Chapter 10 Section 1 The First New Deal" Pages: "

Transcription

1 Chapter 10 Section 1 The First New Deal" Pages: "

2 Big Ideas" n America wants and needs change" n FDR- Practical and willing to try anything to help American People" n 100 days- a fury of alphabet soup" n The 3 Rs:" n Relief! n Recovery! n Reform!

3 The Election of 1932 n Candidates n Republican Herbert Hoover (incumbent) n Democrat Franklin Delano Roosevelt (FDR) Rich Snobby New York Family 4 th Cousin to TR Wife=Eleanor (Roosevelt/Roosevelt)!!!! (Affair) Assistant Sec of Navy under Wilson Loses as Vice President in then life changes Victim of Polio (nervous system disease) in 1921 and paralyzed Elected Gov of NY in 1928 Wins Electoral College"

4 The Election of 1932 Opposites Herbert Hoover v Indirect Relief only" Franklin Roosevelt v Direct Relief" v Small Government= Laissez Faire" v Large Government Involvement and Spending" v Do what had always been done. Inside the Box! v Think Outside the Box and not afraid to fail = Trying Mattered!" "

5 FDR"

6 Young FDR and Eleanor"

7 The New Deal Nominating speech: A new deal for the American people! actually shows up at Chicago Convention to give speech. n Lame Duck (Nov 1932-March 1933) n Bank runs= $$ issues and PANIC n Inauguration in March 1933 Hoover and FDR- Not so friendly n Nothing to Fear but Fear Itself speech One of most famous inaugurals of all time America on pins and needles.what will he say?"

8 Nothing to Fear but Fear."

9 FDR and Hoover at FDR s inaugural Hoover resented FDR and seethed the entire quiet trip from the White House to the Capital

10 The 100 Days and the New Deal n First 100 Days of Presidency- 15 major acts sent to Congress n Fireside Chats- Radio broadcast (60 million listen) n Action over Inaction- Practical Politician n Brain Trust - Advisors from all sides n Believe in Government Intervention and less free business n President as Quarterback: " Call the play OR Call an Audible

11 chats" Reassure INFORM Package the Info In an easy way to understand President Roosevelt began the fireside chats on a weekly basis as a way to reassure the American people. His comforting voice, calming words, confidence in the country and the American people helped restore faith of the American people in democracy.

12 Fireside Chats"

13 Part of FDR s New Deal Agencies created by the US Govt. to bring about the 3 R s Relief, Recovery, and Reform.

14 The 3 R s:" n Relief:! n Providing direct and immediate aid or help to the situation. Giving food, money. In the present moment= NOW! "

15 Recovery "" n Recovery:! n Rebuilding the economy. Getting employment and financial matters back to normal status.!

16 Reform "" n Reform:! n Changing the way that Government and economic institutions work so that a depression can t happen again.!

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19 Finance Problems and Solutions n Finance Problems: n Credit Crunch n Bank Runs n Bank Failures n Stock Market Failure n Solutions?" n Develop Trust in Banks" n Reform Stock Market" n Insure Deposits"

20 Finance Programs" n Banks (REFORM): n Emergency Banking Relief Act= Creates a week long bank holiday! Gov oversight of banks; reopen w/ stability GLASS STEAGALL ACT- Banks No more double dipping. n Federal Deposit Insurance Corporation (FDIC) Gov insurance for bank deposits ($2500)! n Securities and Exchange Commission (SEC) Companies selling stock provide info to investors, no insider trading

21 Agriculture n Problems- n Overproduction and Low Prices n Solutionsn How to fix? Less Production! Reduce supply, price goes up.. n Farms (RELIEF): " n Agricultural Adjustment Administration (AAA) Pays farmers not to grow certain crops or livestock (1 billion) Effective- by 1936 prices and farm income raise 50%

22 Industry: n Problem: n Unemployment. n Lack of $$ in economy Solutions: n FDR- Not just given/should earn it. n Put people to work: Public Works n Government employs/pays people if private industry can t

23 More Public Works: n First big Program: n Civilian Conservation Corps (CCC) Young men chance to work outdoor projects, $30/month

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25 CCC"

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27 More Public Works: n Public Works and Relief n PWA- Public Works Administration 1/3 of unemployed=construction Highways/dams/sew systems/schools/water works Grand Coulee/Bonneville Dams Central Valley Project (CVP)- Shasta Dam Tennessee Valley Authority (TVA)- (Pg 508)

28 Grand Coulee"

29 Shasta Dam- 1938"

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34 More Public Works: n Public Works and Relief n Civil Works Administration (CWA) n 4 million employed and 1 billion spent in 5 months. Shut down (dependency)

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36 Homeowner and Farm Debt "" n Problem:" n Foreclosures caused no spending! n Solutions: " n Gov takes over loan programs! n Government takes over and helps Debt (RELIEF): n HOLC- Gov refinanced home loans n Farm Credit Administration (FCA)- same for farmers Lowers debt and increases spending