The First Hundred Days. Justyne Mar,nez

Transcription

1 The First Hundred Days Justyne Mar,nez

2 Impact of FDR s Personality And Policies Was a quick study Had an insa,able curiosity Talking was his preferred mode of learning Could talk at length about anything Boundless appe,te for knowledge Absorb a range of facts through conversa,on Could connect with people Possessed charisma to connect with large numbers of American people His stentorian voice made him one of the powerful orators of the twen,eth century Could project his voice Was self- confident His confidence allowed him to disagree with advisors when confron,ng major decisions FDR felt it was the federal government s duty to help the American people weather these bad,mes

3 Continued CommiKed to public service Secretary of the Navy Vice presiden,al candidate New York governor Presidency Developed a strong character Encouraged a na,on struggling against the Great Depression Also against the Axis powers in the Second World War Had a clear vision of the na,on and its role in the world Had the poli,cal skills to get his vision off the drawing board Had luck

4 The New Deal And Its Impact It created millions of jobs and sponsored public work projects that reached most every county in the na,on It failed to achieve its main goal: ending the Depression 1939, the unemployment rate was s,ll 19 percent and not un,l 1943 did it reach its pr- Depression levels The massive spending brought by the American entry to the Second World War ul,mately cured the na,on s economic woes

5 The Civil Corps (CCC) March 1933, one of the first New Deal programs The CCC was one of the New Deal s most successful programs It addressed the problem of unemployment by sending 3 million single men from age to the na,ons forests to work The Works Progress Administra,on, FDR s major work relief program Employed more than 8.5 million people to build bridges, roads, public buildings, parks and airports

6 Continued March 1933, one of the first New Deal programs A public works project intended to promote environmental conserva,on and to build good ci,zens through vigorous, disciplined outdoor labor CCC combined FDR s interests in conserva,on and universal service for youth believing that this civilian tree army would relieve the rural unemployment and keep youth off the city street corners Operated under the army s control September 1935 over 500,000 young men had lived in CCC camps from six months to a year

7 Continued Work focused on soil conserva,on and reforesta,on Men planted millions of trees on land made barren from fires, natural erosion, or lumbering Corpsmen also dug canals and ditches built over thousand wildlife shelters, stocked rivers and lakes with nealy a billion rish, restored historic baklefields, and cleared beaches and campgrounds In less than 10 years, the civilian conserva,on corpsbuilt more than 800 parks and platned nearly 3 billion trees na,onwide

8 Monetarism A school of economic thought that maintaining the money supply (total amount of money in an economy, in the form of coin, current, and bank deposits) is the chief determinant on the demand side of short- run economic ac,vity A set of views based on the the belief that infla,on depends on how much money the government prints

9 Continued 1965, economists Milton Friedman and Anna Schwartz challenged Keye s widely accepted theory for the cause of the Great Depression by wri,ng a book The Monetarist theory states that the Great Depression was caused mainly because of the fail in money supply They wrote in the book that in less than four years, the stock money in the banks fell by over a third called the Great Contrac,on - the falling of prices and wages due to not enough money to share around

10 Continued Monetarism is an emphasis on money s importance gained sway in the 1970s A school of economic, called monetarism, maintains that the money supply (the total amount in an economy) is the chief determinant of current dollar GDP in the short run the price level over longer periods Monetary policy, one of the tools governments have to affect the overall performance of the economy, uses instruments such as interest rates to adjust the amount of money in the economy Their target was the growth rate of the money supply Monetarism gained prominence in the 1970s Bringing down infla,on in the US and UK and greatly influenced the US central bank s decision to s,mulate the economy during the global recession of

11 The Gold Standard A monetary system where country s currency or paper money has a value directly linked to gold With the gold standard, countries agreed to convert money into a fixed amount of gold A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price T That fixed price is used to determine the value of the currency

12 Origin April 5, 1933, President D. Roosevelt signed Execu,ve Order 6102 which forbid the Hoarding of gold coin, gold bullion, and gold cer,ficates within the con,nental United States.

13 Purpose The purpose of the Execu,ve Order 6102 allowed ci,zens to store up to $100 in gold coins, or up to roughly 5 troy ounces. They were to be delivered to the Federal Reserve in exchange for $20.67 per troy ounce. If there were any failure to comply, punishment by $10,000 and/or up to five to ten years imprisonment.

14 Value The US government may profit for the price rise and may become stabilized.

15 Limitation In the midst of the Great Depression, ci,zens has a tendency to hoard their gold, stalling economic growth and exacerba,ng the depression. The Execu,ve Order did not state to the ci,zens the purpose of the confisca,on of the gold.

16 Gold Reserve Act January 30, 1934, the government was given the power to peg the value of the dollar to gold and adjust it as it pleased The dollar value was devalued the following day, from $20.67 to buy a troy ounce of gold to $35 Made the trade and possession of gold a criminal offense for the ci,zens of the US Sole,tle of this gold was given to the US Treasury

17 Continued The united states abandoned the system in 1971 The Gold Standard was replaced by fiat money, a term to describe currency that is used because of a government s order, or fiat, that the currency must be accepted as a means of payment The Gold Standard was a commitment by par,cipa,ng countries to fix the prices of their domes,c currencies and other forms of money (bank deposits and notes) were freely converted into gold at the fixed price

18 Tennessee Valley Authority (TVA) Agency created in 1933 The Tennessee valley con,nually dealt with floods, deforesta,on, and eroded land TVA aimed to help reduce these problems by teaching beker farming methods, replan,ng trees, and building dams Generated and sold surplus electricity, created jobs, and conserved water power Was a great success almost from the beginning and helped ease some of the economic hardship not only in the state of Tennessee but also in parts of Kentucky, Alabama, Georgia, North Carolina, and Virginia

19 National Industrial Act (NIRA) Created in 1933 An effort to help the na,on recover from the Great Depression An unusual experiment in US history, as it suspended an,trust laws and supported an alliance of industries Under NIRA, companies were required to write industry wide codes of fair compe,,on that effec,vely fixed wages and prices, established produc,on quotas, and placed restric,ons on the entry of other companies into the alliances The codes were a form of industry of self- regula,on and represented an akempt to regulate and plan the en,re economy to promote stable growth and prevent another depression

20 Continued Established by FDR to s,mulate business recovery through fair- prac,ce codes during the great depression An essen,al element in the Na,onal Industrial Recovery Act The NRA ended when it was invalidated by the supreme court in 1935, but many of its provisions were included in subsequent legisla,on

21 Schechter v US 1935, the supreme court declared uncons,tu,onal a central piece of the New Deal legisla,on Reviewed the convic,on of a poultry company for breaking the Live Poultry Code, the court held that the code violated the Cons,tu,on s separa,on of powers bc it was wriken by agents of the president with no genuine congressional direc,on Also that the code exceeded the powers of Congress bc the ac,vi,es it policed were beyond what Congress could cons,tu,onally regulate

22 Gabriel Over the White House A 1933 movie released on March 31 Judson Hammond, main character President during the Great Depression Was in a bad car accident and awakens as a changed man Ins,tutes sweeping, radical changes to the government The dissolu,on of Congress and the revoking of the the Cons,tu,on hkp:// gabrielwhitehousemar,allaw.mp4/view

23 Sources hkp://hauensteincenter.org/fdrleader/ hkp:// general- ar,cle/dustbowl- new- deal/ hkp:// general- ar,cle/dustbowl- new- deal/ hkp:// general- ar,cle/dustbowl- new- deal/ hkp:// landmark_schechter.html