Chapter 16 Section 1

 What led to the Stock market crash of 1929?  Who was the president at the time?  Did he do anything to help American citizens during this economic crisis?  Who won the election of 1932?

 1932: created a group of advisors known as the Brain Trust Help with organizing and creating 15 recovery measures  Roosevelt was asking congress for a temporary change in the balance of executive and legislative power  1933 Congress approved all of the recovery measures  These Measures made up the core of the NEW DEAL PROGRAM

 March Bank Holiday: Roosevelt closed all banks for a few days to stop massive withdrawals  Congress passed the Emergency Banking Act Authorized the federal government to examine all banks  Financially sound banks could reopen  March 12, 1933 Americans tuned on their radios to listen to President Roosevelt deliver speeches to the American people  “Fireside Chats”: radio broadcasts from the White House

 Roosevelt urged Americans to put their money back into the open banks When banks reopened citizens began making deposits  Congress created the Federal Deposit Insurance Corporation in 1933 Insured bank deposits up to $5000  Home Owners Loan Corporation (HOLC)  Farm Credit Administration (FCA)

 Roosevelt created large-scale programs for direct relief of the needy Eleanor Roosevelt  Brought in many veteran reformers to direct programs Frances Perkins as the Secy. Of Labor  Federal Emergency Relief Administration (FERA) Half of the money went directly to families Other half went to the states and cities as grants States and cities would create and initiate the work-relief projects  Headed by Harry L. Hopkins

 Most Americans disliked direct relief They wanted jobs not handouts  Hopkins created the Civil Works Administration (CWA) to address this issue  Congress also created the Civilian Conservation Corps (CCC) 1933

 President Roosevelt pushed forth recovery programs  Roosevelt utilized the beliefs of John Maynard Keynes In order to fully recover from a depression the government had to spend money to encourage investment and consumption  Congress passed the National Industrial Recovery Act (NIRA) Created to stimulate industrial and business activity

 Roosevelt called for all farmers to cut production  Agricultural Adjustment Administration (AAA) Paid farmers to reduce output  Now with increased income farmers would be able to spend money  Tennessee Valley Authority Aid to rural areas Building dams, fighting diseases, providing electricity

 New Deal designed to help people of all races, but discrimination still existed  Fighting Discrimination Eleanor Roosevelt was very influential Robert C. Weaver- advising the Dept. of Interior Black Cabinet or Black Brain Trust John Collier – commissioner of American Indian affairs

 New Deal  Bank Holiday  Federal Deposit Insurance Corporation  Tennessee Valley Authority