New Deal

deficit spending

Government practice of spending more than it takes in from taxes

Security and Exchange Commission

In 1934 Congress took steps to protect the public against fraud, deception, and inside manipulation. It authorized this administrative agency to watch over banking and businesses. Stock markets henceforth were to operate more as trading marts and less as gambling casinos. Security Executive Commissions --- has the legal authority to set accounting standards.

Fireside Chats

President F. Roosevelt's use of radio broadcasts to connect him and the people in an intimate way. Through these, he explained the nature of the bank moratorium, farm relief, and his New Deal's alphabet agencies to solve problems of the Depression.

Federal Securities Act

a law, enacted in 1933, that required corporations to provide complete, accurate information on all stock offerings. Also lead to the creation of the Securities Exchange Commission in 1934.

Glass-Steagall Act

(Banking Act of 1933) - Established the Federal Deposit Insurance Corporation and included banking reforms, some designed to control speculation.

Food, Drug, and Cosmetic Act

1938 - A law that regulates the quality, purity, potency, effectiveness, safety, labeling, and packaging of food, drug, and cosmetic products. Required truth in labeling on products, as well as all the ingredients to be listed.

Civilian Conservation Corps

(CCC) March 31, 1933; reduced poverty/unemployment, helped young men and families; young men go to rural camps for 6 months to do construction work; $1/day; intended to help youth escape cities; concerned with soil erosion, state/national parks, telephone/power lines; 40 hr weeks

NIRA

1933 National Industrial Recovery Act. Recovery. Created NRA to enforce codes of fair competition, minimum wages, and to permit collective bargaining of workers., June 16, 1933, was part of President Franklin Delano Roosevelt's New Deal. It authorized the President to regulate businesses in the interests of promoting fair competition, supporting prices and wages, creating jobs for unemployed workers, and stimulating the United States economy to recover from the Great Depression.

Fair Labor Standards Act

1938 law that set a minimum wage, a maximum workweek of 44 hours, and outlawed child labor

Bank Holiday

All the banks were ordered to close until new laws could be passed. An emergency banking law was rushed through Congress. The Law set up new ways for the federal government to funnel money to troubled banks It also required the Treasury Department to inspect banks before they could re-open., The Emergency Banking Act (also known as the Emergency Banking Relief Act) was an act of the United States Congress spearheaded by President Franklin D. Roosevelt during the Great Depression. 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

Social Security Act

FDR was pro social security. This was part of the New Deal established after the Great Depression in 1929. The New Deal also includes the Wagner Act and the Housing Act. All 3 of these acts were put together as a social safety net for american citizens. The weakness of the New Deal is that it did justice mainly for whites and excluded minorities due to certain written rules in the acts. At the time the New Deal (soc security playing part) was a great idea for americans, however one of the biggest problems faced today for young people is the high possibility that social security will not be available at their time of retirement.

FERA

Federal Emergency Relief Administration (1933)- Relief, Recovery- Combined cash relief to needy families with work relief; superseded in early 1935 by the extensive work relief projects of the WPA and unemployment insurance established by Social Security.

Tennessee VAlley Authority

TVA - a relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land. It brought cheap electric power, low-cost housing, cheap nitrates, and the restoration of eroded soil., Created by Congress in May 1933; was authorized to build dams in the Tennessee Valley area and to generate and sell electricity from them to the public at reasonable rates; intended to be an agent for the comprehensive redevelopment of the entire region (help prevent flooding, develop local industries, reforestation and improve farmers' productivity); revitalized the Tennessee Valley in numerous ways (improved water transportation, elimination of flooding, electricity to those who previously had none), Reform: (TVA) May 1933; provide navigation flood control, electricity generation, fertilizer during Great Depression; used federal experts and electricity to fuel the economy; covered Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina, and Virginia; no citizenry or elected officials

Alphabet Soup Agencies

Term used to refer to the group of New Deal programs created to provide "Relief, Reform, and Recovery" for American citizens, banks, and businesses during the Great Depression., Relief -CCC, CWA,SSA, WPA; Recovery, TVA, PWA; Reform- SEC,FDIC

The 3 R's that make up the NEW DEAL

the 3 Rs of the new deal Roosevelt's administrations. RELIEF of the needy. Economic RECOVERY. Financial REFORM.

