1. A New Deal Fights the Depression Chapter 15, Section 1 Based on the textbook The Americans, 2006

2. 1932 Election ► Hoover (R) vs. FDR (D)  FDR wins ► Senate gains democrat majority ► House of Reps becomes ¾ democrat

3. New Deal ► Policies/program designed to alleviate the problems of the Great Depression ► 3 goals:  Relief for the needy  Economic recovery  Financial reform

4. The Hundred Days ► March 9 – June 16, 1933 ► Congress passed more than 15 major pieces of New Deal legislation ► Bank Holiday ordered on March 5 th (to prevent people from withdrawing their money)

5. Emergency Banking Relief Act ► Authorized the Treasury Department to inspect the country’s banks

6. Fireside Chats ► March 12 – first chat ► Radio talks about issues of public concern

7. Glass-Steagall Act ► 1933 ► Established the Federal Deposit Insurance Corporation (FDIC)  Provides federal insurance to individual banks

8. Federal Securities Act ► 1933 ► Required corporations to provide complete information on all stock offerings

9. Securities & Exchange Commission (SEC) ► 1934 ► Regulates the stock market ► Prevents people with inside information from “rigging” stock sales and purchases

10. Agricultural Adjustment Act (AAA) ► Sought to raise crop prices by lowering production ► Govt paid farmers to leave a portion of their fields fallow  $200 million to cotton farmers and paid hog farmers to kill 6 million pigs ► American’s upset because many were hungry

11. Tennessee Valley Authority (TVA) ► May 18, 1933 ► Renovated five existing dams and built 20 new ones ► Created thousands of jobs ► Provided flood control and hydroelectric power

12. Civilian Conservation Corps (CCC) ► Young men (18-25) worked building roads, developed parks, planted trees, helped control soil-erosion, and worked on flood control projects ► Employed 3 million men ► Pay= $30/month, uniform, room & board

13. Public Works Administration (PWA) ► June 1933 ► Part of the National Industrial Recovery Act (NIRA) ► Provided money to states to create jobs

14. Civil Works Administration (CWA) ► November 1933 ► Built 40,000 schools ► Paid 50,000 teacher salaries ► Built half a million miles of roads

15. NIRA ► Promoted industrial growth by establishing codes of fair practice for industries ► Congress guaranteed workers rights to unionize and bargain collectively

16. National Recovery Administration (NRA) ► Created by NIRA ► Set prices and established standards ► Promoted recovery by interrupting the trend of wage cuts, falling prices, and layoffs ► Goal: Industrial planing

17. The Home Owners Loan Corporation (HOLC) ► Government loans to homeowners facing foreclosure

18. National Housing Act ► 1934 ► Created the Federal Housing Administration (FHA)  Provide loans for mortgages and repairs

19. Federal Emergency Relief Administration (FERA) ► Provided $500 million of direct relief for the needy

20. New Deal Comes Under Attack ► Deficit spending (spending more money than the government receives) ► The Supreme Court strikes down the NIRA as unconstitutional in 1935  The law gave legislative powers to the executive branch  Enforcement of industry codes is left to the state

21. New Deal Comes Under Attack ► Supreme Court struck down the AAA in 1936  Agriculture is to be regulated by the state

22. “Court-Packing Bill” ► Would allow FDR to appoint six supreme court justices ► Ended up happening without the bill passing

23. American Liberty League ► 1934 ► Conservative opponents of the New Deal ► Opposed because believed it violated respect for the rights of individuals and property

24. Other New Deal Opponents ► Father Charles Coughlin ► Dr. Francis Townsend ► Senator Huey Long