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THE NEW DEAL
US History & Government
The Election of 1932
1932
1940 1940
1936
FDR v Herbert Hoover
FDR v Wendell Wilkey
FDR v Alfred Landon
FDR v Thomas Dewey
The Inauguration
of
President Franklin D. Roosevelt (1933)
“….So first of all let me assert my firm belief that the only thing we have to fear. . .is fear itself. . . nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance….”
Two Economic Philosophies
FDR
Hoover
“Trickle Down” (Supply Side)
Govt. Tax Breaks to Business
New Investment in Factories
New Jobs
More wages in circulation
Demand Increases
Demand Increases
New Jobs
New Investment in Factories
More Money in Circulation
Relief Payment & Jobs
“Pump Priming” (Keynesian)
Restoring Hope
• FDR’s first actions
– Bank Holiday
• stop bank withdrawals
– Emergency Banking Act
• sound banks could reopen
– Fireside Chats
• restore public confidence
Restoring Hope
New Deal Programs can be broken down into the “3 Rs”
• Relief
– Programs that existed to provide immediate help to the poor and unemployed.
• Recovery
– Programs aimed at getting the country back on track
• Reform – Programs created to prevent another Great
Depression from happening in the future
New Challenges
• Critics of the New Deal
– Dr. Francis Townsend ($200/month pension)
– Fr. Coughlin (Dollar backed by silver)
– Huey Long (“Share Our Wealth”)
1932 1933 1934 1935 1936 1937 1938
FDR & The New Deal
First New Deal
FDR FDR FDR
elected inaugurated reelected
First New Deal
CCC
AAA
TVA
FDIC
NRA
SEC
Second New Deal
WPA
NLRB (Wagner Act)
SSA
FLSA
Second New Deal
New Challenges
• Supreme Court opposition to New Deal
– Schechter Poultry v. US (1935)
• NRA declared unconstitutional
– US v. Butler
• AAA Declared unconstitutional
• Court Packing Scheme (1937)
The New Deal & The Arts
• Works Progress
Administration (WPA) – Oral histories of former
slaves (link)
– Theater Project
• Novels – John Steinbeck: The
Grapes of Wrath
– Richard Wright: Native
Son
• Murals
New Deal Murals
