Ch. 22

Ch. 22The New Deal

9.7%, August 2009

ELECTION OF 1932

-FDR elected

-Democrat, reformist

FDR’S STRATEGY

-promised relief

-more public works programs

FDR AS A PERSON

-cheerful, optimistic,

-overcame his own

disability

-very effective orator

fireside chats

ELEANOR ROOSEVELT

-FDR’s cousin!!

-very helpful to FDR

-FDR valued her insight

-”My Day”

FIXING BANKS

-banking system

-”bank holiday”

-Emergency Banking Act

-first fireside chat

MORE BANKING REFORMS

-Glass-Steagall Act

-FDIC

-within 1 month, $1 billion in deposits reenter the banking system

THE HUNDRED DAYS

-Roosevelt’s first one hundred days in office

-passes 15 major pieces of legislation

-aimed at fixing the economy; New Deal

FDR’S NEW DEAL

FDR’s plan to provide:

1.) relief for people

2.) recovery of the economy

3.) reforms that would prevent economic crises in the future

NEW DEAL LEGISLATION

-CCC -Federal Securities Act

-AAA -SEC

-subsidy

-NIRA -TVA

-PWA -p.706-707

AFTER THE HUNDRED DAYS

-Civil Works Administration

EFFECTS/ RESISTANCE TO THE NEW DEAL

-most Americans happy with New Deal programs

-too much gov’t involvement?

-some say President too powerful

-too radical/not radical enough

-old people?? -Supreme Court Cases

SECOND NEW DEAL

-Election of 1936- FDR wins again

-Democrats hold ¾ of seats in Congress

-Congress passes laws extending government oversight of the banking industry; raises taxes on the wealthy

-WPA

SOCIAL SECURITY

-pensions for people 65 & older

-old people didn’t have to worry about hunger/$$

-unemployment insurance

-did exclude some workers

LABOR

-American Federation of Labor (AFL)

-Committee for Industrial Organization (CIO)

-GM sit-down strike

GM’S RESPONSE

-asks MI for help

-shuts off power/water

-police to block food supplies

-we give up!

FDR MESSES WITH THE JUDGES

-FDR mad that courts had

reversed some New Deal plans

-asks Congress to reorganize the courts

-give the President the power to expand/appoint justices

FDR HAS TO SPEND $$

-Economy still in trouble

-Fall 1937- another sharp drop in the Stock Market, jobs lost

-FDR has to break with his dream of cutting the deficit

-John Maynard Keynes-

-1938-economy a little better