Franklin Delano Roosevelt

the 32nd president of the United States. He was president from 1933 until his death in 1945 during both the Great Depression and World War II. He is the only president to have been elected 4 times, a feat no longer permissible due to the 22nd Amendment to the Constitution., Roosevelt won his first of four presidential elections in 1932, while the United States was in the depths of the Great Depression. FDR's combination of optimism and economic activism is often credited with keeping the country's economic crisis from developing into a political crisis. Roosevelt named his approach to the economic situation the New Deal; it consisted of legislation pushed through Congress as well as executive orders. Executive orders included the bank holiday declared when he first came to office; legislation created new government agencies, such as the Works Progress Administration and the National Recovery Administration, with the intent of creating new jobs for the unemployed. Other legislation provided direct assistance to individuals, such as the Social Security Act.

Second New Deal

Jan 1935-Sept1935- Reorganized fed program for jobless relief. Assistance to rural poor,Supp for org labor, social welfare benefits for elder, stricker business reg, heavier taxes on wealthy., Some thought the first New Deal (legislation passed in 1933) did too much and created a big deficit, while others, mostly the elderly, thought it did not do enough. Most of the 1933 legislation was ineffective in stopping the Depression, which led F. D. R. to propose a second series of initiatives in 1935, referred to the Second New Deal., 1935-1937 a. "abolition of evil holding companies" and new programs to aid the poor. 1. underconsumptionism. b. government would fund welfare and public works, borrow money from private sources and then those sources would receive a return on their investment w/ income to spend on consumer goods, and manufacturers would profit and this would stimulate the circulation of money. c. Holding Company Act: break up 13 utility companies that controlled electric power. d. Wealth Tax Act: increased tax rates on the wealthy and corporations. e. Banking Act: gave more power to the Federal Reserve Board over banks. f. Rural Electrification Administration: electric power to rural housholds. g. $5 billion Emergency Relief Appropriation Act. h. National Youth Administration: work and guidance to youth. i. Reconstruction Finance Corporation: more government financed infrastructure projects. j. 1936-1937 academics, policymakers and bureaucrats designed New Deal Programs.

The 1st Hundred Days

March 9-June 16, 1933; Congress enacted more than a dozen Progressive-inspired measures expanding federal involvement in national economic life; ambitious beginning of relief and recovery programs; symbolized both dynamism and confusion of the New Deal, Roosevelt's large legislative session to help the economy (it was very effective). Created the Banking Act (opened the banks and convinced Americans that they were safe), the Home Owners Loan Corporation (refinanced home mortgage threatened by foreclosure), and the Glass-Steagall Act (separated investment banking from commercial banking). Also included was the Agricultural Adjustment Act, The National Recovery Administration, and Unemployment Legislation.

NLRA (Wagner Act)

National Labor Relations Act; passed after the NIRA was declared unconstitutional. It recognized the right of labor to organize and bargain collectively, and had the power to force unions and employers to engage in collective bargaining, - National Labor Relations Act of 1935- removed the barriers between employers and employees allowing them to bargain on wages, hours and working conditions. This opened the way for organizing unions some to join unions, strike for better conditions and pay

Herbert Hoover (1929-1933)

Party: Republican Major Events: Great Depression strikes; Promoted attitude of rugged individualism. Blamed for the Great Depression.

WPA

The Works Progress Administration (relief); in charge was Harry Hopkins; it had a budget of approximately $5 billion for emergency relief; Hopkins put the unemployed on the federal payroll so they could meet their basic needs; hired people to assist in construction and conservation projects, preserved the skills of artists/actors/writers; still, the program didn't provide enough money to help that stagnant economy

The New Deal

The programs and policies to promote economic recovery and social reform introduced during the 1930s by President Franklin D. Roosevelt, A promise made by Franklin D. Roosevelt to take prompt action and a program that would furnish relief measures for the unemployed, recovery measures to end the depression, and reform measures to prevent the recurrence of such a depression again. It is important in American History because it got us out of the hole we were in., The New Deal was the name that United States President Franklin D. Roosevelt gave to his complex package of economic programs 1933-36 with the goals of what historians call the 3 Rs. of giving Relief to the unemployed and badly hurt farmers. Reform of business and financial practices. and promoting Recovery of the economy during the Great Depression.

RELIEF

aid for the needy; welfare