Franklin

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Franklin Delano Roosevelt (FDR) and the New Deal
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Great Depression Problems

• Bank Failures
• Stock Market Crash
• Farm Failures
• High Unemployment
• Limited welfare system and lack of relief
  agencies
• Income inequality
• Drop in home ownership
• Minorities hit the hardest and received the
  least amount of aid

President Hoover is unable or unwilling to
provide relief for the Great Depression
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Who was FDR?

• Born in 1882 to a wealthy and prominent family
• Raised to believe that wealthy should look after
  the poor
• Believed governments primary role was to
  respond to social need
• Stricken with Polio in 1921 (at the age of 39
  years) public did not know
• President for 12 years during the two of the
  nations biggest crises -Great Depression and
  WWII
• Only President elected for 4 terms
• known to represent the common man
• ability to convey sympathetic concern for all

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Election of 1932

• Hoover was a Republican, FDR was a Democrat
• FDR Received 57 of popular vote and 472/531
  electoral votes
• Landslide
• Democrats also won both houses of Congress
• Why important?

• FDR ran against Hoover on a New Deal campaign
  a program that called on government to solve
  the problems of the Great Depression

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Blue States Voted for Hoover Red States Voted
for Roosevelt
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FDR Restored Confidence in the American Economy

• America had nothing to fear but fear itself
• Fireside Chats
• http//www.youtube.com/watch?vjt9f-MZX-58
• About 3 minutes

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New Deal

• The New Deal Programs would provide
• Relief short term plan to give money directly
  to the people to ease immediate suffering
• Recovery designed to stimulate production and
  restore the economy- in other words, get poor
  back on their feet
• Reform long term plan to insure that another
  depression would not occur

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New Deal continued

• 100 Days
• in FDRs first 100 days in office he pushed 15
  pieces of legislation through Congress to fight
  the Depression
• he focused on stabilizing financial
  institutions, providing relief, creating jobs,
  and regulating the economy
• in other words, government would tinker with
  economy to help end the depression
• Gov would not fully run the economy or own
  businesses
• EXAMPLE day after taking office he declared a
  bank holiday (banks were closed so no one could
  withdraw their money) government inspected
  banks to determine when they could re-open

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New Deal Programs? Alphabet Soup

• Agricultural Adjustment Act (AAA)
• Pay farmers to halt production food prices up
• Home Owners Refinancing Act
• Gov provides money for people who cant pay their
  mortgages.
• Keeps them from losing their homes
• Civilian Conservation Corps (CCC)
• Put young men to work on public projects
• Creating trails, cleaning up highways, paintings
  in public spaces
• Tennessee Valley Authority (TVA)
• Massive set of projects to modernize the
  Tennessee River Valley
• Dams created electricity, etc.
• Massive public works project

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(continued)

• National Recovery Administration (NRA)
• Group of government officials who helped
  businesses keep production low and prices high
• Eased off competition in some areas of businesses
  
• Also supported unions and collective bargaining
• Collective bargaining? _____________________
  _______________________________________

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2nd New Deal

• At the end of his first term, as part of his
  campaign for a second term, FDR launched another
  set of programs to continue the economic recovery
  
• Federal Deposit Insurance Corporation (FDIC)
• If a bank fails, the government will pay back
  deposits
• Securities and Exchange Commission (SEC)
• Monitors and regulates the stock market
• Social Security
• Workers pay taxes now that the gov uses to give
  pensions to retirees

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• ADD images from page 709