A New Deal Fights the Depression

I. Americans get a New Deal A. New Deal A. New Deal 1. Franklin Delano Roosevelt (FDR) proposed the New Deal. 1. Franklin Delano Roosevelt (FDR) proposed the New Deal. 2. “A New Deal for the American People.” 2. “A New Deal for the American People.” 3. Was designed to alleviate the problems of the Great Depression. 3. Was designed to alleviate the problems of the Great Depression.

B. New Deal’s goals B. New Deal’s goals 1. Relief for the needy. 1. Relief for the needy. 2. Economic recovery 2. Economic recovery 3. Financial reform. 3. Financial reform.

C. Hundred Days C. Hundred Days 1. Lasted from March 9- June 16, Lasted from March 9- June 16, Congress passed more than 15 pieces of New Deal legislation focused primarily on banks and finance. 2. Congress passed more than 15 pieces of New Deal legislation focused primarily on banks and finance. 3. As a result of the Emergency Banking Relief Act the Treasury Department backed many reopened banks and people began to return their savings to banks. 3. As a result of the Emergency Banking Relief Act the Treasury Department backed many reopened banks and people began to return their savings to banks.

Fireside Chats

D. Regulating Banking and Finance D. Regulating Banking and Finance 1. The Glass-Steagall Act established the Federal Deposit Insurance Corporation (FDIC) which provided federal insurance for individual bank accounts for up to $5, The Glass-Steagall Act established the Federal Deposit Insurance Corporation (FDIC) which provided federal insurance for individual bank accounts for up to $5, The Federal Securities Act required corporations to provide complete information on all stock offerings and made them liable for misinterpretations. 2. The Federal Securities Act required corporations to provide complete information on all stock offerings and made them liable for misinterpretations.

II. Helping the American People A. Helping Farmers A. Helping Farmers 1. The Agricultural Adjustment Act (AAA) paid farmers to underplow land and kill pigs so the limited supply of food would drive up prices. 1. The Agricultural Adjustment Act (AAA) paid farmers to underplow land and kill pigs so the limited supply of food would drive up prices.

2. The Tennessee Valley Authority (TVA) focused on the Tennessee River Valley by rebuilding five dams, constructing 20 new ones, creating thousands of jobs, provided flood control, electricity and other benefits for the poor people in the region. 2. The Tennessee Valley Authority (TVA) focused on the Tennessee River Valley by rebuilding five dams, constructing 20 new ones, creating thousands of jobs, provided flood control, electricity and other benefits for the poor people in the region.

3. The Civilian Conservation Corps (CCC) put young men ages to work building roads, developing parks, planting trees, and helping in soil erosion and flood-control projects. Almost 3 million men worked in CCC and planted over 200 million trees. Trees were designed to help stop the Dust Bowl. 3. The Civilian Conservation Corps (CCC) put young men ages to work building roads, developing parks, planting trees, and helping in soil erosion and flood-control projects. Almost 3 million men worked in CCC and planted over 200 million trees. Trees were designed to help stop the Dust Bowl.

4. The National Industrial Recovery Act (NIRA) provided money to states to create jobs chiefly in the construction of schools and other community buildings. The NIRA also established codes of fair practice (set prices of products, fair competition, working hours, and a ban on child labor.) 4. The National Industrial Recovery Act (NIRA) provided money to states to create jobs chiefly in the construction of schools and other community buildings. The NIRA also established codes of fair practice (set prices of products, fair competition, working hours, and a ban on child labor.)

5. Home Owners Loan Corporation (HOLC) provided government loans to homeowners who faced foreclosure. 5. Home Owners Loan Corporation (HOLC) provided government loans to homeowners who faced foreclosure. 6. The Federal Emergency Relief Administration (FERA) was funded with 500 million to help the needy. 6. The Federal Emergency Relief Administration (FERA) was funded with 500 million to help the needy.

III. The New Deal Comes Under Attack A. Deficit Spending A. Deficit Spending 1. The government was spending more money than it received in revenue, but would pump more money into the economy. 1. The government was spending more money than it received in revenue, but would pump more money into the economy. 2. The New Deal had not stopped the Great Depression. 2. The New Deal had not stopped the Great Depression. 3. It was argued that the New Deal did not go far enough to help the poor and that the government had too much control over agriculture and industry. 3. It was argued that the New Deal did not go far enough to help the poor and that the government had too much control over agriculture and industry.

John Maynard Keynes

B. Opponents to the New Deal B. Opponents to the New Deal 1. Father Charles Coughlin hosted a radio show in which he favored a guaranteed annual income and the nationalization of banks. 1. Father Charles Coughlin hosted a radio show in which he favored a guaranteed annual income and the nationalization of banks. 2. Dr. Francis Townsend believed Roosevelt wasn’t doing enough to help old people and he developed a pension plan. 2. Dr. Francis Townsend believed Roosevelt wasn’t doing enough to help old people and he developed a pension plan. 3. Sen. Huey Long proposed a Share-Our-Wealth policy. 3. Sen. Huey Long proposed a Share-Our-Wealth policy.

Father Charles Coughlin

Dr. Francis Townsend

Huey Long