2. Chapter 23 Notes Section One New Deal Fights the Depression

3. I. Electing FDR A. Many Americans blamed republican Hoover for Depression B. Franklin Delano Roosevelt 1. FDR 2. Two term NY Governor 3. Cousin of Teddy Roosevelt 4. Can do attitude vs. do nothing president 5. FDR wins

4. II. Waiting for Roosevelt A. Elected in Nov. inaugurated in March B. In meantime FDR & advisors began to plan NEW DEAL

5. C. New Deal 1. Goals - relief for needy - economic recovery - financial reform

6. D. Upon taking office- Hundred days 1. 15 pieces of legislation

7. III. Reforming banking and finance A. Right after inauguration closed banks, reviewed status, permitted loans, increased consumer confidence B. Fireside chats- used to quiet fears and build support

8. C. Glass- Steagall Banking Act of 1933 1. Established the Federal Deposit Insurance Corporation - FDIC provided federal insurance for accounts less than $5,000

9. D. Securities and Exchange Commission 1. June 1934 2. Regulate stock market

10. E. 21st Amendment 1. End of 1933 2. Repealed prohibition 3. Alcohol tax

11. IV. Helping the American Republic A. Farmers 1. Agricultural Adjustment Act - raise prices by lowering production - controversial due to wasted food

12. B. Work projects 1. Civilian Conservation Corps - put young men 18-25 to work on public works - trees 2. Federal Emergency Relief Administration - 500 million in relief for the needy 3. Public Works Administration & Civil Works Administration - provided jobs- mainly construction and education - termed by some as useless work 4. National recovery Act - Created National Recovery Administration

14. 5. Tennessee Valley Authority - Renovated or built 25 dams - provided jobs, flood control and hydroelectric power

15. C. Home Owners Loan Corporation 1. Became federal Housing Administration

16. IV. New Deal Under Attack

17. A. Critics 1. Liberals- not enough 2. Conservatives- too much- interfered with free market

18. B. Supreme Court reacts 1. Found NIRA and AAA unconstitutional 2. FDR tried to appoint six additional justices - major protest, hurt image - due to resignations, reformed court anyway

19. C. Huey Long 1. Governor and later Senator 2. Opposed New Deal 3. Share our Wealth programs 4. Was assassinated

20. Now, that we got that fixed. What’s this I hear about some guy named Hitler?