New Deal and President Roosevelt
New Deal
(1933 - 1939) President Franklin D. Roosevelt 's programs (15 total) for helping the US economy during the Great Depression. Designed to provide economic relief and recovery. All 15 programs were approved by Congress during Roosevelt's first 100 days in office.
National Industrial Recovery Act (NIRA)
(1933) Federal law to stimulate industrial and business activity and reduce employment; raised wages, stabilized prices, limited work hours and provided jobs; suspended antitrust laws and eliminated unfair competition between employers. Created the Public Works Administration (PWA) and the National Recovery Administration (NRA). Declared unconstitutional in 1935.
The New Deal provided relief through the following:
1. A 'banking holiday' was established to prevent massive withdrawals of money. (March 6) 2. Emergency Banking Act passed on March 9; allowed government to examine all banks. Those that were financially sound reopened. 3. Pres. Roosevelt's first 'fireside chat' on March 12 intended to reassure citizens to trust the banks and to rebuild confidence in the system.... "I can assure you that it is safer to keep your money in the bank than under your mattress." 4. FDIC was created by Congress in June 1933. Helped increase our confidence in the banks. 5. April 1933 Roosevelt urged Congress to create the Home Owners Loan Corporation (HOLC) to help people who couldn't pay their mortgage. Provided low-interest, long term mortgages (loans). Saved homes of 1 million Americans. 6. Farm Credit Administration (FCA) was created in 1933 by executive order from the Pres. To provide low-interest, long term loans to farmers. Farmers could pay off their mortgages, back taxes, purchase what they needed to keep farming. 7. Farm Emergency Relief Admin. (FERA) created by Congress in May 1933. Headed by Harry Hopkins. Provided $500 million in relief $ to state and local agencies. Half of this ($250 million) went to states for direct distribution to families in need. For the other half ($250 million) the federal gov. Gave $1 for every $3 that state and local governments spent on relief; these were direct aid, not loans. The states and cities that got this $ used it to create work-relief projects like the Civilian Works Administration (CWA) and the Civilian Conservation Corps (CCC).
Huey Long
A colorful but corrupt US senator Louisiana
Harry L. Hopkins
A former relief supervisor from NY who headed FERA (Federal Emergency Relief Administration) in 1933. Created the Civilian Works Administration (CWA) and the Civilian Conservation Corps (CCC) to provide blue collar jobs for the unemployed.
John Maynard Keynes
A noted british economist who argued that in order to recover from the Depression that Government had to spend money to encourage investment and consumption.
Public Works Administration (PWA)
Created by through NIRA (National Industrial Recovery Admin.) in 1933. Spent $4 billion on 34,000 projects.
The New Deal provided relief through the following:
Creation of many agencies and federal, state and local programs designed to provide jobs,increase hourly pay, improve working conditions, regulate banks and the trading stocks and bonds, improve farming and agriculture and bring electricity to remote rural areas. All programs were designed to address the challenges of the Great Depression.
NRA (National Recovery Admin.)
Encouraged creation of codes of fair business competition. Many businesses didn't abide by the codes and consumers felt codes pushed prices up. Deemed unconstitutional along with NIRA in 1935.
Securities and Exchange Commissions (SEC)
Federal Agency that regulates companies that sell stocks and bonds; created to protect investors and guard agains stock fraud.
Agricultural Adjustment Administration (AAA)
Federal agency created by the agricultural adjustment act in 1933 to reduce farmer's output and increase crop prices
Social Security Act (SSA)
Law that provides retirement pensions unemployment insurance and payments to people with disabilities and to widows with children of male workers who have died
Civilian Conservation Corps (CCC)
New Deal Agency established in 1933; employed young men on conservation projects; during a decade (10 years) the CCC employed 250,000 young men who left their homes to plant trees, clear underbrush, create park trails and developed beaches and campgrounds. These young men performed "blue collar" labor.
Federal Deposit Insurance Cooperation (FDIC)
New Deal agency created in 1933 to insure bank savings deposits. In 1933 deposits were insured up to $5000; now they are insure up to $100,000
Federal Emergency Relief Act (FERA)
New Deal program created by Congress in May 1933. At one time 8 million families received aid, although most people disliked direct relief and preferred real jobs. So, FERA Director, Harry Hopkins, created the Civilian Works Administration (CWA) and the Civilian Conservation Corps (CCC) to provide blue collar jobs. FERA provided $500 million in relief $ to state and local agencies. Half of this ($250 million) went to states for direct distribution to families in need. For the other half ($250 million) the federal gov., which gave $1 for every $3 that state and local governments spent on relief; this was direct aid, not loans. The states and cities that got this $ used it to create work-relief projects like the Civilian Works Administration (CWA) and the Civilian Conservation Corps (CCC).
Works Progress Administration ( WPA)
New deal agency created in 1934 to put American men and women to work
National Youth Administration
New deal agency that provided part-time jobs to people between the ages of 16 and 25
Tennessee Valley Authority (TVA)
New deal program established in 1933 built dams and power stations to provide hydroelectric power and flood control to the TN river valley
Brain Trust
President Roosevelt's advisory group during his campaign for for the Presidency in 1932. This group helped advise him on plans for hid "New Deal" for the American people. (Pg 468)
Civilian Works Administration (CWA)
Provided jobs and pay rather than handouts of $, which most Americans preferred. Most CWA jobs were federal, state or local jobs such as raking leaves, picking up litter, and taking care of things that needed to be done. From 1933 - 1934 CWA paid more than $740 million in wages to 4 million people.
Share Our Wealth
Radical relief program proposed by senator Huey long in the 1930s sought to empower the govt to seize wealth from the rich through taxes and to provide a guaranteed minimum income and home to every American family
Frances Perkins
The secretary of labor in 1933 when 13 million people were unemployed. Pres. Roosevelt hired him to help implement New Deal programs to aid those in need.
