Tennessee Valley Authority (TVA)

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Presentation transcript:

Tennessee Valley Authority (TVA) The TVA also drove people off their lands Land acquired through eminent Domain. (Little Cedar Mountain)

Reforming the Economic System Truth in Securities Act-required corporations to fully inform the public about their stocks

Reforming the Economic System The FDIC (Federal Deposit Insurance Corporation) created in 1933 protects, even today, bank depositors it guaranteed bank deposits up to 2,500. today they Guarantee deposits over $100,000.

Obstacles to the New Deal In 1935 & 1936 the Supreme Court declared several New Deal measures unconstitutional.

Obstacles to the New Deal One of the programs found to be unconstitutional was National Recovery Agency (NRA). Roosevelt wanted to increase the number of judges on the court by 6 but met with opposition from republicans.

Obstacles to the New Deal Congress embarrassed FDR by defeating his plan to increase number the judges. FDR eventually replaced 8 judges.

Criticism of the New Deal Business was too regulated by government Some thought business was not regulated enough

Criticism of the New Deal Sen. Huey Long (D) LA Proposed taxation on the wealthy and distribute that wealth to the poor.

Criticism of the New Deal Dr. Francis Townsend Called for a system of pensions, or retirement payments. Americans over the age of 60 would receive $200 a month so long as they spent it all.

Criticism of the New Deal It never took hold but lead the way for the Social Security System

Criticism of the New Deal Fr. Charles Coughlin Coughlin used the radio to attract followers and called on government to take over the banks.

Criticism of the New Deal Long, Townsend and Coughlin joined forces in the 1936 presidential election to form a third party. Huey Long Fr. Charles Coughlin Dr Francis Townsend

Review Why did FDR try to increase the size of the Supreme Court? How did FDIC protect bank depositors? What was the goal of the NRA? How did the CCC and the WPA help the jobless? What was the goal of FDR’s bank holiday?

Review Why do you think Roosevelt beat Herbert Hoover during the 1932 Presidential election? Thinking back in section 1 of this chapter, how did Hoovers policies differ from FDR’s? What effect might the Truth-in-Securities Act have on the practices of investors?

Review What were some of the criticisms of the New Deal?