FDR OFFERS RELIEF AND RECOVERY

FRANKLIN DELANO ROOSEVELT (FDR) Election of 1932: FDR vs. Hoover

1. FDR’S BACKGROUND Came from a wealthy family, good education Married his distant cousin Eleanor Roosevelt Both related to TR Bout with polio but made a political + physical comeback Was elected governor of NY in – Won the Democratic Party’s nomination for their presidential candidate. Pledged a “ New Deal ” w/ gov’t intervention to help the country out of the Great Depression.

VOTERS ELECTION A NEW PRESIDENT

2. PUTTING TOGETHER A WINNING TEAM “ Brain Trust ” FDR’s team of diverse and intelligent men + women to help devise his New Deal. Included 2 Republicans (Sec. of Interior and Sec. of Agri.) Frances Perkins – first female cabinet member in US history Secretary of Labor Relied heavily on his wife Eleanor (example: Bonus Army of 1933)

3. THE HUNDRED DAYS March 6 – June 16, 1933 : FDR pledged a bold, rapid-fire reform and called Congress into session Passed 15 major New Deal legislations that supported his promise to bring about the Three R’s : relief, recovery + reform Relief from hardships Economic recovery Reform to prevent further problems Expanded the role of federal gov’t far beyond it had ever been before

4. FDR SWIFTLY RESTORE THE NATION’S CONFIDENCE On the day of his inauguration he called Congress into a special session: First goal – banks Passed the Emergency Banking Bill: give FDR broad powers 4-day bank holiday  banks close to get accounts in order 8 days into presidency: FDR gave an informal radio speech to the American ppl First of many fireside chats : Explained the 4-day bank holiday w/ soothing words and tone to calm the ppl

5. REGULATING BANKING AND FINANCE Federal Deposit Insurance Corporation (FDIC) Insured bank deposits up to $5000 Slowed runs on banks to a halt b/c ppl had confidence they would get their $ back Securities and Exchange Commission (SEC) Regulate the stock market  make safe for investments Investors reassured in the stability of stocks

6. HELPING THOSE WORST OFF Farmers Agricultural Adjustment Act (AAA) - attempted to raise prices by paying famers not to grow crops, controversial Immoral to kill livestock and burn perfectly good food while ppl were starving Americans living in the Tennessee River Valley Tennessee Valley Authority (1933) – TVA created a system of dams for flood control and hydroelectricity in the Tennessee River valley Drew critics who called it socialist as no private company could compete w/ this tax free entity Still around today!

7. PROVIDING RELIEF AND PROMOTING INDUSTRIAL RECOVERY Civilian Conservation Corps (1933) – The CCC employed young men to work on environmental projects FDR’s “favorite” New Deal” program Young men out of work due to Great Depression and caused most crimes Eventually extended to more groups (minorities, etc) National Recovery Administration (NRA) Developed codes to insure fair competition w/in industries Minimum wages, price floors, then put $ back into economy Public Works Administration (1933) – PWA helped states build bridges, roads, and schools, ∴ creating jobs and improving useful infrastructure

OPPOSITION TO THE NEW DEAL EMERGES Liberal critics said the New Deal did not go far enough They included Communists, Socialists, and politicians who saw an opportunity to gain votes by making wild promises to those desperate for help. Conservative critics said many of the New Deal programs gave the federal gov’t too much power

ON THE (FAR) RIGHT American Liberty League : formed to combat the liberalism of the New Deal Argued it was far too many gov’t intervention Far Right: said FDR “Out Hoovered Hoover” Fr. Charles Coughlin —initially a supporter of FDR—was a Catholic priest who broadcast a weekly radio show with an audience of millions. By 1935, he began criticizing FDR and argued for the nationalization of industry Blamed the Depression on a conspiracy of international Jewish bankers and became very publically anti-Semitic Became a strong supporter of Mussolini and Hitler He was silenced by the Catholic Church.

ON THE (FAR) LEFT Senator Huey P. Long - radical program “Share Our Wealth” Long’s plan called for a guaranteed income of $5000 for every American. To be paid for by a 100% tax on incomes over $1 million dollars. Long announced he was considering running for President in 1936, His popularity threatened to draw votes away from FDR. Assassinated in Francis Townsend’s Townsend Plan leads to Social Security.