1. First New Deal

2. 1932
People vote Hoover out of office because people are suffering from lack of jobs, homes, food, hope
FDR
Former governor from NY
Left politics for a time because of Polio
20th Amendment
Moved inauguration day from March 4 to January 20

3. First 100 Days Passed 15 major pieces of legislation
Called the NEW DEAL
Goals
Relief for the Needy
Economic Recovery
Financial Reform

4. Business Assistance & Reform

5. Emergency Banking Relief Act
Immediate purpose
Long-term goal
Authorized treasury to inspect & close banks
Restore public confidence in the banks

6. First Fireside Chat: Banking
What:
Radio address from the president to the American People
Goal:
FDR explained what happened with the banking system, in words that everyone could understand
Result:
Helped restore confidence in the banks
Longterm impact:
FDR holds other successful fireside chats
Obama – weekly Youtube address

7. Glass-Steagall Banking Act of 1933
Immediate purpose
Long-term goal
Established the FDIC (Federal Deposit Insurance Corp) which insured bank accounts up to 5,000 (now 250,000)
Restore confidence in banks

8. Federal Securities Act
Immediate purpose
Long-term goal
Required corporations to provide complete info on stocks
SEC – Securities & Exchange Commission
Restore confidence in stock market
Investigate whether companies are providing accurate information

9. National Industrial Recovery Act (NIRA)
Immediate purpose
Long-term goal
Set prices; established labor standards
To ensure fair businesses practices, promote industrial growth

10. Farm Relief/Rural Development

11. Agricultural Adjustment Act (AAA)
Immediate purpose
Long-term goal
Paid farmers to lower production
To raise crop prices (and therefore farmers income

12. Tennessee Valley Authority (TVA)
Immediate purpose
Long-term goal
Built & repair dams and other projects in Tennessee Valley
Create prosperity in impoverished region of Tennessee Valley

13. Employment Projects

14. Civilian Conservation Corps (CCC)
Immediate purpose
Long-term goal
Put young men to work on road-building and conservation projects
Create jobs/Reduce unemployment

15. Federal Emergency Relief Administration (FERA)
Immediate purpose
Long-term goal
Provided Direct Relief for needy
Provide for basic needs of the people hit hardest by Depression

16. Public Works Administration (PWA)
Immediate purpose
Long-term goal
Provided money to states to create jobs
To reduce unemployment

17. Civil Works Administration (CWA)
Immediate purpose
Long-term goal
Provided 4 million immediate jobs
Create jobs/reduce unemployment

18. Housing

19. Home Owners Loan Corp (HOLC)
Immediate purpose
Long-term goal
Provided government loans to homeowners who faced foreclosure
Help families keep homes

20. Criticism of the New Deal
Deficit Spending –Spending more money than the government receives in revenue
21st Amendment –
Repeal of Prohibition
Goal to raise money for the government by taxing alcohol
Liberals – New Deal did not go far enough to help the poor
Conservatives – Roosevelt spent too much on direct relief & gov control of business

21. Republicans Opposed the New Deal Because…
Defied traditional American values
It was “detrimental to business & free enterprise”
What does this mean?

22. Businessmen/Wealthy Opposed the New Deal Because…
High taxes cut into their income & inheritance
Higher estate & gift taxes
“Union wages cut into profit margins”
Graduated corporate tax

23. Supporters of States Rights Opposed the New Deal Because…
Federal government was trying to regulate businesses within states
This is unconstitutional
NIRA, NRA, AAA

24. Supreme Court Opposed the New Deal Because…
Executive was trying to take power that belonged to states & the legislative branch
Found 11 of 16 laws passed within the first 100 days unconstitutional

25. Radicals Opposed the New Deal Because…
Didn’t go far enough
Huey Long
“Share the Wealth”
Limit peoples fortunes & income
Money would be sued to build schools, pay old-age pensions, & guarantee wages
Father Coughlin
Roosevelt didn’t do enough to take money from bankers & give it to the people
Francis Townsend
Wanted to start a plan to help elderly & stimulate the economy