1. Pages 722-726

2. Describe the background of FDR.

3.  Democrat  New York  1933-1945

4.  Aristocratic family values ◦ Strong sense of civic duty ◦ Competitive athletics ◦ Commitment to public service  Groton Groton  Harvard Harvard  Columbia Law Columbia Law  Believed government could make peoples lives better.

5. FDR the Man  1905: Married E. Roosevelt  1910: NY State Senate  1913-20: Asst. Sec of Navy  1920: losing VP candidate  1921: Stricken with polio…  1928: 2 term Governor of NY  1932: elected 32 nd President  The only 4 term President

8. Most active First Lady in history

9.  FDR’s “social conscience” & advisor  Supports minorities & the poor  Writes, speaks & travels  The “eyes & ears” of FDR

12.  a “new deal”…  “bold and persistent experimentation”…

14. FDR Hoover Electoral Vote: 472 59 ◦ Popular Vote: 23m 15.7m ◦ Percentage: 57.4% 39.7% The Democrats win both houses of Congress

15.  Professors, lawyers, and economists  Power of experts to fix the economy  Belief in government-business cooperation  “Economic reform must accept the modern reality of large corporate enterprise based on mass-production and distribution.”

21.  March 4, 1933 Inaugural Address ◦ “the only thing we have to fear is fear itself.” ◦ The next day, ordered a 4 day “bank holiday”  1300 banks fail in 1930  2000+ fail in 1931

22. Bank Runs – 20% of all banks close

25.  1930 = 1300 failures  1931 = 2000 failures  Pattern of dishonesty ◦ Stock manipulation ◦ Illegal loans ◦ Tax evasion  Emergency Banking Act restores confidence  1933 Glass-Steagall Act establishes FDIC and insures individual accounts

27. That "FDIC" logo you see as you walk in the door means that you hold insurance on your deposits. Depositors are typically protected for up to $100,000. Banks also carry private banking insurance -- specially designed private coverage to protect deposits in the case of burglaries, robberies, vandalism, etc.

28.  Requires corporations to provide complete info on all stock offerings  Liable for misrepresentations  SEC regulates the stock market and prevents “rigging” the system.

29.  Radio broadcast that explains to the American people his steps taken to meet the financial crisis. ◦ Enormously successful in exuding confidence ◦ Exemplified courage ◦ Communicated compassion  Emergency Banking Act ◦ Healthy banks reopen ◦ Federal management of failed banks ◦ Mid-March the crisis passes

31. Describe the government responses under the Roosevelt administration to the social & economic problems associated with the Depression.

32.  The 3 Rs… Relief… Recovery… Reform…

33. The Hundred Days

35. To do something in order to make something succeed, especially to spend money

36.  Get the economy going: - Lower taxes - Spend money - Deficit spending

37.  Emergency Banking Act  Civilian Conservation Corps  Fed. Emergency Relief Admin.  Agricultural Adjustment Act  Tennessee Valley Authority  National Industrial Recovery Act  Glass–Steagall Banking Act  Truth In Securities Act

39.  Unemployment relief ◦ Protecting and conserving natural resources ◦ Road construction, reforestation, flood control, national parks improvements ◦ R&B + $30.00 per month  $25.00 sent home  2.5 million youth  1500 camps

44.  The Federal Emergency Relief Act ◦ $500 million ◦ ½ to states for direct relief ◦ $3 from state = $1 from fed grants for relief

45. Agricultural Adjustment Act (AAA)…

46.  The Agricultural Adjustment Act ◦ Farm relief ◦ Fed. Planning and price setting  Parity pricing  Benchmark becomes prosperous years  Subsidies  Payments for reducing production ◦ Paid for by new taxes created on food processing

48.  Great for large landholders  Landlords don’t share the wealth with tenant farmers  Surplus crops, livestock, and milk being destroyed when so many are hungry

50.  The Tennessee Valley Authority ◦ Most controversial ◦ Denounced as socialism  Independent Public Corporation ◦ Built dams for flood control ◦ Cheap hydroelectric power for people in 6 states  Model for government planning improving the social and economic welfare of poor, under-developed region

53. Why is the TVA controversial?

54. $4.2B on large scale projects  Constructed schools, hospitals, post offices, roads & dams.  Creates jobs

55.  NIRA – FDR was given the power to manage the nation's business.  Goal: Recovery & create jobs  The NIRA includes:  NRA – National Recovery Admin.  PWA – Public Works Admin. - Sec. Int. Ickes

56.  The NRA regulate wages, working hours, prices and recognizes trade unions.  Declared unconstitutional in1935 Congress could not delegate its lawmaking power to the President.

59. 23) Harold Ickes Sec. of the Interior Leader: Public Works Amin. (PWA)