1. The 1932 Elections and the New Deal PEOPLE WANT CHANGE!

2. Who is this?

3. Background info: FDR Only child, wealthy parents, grew up in New York –Mom taught him that the privileged had an obligation to serve the public Graduated from Harvard, obtained law degree from Columbia Prior to election as President, FDR was governor of New York

4. 1932 Presidential Election Roosevelt easily defeated Hoover Started planning his New Deal –Created a group of advisers - “Brain Trust” New Deal had three goals –Relief to the poor –Recovery from Depression –Reform - restructuring of the economy to prevent future depressions

5. Immediately! FDR declares a bank holiday and closed all banks –Passed the Emergency Banking Relief Act Allowed Treasury Dept. to inspect country’s banks “Sound” banks could reopen at once, those that weren’t remained close –Gave the public confidence in banks

6. First 100 Days FDR persuades Congress to pass 15 major pieces of legislation Included: –Emergency Banking Relief Act –Several jobs programs to relieve unemployment –Help for agriculture and industry

7. Fireside Chats Informal radio talks = Americans feel like President is talking directly to them He explained banking system – if too many people demanded their money, banks would fail Over the next weeks, Americans returned their savings to banks

8. Regulating Banking and Finance Glass-Steagall Act (1933) –Created the Federal Deposit Insurance Corporation (FDIC) – up to $5,000 –Banks act cautiously with ppl’s $ Securities and Exchange Commission –Regulated the stock market –Goal: no “rigging” the stock market for own profit

9. On pages 491-492 Alphabet Soup For each, please tell me what the letters stand for, the purpose of the group and why it’s importance. AAA TVA CCC NIRA/NRA HOLC FERA