Times Dispatch, "Fall In!" What did this cartoonist think about the Supreme Court?

24 His Greatest Mistake Packing the Supreme Court Results? Public grew angry (FDR taking too much power) FDR passed much less legislation after this Supreme Court Exterior

25 The New Deal - Pros and Cons Pros Restored optimism and hope to Americans Cons Did not really fix the depression Left the nation with much debt Provided necessary relief to many Left people too dependent on government (?)