The New Deal Forging a New Deal 2 A. New Deal 1. FDRs program of relief, recovery, and reform B. Restoring the Nations Hope 1. The Only Thing We Have To Fear Is Fear Itself 2. Fireside chats C. The First Hundred Days 1. FDR pushed Congress to pass legislation to improve the economy by providing relief, creating jobs, and stimulating the economy. 3 D. Closing the Banks 1. Closed all banks for four days bank holiday 2. Emergency Banking Act authorizing the government to inspect the financial health of all banks 3. Americans regained confidence 4. Federal Deposit Insurance Corporation (FDIC) a. Secure money in banks b. $5, today $100, E. Providing Relief and Creating Jobs 1. Federal Emergency Relief Administration (FERA) a. FDR put money into public works programs b. Government funded programs to build public facilities c. Civil Works Administration (CWA) roads, parks, airports d. Civilian Conservation Corps (CCC) forests, beaches 5 F. A helping hand to Business 1. National Industrial Recovery Act (NIRA) a. Stabilize industrial prices b. National Recovery Administration (NRA) industry codes for regulating wages, working conditions, production, and prices c. Public Works Administration (PWA) - bridges d. Securities and Exchange Commission (SEC) regulates the stock market 6 7 8 G. Saving Homes and Farms 1. Home Owners Loan Corporation (HOLC) a. Refinanced, or reshaped the terms of mortgages 2. Agricultural Adjustment Administration (AAA) a. Subsides government financial assistance H. Tennessee Valley Authority (TVA) 1. Cheap electricity, flood control, and recreation 9 I. Eleanor Roosevelt 1. Had to travel due to FDRs disability 2. Reported on conditions in the country 10 A. New Deal Personnel 1. Brain Trust informed group who devised policies 2. Women held cabinet positions 3. African Americans held policy-making positions B. The New Deal Falters 1. FDRs programs were attacked by the Supreme Court 2. (NIRA) and (AAA) ruled unconstitutional 11 A. Second New Deal 1. Critics wanted legislation to help ordinary Americans 2. Social welfare, unions, taxes on rich B. New and Expanded Agencies 1. Works Progress Administration (WPA) a. Playgrounds, schools, and hospitals 2. Agricultural Adjustment Administration (AAA) a. Tenant/Sharecroppers b. Migrant workers 12 C. New Labor Legislation 1. Wagner Act setup National Labor Relations Board (NLRB) a. Unions, banned child labor, minimum wage D. Social Legislation 1. Social Security Administration (SSA) a. Old-age pensions and survivor benefits b. Unemployment insurance c. Aid for dependent children, the blind, and physically disabled E. Election of 1936 1. Electoral votes Roosevelt wins 2 nd Term 13 The New Deals Critics 14 A. Preference was given to men and boys B. Women disadvantage 1. Failed to protect domestic workers C. African Americans 1. Programs reinforced racial segregation 2. FDR refused to support anti-lynching laws because he did not want to offend powerful Southern Congressmen 15 A. New Deal Does Too Much 1. Republican criticized New Deal as being Socialists 2. American Liberty League limited individual freedom B. New Deal Does Not Enough 1. Socialists/Progressives claimed New Deal did not do enough to re-distribute wealth C. Demagogues 1. Deceptive leaders who manipulates people with half- truths 2. Father Charles E. Coughlin, priest and radio host 3. Huey Long Louisiana politician distribution of wealth 16 A. Court-Packing Scheme 1. Attracted greatest opposition 2. FDR was frustrated by a Supreme Court that had invalidated New Deal programs and progressive state laws 17 18 Last Days of the New Deal 19 A. Short-term economic improvement was the result of massive government spending. B. Recession of 1937 1. Reduced consumer spending 2. FDR cut back on expensive relief programs because he was worried about the rising national debt a. National debt total amount of money the federal government has borrowed and has yet paid back 20 A. Under the New Deal, labor unions were legalized and grew stronger. 1. Wagner Act increased membership legalized collective bargaining B. Era of Strikes 1. Sit-down strikes were so successful that the Supreme Court outlawed them 21 A. Literature 1. Pearl Bucks novel The Good Earth 2. John Steinbecks novel The Grapes of Wrath B. Radio and Movies 1. Escape the gloom of the Depression 2. Comedy and Soap Operas 3. Technicolor Wizard of Oz 4. Walt Disney Snow White and the Seven Dwarfs C. The WPA and the Arts 1. WPA funds supported unemployed artists 22 D. Lasting Achievements 1. A restored sense of hope 2. Buildings, dams, and bridges 3. SEC, TVA, FDIC, and Social Security 23