The New Deal 19331935

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The New Deal1933-1935

• Unit 7.3

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Inaugural Address

• The only thing we have to fear is fear itself
• American Rhetoric Franklin Delano Roosevelt -
  First Inaugural Address

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• Wanted wartime emergency powers
• It is common sense to take a method and try it.
  If it fails, admit it frankly and try another

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http//xroads.virginia.edu/MA02/volpe/newdeal/too
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http//xroads.virginia.edu/MA02/volpe/newdeal/too
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100 Days
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F
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• March 9 to June 16
• Many laws to provide relief and recovery
• Expanded govt role

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Alphabet Soup
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Brain Trust
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• Professors who advised FDR in developing the New
  Deal

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Fireside Chats
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• March 12- to boost bank confidence
• Chats re concerns and New Deal
• First Fireside Chat ("The Banking Crisis")

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Financial Reform

• Bank Crisis
• Bank holiday-
• all closed
• Emergency Banking Act investigate all and only
  sound banks to reopen

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Financial reforms
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• Federal Deposit
• Insurance Corporation
• (FDIC) Glass-Steagall Act created bank deposit
  protection- 5000
• Securities Exchange Commission (SEC) regulate
  stock market and prevent stock manipulation

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Federal Emergency Relief Act (FERA)

• Provided for people without homes or food

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Agricultural Adjustment Act

• Excerpt from the Agricultural Adjustment Act
• It is declared to be the policy of CongressTo
  establish and maintain such balance between the
  production and consumption of agricultural
  commodities, and such marketing conditions
  therefor, as will reestablish prices to farmers
  at a level that will give agricultural
  commodities a purchasing power with respect to
  articles that farmers buy, equivalent to the
  purchasing power of agricultural commodities in
  the base period.

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AAA

• Paid farmers
• not to
• produce subsidies
• Declared unconstitutional

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Civilian Conservation Corps (CCC)

• Provide jobs for men 18-25
• Provide discipline, , and pride

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National Industrial Recovery Act National
Recovery Administration (NRA)

• Est. guidelines for fair wages and prices
• voluntary

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• Sign in store compliant
• Ruled unconsti-tutional

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Tennessee Valley Authority (TVA)

• Gov owned utility to provide low cost electricity
  to TV
• Built, provided jobs, and sold electricity at
  lower price than private companies

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all2003/tva_photography.jpg
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Criticisms of TVA

• Considered it socialism
• Spent too much on one region of the US

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http//xroads.virginia.edu/MA02/volpe/newdeal/too
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Financing the ND

• Deficit spending
• Spend more than take in
• Pump Priming
• put money into people's hands-- create demand
  production--and jobs

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Change in Govt

• Becomes safety net