President Hoover By the last year of his Presidency, Hoover becomes widely unpopular. Insisted state and local government should handle relief. Responsible for the Hawley-Smoot tariff, highest import tax in US History. His refusal to direct Federal Aid caused more public anger among Americans
Low point in Hoover's Presidency Veterans March on Washington DC. In 1932, 20,000 jobless WW1 veterans and their families camped in Washington DC. Veterans wanted immediate payment of a bonus that was promised for 1945. Most of the protest were peaceful but some turned violent. Hoover took responsibility and it greatly impacted his ability to be re-elected to the Presidency.
The Election of 1932 I pledge myself to a new deal for the American people, -Franklin Roosevelt (FDR) FDR was ready to experiment with the federal government's role in the depression. Roosevelt had a genuine compassion for the ordinary people, in part of his disability. He wanted to fix the great gap between the nation's wealthiest and poorest Americans.
Election of 1932 -Hoover resisted the idea of giving national government more power. -Roosevelt called for more national government to control and regulate business. -Roosevelt won by a huge margin, -7 million popular votes -Roosevelt wins 472 electors to Hoover s 59 -Much of FDR s support came from new groups. Urban workers, coal miners, and immigrants of Catholics and Jewish descent So first al all let me assert my firm belief that the only thing we have to fear is fear itself. -President Franklin Delano Roosevelt, First Inaugural
FDR s First 100 Days in office -FDR s New Deal came to refer to the Relief, Recovery & Reform programs aimed at combating the Great Depression. -Roosevelt push program after program through congress to provide relief, create jobs and stimulate economic recovery. -First step was to restore public confidence in the banking system. American Banking Act 1933, authorized the government to inspect the financial health of all banks Americans began to put more money back into banks. These deposits allowed banks to make loans that would help the economy. Glass-Steagall Banking Act of 1933 (Federal Deposit Insurance)-Insures bank deposits
FDR s First 100 Days in office Roosevelt s next step was to help local relief agencies. Through the Federal Emergency Relief Administration (FERA) -To help people out of work, FERA put federal money into Public Works Programs. Government funded projects, to build public facilities. The unemployed went to work building roads, parks and airports. Employed 4 million workers -The Civilian Conservation Corps (CCC) became Roosevelt's favorite program. The program put more than 2.5 million young, unmarried men to work. Maintaining forests, beaches and parks These men lived in camps free of charge, received food, medical care and job training. Investment in the future of young Americans.
Assisting Homeowners and Farmers -Federal Housing Act of 1934 (FHA) was established to improve housing conditions, to insure mortgages, and to stabilize the mortgage market. -The Agricultural Adjustment Administration (AAA) 1933 The AAA used proceeds from a new tax to pay farmers to not raise certain crops and livestock. Lower production was meant to help raise prices Many Americans could not understand how the destruction of food, when so many Americans were hungry.
Second New Deal (Second 100 Days) -The New Deal did not have the impact that supporters of FDR claimed that it would have. The New Deal failed to bring about significant improvements Second New Deal-Aimed at helping ordinary Americans Included more social welfare benefits, stricter control over business, stronger support for unions, and higher taxes on the wealthy
Second New Deal Continued -Part of the Second New Deal. Provided financial security in the form of payment to Americans who could not support themselves. Old age pension, age 65 Unemployment insurance Aid for the disabled and blind -Works Progress Administration (WPA) Provided work for 8 million Americans Improved schools, playgrounds, hospitals and airfieds