Roosevelts New Deal

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Roosevelts New Deal
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First Hundred Days

• Called such because the Presidents First 100 days
  are usually his/her most productive
• FDR took off running from the very first day
• In his acceptance speech he told people the only
  thing they had to fear was fear itself

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• Immediately after taking office and taking the
  Oath of office he shut down all the Banks in
  America
• Called it a Bank Holiday
• They were to remain closed for one week while
  they were evaluated to see if they were secure
• Prevented people from continuing to put money in
  banks that were doing poorly
• At the end of the week only the solvent banks
  were allowed to reopen

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• It was passed on March 9, 1933. The act allowed a
  plan that would close down insolvent banks and
  reorganize and reopen those banks strong enough
  to survive.
• On March 5, 1933, the day after Roosevelt's
  inauguration, he called a special session of
  Congress which instituted a mandatory four-day
  bank holiday. This act provided for the reopening
  of banks after federal inspectors had declared
  them to be financially secure.

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• The bill also gave the Secretary of the Treasury
  the right to confiscate the gold of private
  citizens, in exchange for an equivalent amount of
  paper currency which was subject to later
  devaluation with relation to gold.
• Despite the importance of the bill, it was passed
  in immense haste by Congress. Few, if any,
  Congressmen had the chance to read the bill, most
  were only able to hear the clerk read it. Quite a
  few Congressmen vocally protested the haste in
  which the bill was considered, but nevertheless
  it was passed sight unseen.

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• Within 300 days of the act's passage, 5,000 banks
  had passed inspection and were reopened. Roughly
  two-thirds of U.S. banks quickly reopened under
  this act, and faith in banking institutions was
  somewhat restored.
• This act was a temporary solution to a major
  problem. The 1933 Banking Act passed later that
  year presented elements of a more permanent
  solution, including formation of the Federal
  Deposit Insurance Corporation (FDIC).

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What were the towns called that we made of shacks
around dumps and such?

• A Villes
• B FDR Villages
• C Hooverville's
• D Shacks

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• In his first Fireside Chat FDR explained the new
  banking relief Act
• These Fireside Chats were aimed at allowing the
  President to speak directly to the people
• They were designed so that Americans were aware
  of what the President was doing and why
• With radios as the primary means of
  communications people would sit around the radios
  and listen to what the President had to say

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Buying on Margin is the same as taking a loan out
on a car

• True
• False

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What is the Stock Market Crash also Known as?

• A Oct 1929
• B Black Tuesday
• C Black Rain
• D Stock Market Ending

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Relief and Recovery

• FDR created many new deal agencies for various
  reasons
• They were designed to put people back to work
• 13 million Americans were unemployed
• 25 of the nations work force
• One program was the Civilian Conservation Corps

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Civilian Conservation Corps

• This program was designed to take young men out
  of the workforce and put them to work in the
  heartland of America
• They were to be paid 3.00 per day and 2.00 per
  day of that was to be withheld and sent back home
  to their families
• They worked at planting trees, managing forest
  areas, creating drainage ditches and such

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• The CCC also built many structures within the
  National Forest system that are still in use
  today
• Ranger stations
• Fire outlook towers
• They also worked in cities as part of the park
  system

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Tennessee Valley Authority

• This program was meant to control the waters in
  the Tennessee River Valley
• Was to provide power to that area of the country
• Would build damns and hydroelectric plants
• Based at Muscle Shoals Alabama

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• There were a number of other programs
• Farm Relief Credit Act
• Refinanced loans to keep farmers from losing
  their land
• Agricultural Adjustment Act
• Paid farmers to grow less
• Federal Deposit Insurance Corp
• Guaranteed deposits in individual bank accounts
• National Industrial Recovery Act
• Established fair competition laws

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• Civil Works Administration
• Provided jobs for the unemployed
• Works Progress Administration
• Created jobs in construction, research, and the
  arts
• National Youth Administration
• Provided Part time jobs to students
• National Labor Relations Act
• Recognized unions rights to bargain collectively
• Social Security Act
• Provided government aid to the retired and
  employed

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Critics

• Not everyone in America was in Love with FDR and
  his programs
• Some felt that Roosevelt was gathering to much
  power and was usurping the Constitution
• American Liberty League was one of these
  organizations
• Many Business leaders felt these programs would
  lead to higher taxes

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• Huey Long a US Senator felt that the President
  needed to go even further
• He wanted the President to guarantee a living
  wage of 5,000.00 to every family in America

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• Proposed to get this wage that the President take
  money from wealthy Americans to give
  (redistribute) to the poor since it is this class
  that created this problem
• Felt that they made millions off the labor of the
  poor during the good times so only right that
  they give back what they have received

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• One other critic of Roosevelt was a Roman
  Catholic Priest Father Charles Coughlin
• Broadcast sermons over the radio
• Initially supported the President
• Eventually realized that all the programs helped
  businesses instead of the people
• Wanted the government to take over all the wealth
  of America and use that money to help out
  everyone
• Same rules would apply to natural resources

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Courts and New Deal

• FDRs program might have been a blessing to those
  who were receiving the benefits but his
  opponents' were dead against it
• Charges any place from stealing power to
  attempting to become a King were charged
• Several of his programs were declared
  unconstitutional by the Supreme Court

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• AAA was ruled unconstitutional
• In an attempt to control the Supreme Court FDR
  attempted to Pack to courts
• Wanted to appoint more judges to the court then
  there were at the time in a hopes that the ones
  he would appoint would vote his way.
• Would allow him to appoint a new justice for
  every judge over the age of 70
• This one bill would allow him to appoint 6 new
  judges as soon as the bill passed
• Congress refused to change the balance of power
  defined by the Constitution

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• The Congress refused to allow Roosevelt to change
  the constitutional balance of power
• After a much heated debate they saw the bill for
  what it was
• An executive that was bound and determined to get
  his way regardless of what it took.
• The Supreme Court did not overturn any more New
  deal Programs
• Before he died Roosevelt was able to nominate 9
  new justices