Bringing Back the Economy

* New York State Senator * Assistant Secretary of the Navy * 1920 ran as the Vice Presidential Candidate * Caught Polio in 1921 * His wife, Eleanor and his aide, Louis Howe kept Roosevelt’s name in the political spotlight * New York Governor * Won the Presidency in 1932

* Gold Standard * One ounce of gold equaled a certain dollar amount * People took their money out of the banks and instead bought gold * Bank Holidays * Governors of states closed banks to stop bank runs. * Hundred Days * March 9-June 15 * Congress passed 15 major acts * These programs became part of the first New Deal

* Fireside chats * Direct talks from President Roosevelt on the radio * SEC * Securities and Exchange Act * Regulated the stock market and prevented fraud * FDIC * Federal Deposit Insurance Corporation * Insured deposits to a certain amount * Mortgage and Debt Relief * Home Owner’s Loan Corporation * The Government bought the loans * Lowered the interest rates * Extended the length of the loan * Farm Credit Administration * Money loaned to farmers * Keep all farms open * Led to less money to be lent to successful businesses.

* AAA * Agricultural Adjustment Administration * Farmers were asked to not raise certain livestock or crops * Helped larger farms that only harvested one crop * Raised the price of products * NRA * National Recovery Administration * Created rules for businesses * Minimum wage * Limiting number of shifts at factories * Favored larger businesses

* CCC * Civilian Conservation Corps * Men age worked by planting trees for the forest service * Earned $30/month to send home to their families * FERA * Federal Emergency Relief Administration * Gave money to states to help with relief programs * PWA * Public Works Administration * Gave contracts to construction companies * Built highways, sewer systems, schools, etc. * Helped workers find ways to get work * Broke down discrimination hiring practices * CWA * Civil Works Administration * Hired workers directly * Spent too much money

* Deficit Spending * Borrowing money to spend on new relief programs * American Liberty League * Opposed the new deal * Huey Long * Governor of Louisiana * Wanted an even distribution of wealth amongst people * Father Coughlin * Nationalization of the banks * Townsend Plan * $200/month to all people over 60 * People had to retire to get the money * This would free up jobs for the unemployed

* Works Program Administration * Spent $1 billion between * Worked on construction projects * Highways * Roads * Streets * Public buildings * Parks * Federal Number One * Controversial * Program for Artists, Musicians, Theater People, and Writers * Created symphony orchestras * Financed playwrights, actors, and directors

* Wagner Act * Workers have the right to form unions and collectively bargain * Binding Arbitration * Union members could bring issues to a nonbiased third party to hear both sides of an argument. * That group would make a decision regarding the disagreement. * Social Security * Provides security for older Americans and unemployed workers * Monthly retirement benefits for people age 65 or older * Helped provide assistance to unemployed workers from payroll taxes