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ROOSEVELT AND THE NEW DEAL
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CAUSES OF THE GREAT DEPRESSION OVERPRODUCTION LOW WAGES HIGH TARIFFS UNEMPLOYMENT REDUCTION IN CONSUMER BUYING POWER
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EFFECTS OF HOOVER REFUSED TO INCREASE GOVERNMENT SPENDING FEARED DEFICIT SPENDING CREATED THE RECONSTRUCTION FINANCE CORPORATION OVERLY CAUTIOUS
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HOOVER AND RELIEF HOOVER OPPOSED THE FEDERAL GOVERNMENT’S PARTICIPATION IN HANDING OUT RELIEF http://coleman.glenrocknj.org/HeresL_WebQuest/mccannl_TheGreatDepressionQuest.htm
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Franklin Delano Roosevelt BORN 1882 NEW YORK EDUCATED AT HARVARD & COLUMBIA LAW SCHOOL MARRIED ELANOR ROOSEVELT 1905 CAUGHT POLIO IN 1920
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ASSISTANT SECRETARY OF THE NAVY, 1912 GOVERNOR OF NY, 1928 WON THE PRESIDENCY NOV. 1932 FIRST AND ONLY PRESIDENT TO BE ELECTED 4 TIMES
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“The country needs bold, persistent, experimentation…Above all, try something.” FDR Glass-Steagall Act Reform banking Restore hope for depositors Agricultural Adjustment Administration - Raised farm prices - Hurt tenant farmers (Especially African Americans) (Especially African Americans)
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Public Works Administration - Construction of airports, parks, schools, and roads. and roads. Works Progress Administration Administration - Offered work to artists, musicians, to artists, musicians, theater people, theater people, and writers. and writers.
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Tennessee Valley Authority - Built hydroelectric dams and plants to bring electricity to rural America bring electricity to rural America Securities and Exchange Commission - Regulate the stock market - Prevents fraud
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FAILURE NIRA was declared unconstitutional AAA farmers had little to no benefit CWA spent too much money and was shut down SUCCESS FDIC is still in effect today SEC is still in effect today ( Martha Stewart) TVA brought electricity to rural America, still at work today
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