Chapter 18 The New Deal Section 1 A New Deal Fights the Depression

Where were we? What happened on October 29, 1929? What were the causes of the depression? What happened in the mid 1930’s that was caused by poor farming techniques and drought? How did President Hoover deal with the depression? At first? Then later? Describe the suffering that occurred.

What happened on October 29, 1929

What were the CAUSES of Great Depression??? 1. Farmers Debt 2. Stock Problems 3. Shaky Banking 4. High Tariffs RESTRIST International Trade

What happened in the mid 1930’s that was caused by poor farming techniques and drought?

Did Hoover Help? Eventually?

Hardships on Minorities African Americans “Last Hired, First .” African American women had better chances of getting jobs than men. Mexican Americans 400,000 illegally deported during the depression.

Franklin Delano Roosevelt 2-time governor of New York. Democrat Elected in 1932 Inaugurated in March of 1933 Distant cousin of Teddy Roosevelt

Eleanor Roosevelt Popular public speaker. Advocate for human rights.

The New Deal The 3 R’s Formed during Roosevelt’s idle time Relief, Recovery, & Reform Formed during Roosevelt’s idle time -Time from Election to Inaugaration

Questions (p 557 Fixing banks and stock market- 558) What was the 1st thing Roosevelt did as President? How did he use technology to communicate to the American people? How does the FDIC insure people’s money in banks?

The 1st 100 Days Passed more than pieces of “New Deal” legislation. 1st step – National Holiday for Emergency Banking Relief Act Only banks in good shape would reopen. Banks in bad shape would get loans from the government.

Reassuring the American People Fireside Chats Roosevelt’s brilliant use of radio to reach Americans and gain support. How will Obama communicate to Americans?

Legislation FDIC (Federal Deposit Insurance Corporation) Glass-Steagall Act (1933) FDIC (Federal Deposit Insurance Corporation) Protected Americans $

Legislation Federal Securities Act The goal of the Act was to restore trust in the . This required companies to give complete information on all their stock offerings. SEC (Securities & Exchange Commission) Regulates the stock market.

Warm Up: Matching AAA (Agricultural Adjustment Act) TVA (Tennessee Valley Authority) CCC (Civilian Conservation Corps) Still in effect today – gives jobs to build dams. Put millions to work – stopped because of WWII. Struck down by Supreme Court – Should be a state matter.

Warm Up: Matching AAA (Agricultural Adjustment Act) TVA (Tennessee Valley Authority) CCC (Civilian Conservation Corps) Still in effect today – gives jobs to build dams. Put millions to work – stopped because of WWII. Struck down by Supreme Court – Should be a state matter.

Legislation Help for farmers AAA (Agricultural Adjustment Act) Goal: Lower Production – paid farmers not to . Help for poor southerners TVA (Tennessee Valley Authority Goal: Provide jobs by building . Help for young unemployed males CCC (Civilian Conservation Corps) Goal: Provide millions with employment doing work projects.

Legislation Help for business & workers NIRA (National Industrial Recovery Act) Goal: Establish codes of fair competition. Created the NRA (National Recovery Administration) Help for home owners HOLC (Home Owner’s Loan Corporation) Goal: Give gov.’t loans to help people pay their mortgage. Help for the hurting FERA (Federal Emergency Relief Administration) Goal: Direct relief for the needy – clothes, food, & programs.

Key Term: Deficit Spending The government spends more money than they receive. Purposeful way to help the economy.

New Deal Critics The American Liberty League Believed the New Deal violated rights of individuals and property. Father Charles Coughlin (the socialist version of Rush Limbaugh) Huey Long (King Fish of Louisiana) Proposed “Share our Wealth” program The Supreme Court Cut down 2 New Deal Acts: AAA & NIRA