Objective: To examine the formation of the New Deal.

1932 Election Herbert Hoover(R) Franklin D. Roosevelt(D)

Franklin Delano Roosevelt Franklin Delano Roosevelt (FDR) won the 1932 Presidential election by a landslide 472-59 Electoral College Votes.

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

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

FDR’s Brain Trust -Harry Hopkins - Social Worker and the architect of much of the New Deal. -Henry Morgenthau -Louis Lowe -Cordell Hull -Frances Perkins - Sec. of Labor and first female in the cabinet. -Sam Rosenman -Raymond Moley -Rexford Tugwell

Saving the Banks Bank run, New York City, 1931

Roosevelt declared a “bank holiday”, closing every bank in the nation for eight days.

Congress then passed the Emergency Banking Relief Act, which only allowed banks to open if they had enough funds to pay their depositors. FDR signing the Emergency Banking Relief Act into law.

The New Deal FDR developed many new bills that created programs to help end the Great Depression. These programs were known as the New Deal.

II. plans for economic Recovery I. Relief for the unemployed The New Deal had three major goals: III. Reforms to prevent another depression

Relief for the unemployed WPA-Works Progress Administration Infrastructure, roads, parks, airports, etc. CCC-Civilian Conservation Corps Young, unmarried men put to work Free board, medical care, $30/month

Economic Recovery AAA Agricultural Adjustment Administration TVA Gov’t subsidies to farmers who cut production of certain crops. TVA Tennessee Valley Authority Helped farmers and created jobs Provided cheap electric power to the Tennessee River Valley

Reforms to prevent another Depression Social Security Act, 1935 Financial Security with regular payments to those who cannot support themselves Old-Age pensions, benefits Unemployment Insurance Aid for the disabled FDIC-Federal Deposit Insurance Corporation

Fireside Chats FDR gave 30 radio speeches to the nation, which became known as fireside chats. FDR’s first fireside chat on the bank crisis. (March 12, 1933)

FDR’s first fireside chat reassured people that banks were safe to use again.

Fireside chat #15 On National Defense, May 26, 1940

QUESTION TIME!!!! What did Roosevelt mean when he offered Americans a “New Deal”? Why was the election of 1932 a significant turning point for American politics?