Restoring the Nation’s Hope

 presidential elections took place in November, but the Inauguration didn’t take place until April  4 months delay-  Hoover a “lame duck”  Depression deepened  Prompted Congress to pass the Twentieth Amendment which changed the date of the inaugural to January 20.  Did not take place until the following election

 2 nd Bonus March on Washington  Whitehouse provided campsites for the veterans  Eleanor Roosevelt visited them demonstrating compassion and soothed popular fears about renewed radical agitation  Inaugural Address- “The only thing we have to fear is fear itself”  Fireside chats

 Referred to the relief, recovery, and reform programs of FDR’s administration that were aimed at combating the Great Depression

Stabilizing Financial Institutions

 “Bank holiday”- closed banks for 4 days to inspect financial health  2/3 reopened  Americans regained confidence in the banking system and began to put more money back into their accounts than they took out  Glass-Steagall Banking Act of created the Federal Deposit Insurance Corporation (FDIC) to insure bank deposits

 Federal Securities Act- required companies to provide information about their finances if they offered stock for sale  Securities and Exchange commission (SEC)- regulated the stock market  Decreased the value of U.S. currency by taking it off the gold standard  Hoped that this action would raise the prices of farm products and other goods  Hoped that a devalued American currency would stimulate export trade

Providing Relief and Creating Jobs

 Sent funds to local relief agencies  Put federal money into public works programs, government-funded projects to build public facilities  Civil Works Administration (CWA)- put unemployed to work building or improving roads, parks, airports, and other facilities

 Civilian conservation Corps (CCC)- put more than 2.5 million young, unmarried men to work maintaining forests, beaches, and parks  Paid $30/month, allowed to live in camps free of charge and received food, medical care, and job training  Indian Affairs used federal funds and native American workers to build schools, hospitals, and irrigation systems

Regulating the Economy

 National Recovery Administration (NRA)- balance the unstable economy through extensive planning  Industry-wide codes to spell out fair business practices  Regulated wages, restraining wage competition  Controlled working conditions, production, and prices, and set a minimum wage  Gave organized labor collective bargaining rights, which allowed workers to negotiate as a group with employers

 Public Works Administration (PWA)- launched projects ranging from the Grand Coulee Dam to NYC’s Triborough Bridge to the causeway that connects Key West to the Florida mainland

Assisting Homeowners and Farmers

 Home Owners’ Loan corporation (HOLC)- refinanced mortgages  National Housing Act of established the Federal Housing Administration (FHA)- government- 0wned corporation created to improve housing standards and conditions to insure mortgages and to stabilize the mortgage market

 Agricultural Adjustment Administration (AAA)- tried to raise farm prices through subsidies or government financial assistance  Paid farmers not to raise certain crops and livestock- lower production would cause prices to rise  Tennessee Valley Authority (TVA)- public works project that helped farmers and created jobs in one of the country’s least developed regions

 1 st President ever to appoint a woman to a Cabinet post  Frances Perkins became Secretary of Labor and successfully pressed for laws that would help both wage earners ad the unemployed  Hired African Americans in more than a hundred policymaking posts  Mary McLeod Bethune held the highest position of any African American woman in the New Deal- influential spokesperson for Af. Am. Concerns ▪ Advised FDR on programs that aided Af.Am. And in the process increased her level of influence

 Traveled widely for her husband, whose disability made traveling difficult  Reported back on conditions in the country and on the effects of his program  Sometimes took stands that embarrassed her FDR  Controversial- some Americans though a First Lady should act only as a gracious hostess  Many came to admire her for her political skills, her humanity, and her idealism

 Critics worried that New Deal agencies were giving increasing power to the federal government  Supreme Court attacked FDR’s programs  Declared the NIRA unconstitutional because it gave the Pres. Lawmaking powers and regulated local, rather than interstate, commerce  Struck down the tax that funded AAA subsidies

 Called the Second New Deal or the Second Hundred Days  Included more social welfare benefits, stricter controls over business, stronger support for unions, and higher taxes on the rich

 Works Progress Administration (WPA)- provided work for more than 8 million citizens  Built or improved tens of thousands of playgrounds, schools, hospitals, and airfields, and supported the creative work of many artists and writers  National Youth Administration provided jobs, education, recreation, and counseling for young men and women ages 16-25

 Resettlement Administration/Farm Security Administration (FSA)- loaned money to owners of small farms and helped resettle tenants and sharecroppers  Rural electrification  New Labor Legislation  Wagner Act- legalized such union practices as collective bargaining and closed shops, which are workplaces open only union members. Also outlawed spying on union activities and blacklisting

 Be able to list 6 new deal agencies and their purpose.