ROOSEVELT AND THE NEW DEAL

CAUSES OF THE GREAT DEPRESSION  OVERPRODUCTION  LOW WAGES  HIGH TARIFFS  UNEMPLOYMENT  REDUCTION IN CONSUMER BUYING POWER

EFFECTS OF HOOVER  REFUSED TO INCREASE GOVERNMENT SPENDING  FEARED DEFICIT SPENDING  CREATED THE RECONSTRUCTION FINANCE CORPORATION  OVERLY CAUTIOUS

HOOVER AND RELIEF  HOOVER OPPOSED THE FEDERAL GOVERNMENT’S PARTICIPATION IN HANDING OUT RELIEF

Franklin Delano Roosevelt  BORN 1882 NEW YORK  EDUCATED AT HARVARD & COLUMBIA LAW SCHOOL  MARRIED ELANOR ROOSEVELT 1905  CAUGHT POLIO IN 1920

 ASSISTANT SECRETARY OF THE NAVY, 1912  GOVERNOR OF NY, 1928  WON THE PRESIDENCY NOV  FIRST AND ONLY PRESIDENT TO BE ELECTED 4 TIMES

“The country needs bold, persistent, experimentation…Above all, try something.” FDR  Glass-Steagall Act  Reform banking  Restore hope for depositors  Agricultural Adjustment Administration - Raised farm prices - Hurt tenant farmers (Especially African Americans) (Especially African Americans)

 Public Works Administration - Construction of airports, parks, schools, and roads. and roads.  Works Progress Administration Administration - Offered work to artists, musicians, to artists, musicians, theater people, theater people, and writers. and writers.

 Tennessee Valley Authority - Built hydroelectric dams and plants to bring electricity to rural America bring electricity to rural America  Securities and Exchange Commission - Regulate the stock market - Prevents fraud

FAILURE  NIRA was declared unconstitutional  AAA farmers had little to no benefit  CWA spent too much money and was shut down SUCCESS  FDIC is still in effect today  SEC is still in effect today ( Martha Stewart)  TVA brought electricity to rural America, still at work today