Franklin Delano Roosevelt FDR and the New Deal

Franklin Delano Roosevelt (FDR) and the New Deal Why is FDR elected and what impact does he make on America, both short and long-term?

I. Franklin D. Roosevelt’s Appeal A. FDR = Democrat, gov’r of NY B. In 1932 presidential election, FDR was perceived as a man of action. C. Hoover was viewed as a “do-nothing president. ” D. Results: a landslide for Democrats and a mandate to use government as an agency for human welfare. E. In his inaugural address, he said “The only thing we have to fear is fear itself…. ”

II. Purposes of the New Deal (3 Rs)A. Relief: to provide jobs for the unemployed and to protect farmers from foreclosure B. Recovery: to get the economy back into high gear C. Reform: To regulate banks, to abolish child labor, and to conserve farm lands • Overall objective: to save capitalism

III. First 100 Days A. FDR uses the radio to reach out the nation in his “Fireside Chats” B. FDR Administration jumps to work with Congress C. 16 bills for major New Deal programs passed D. 1 st Action: Emergency Banking Relief Act 1. FDR declares a “Banking Holiday” 2. Closes ALL banks 3. Treasury Dept. will check to be sure the banks’ finances are “safe & sound” a. many banks dissolved b. some banks get loans to help stabilize econ. & build up trust in banking system

Year IV. Relief, Recovery & Reform of 1 st & 2 nd New Deal Program Goal 1933 Civilian Conservation Corps Jobs for single men on conservation projects 1933 Federal Deposit Insurance Corporation Protected bank accounts up to $5, 000 (today $250, 000) 1933 Tennessee Valley Authority Developed hydro-electric power in the TN Valley 1933 Agricultural Adjustment Administration Paid farmers to grow fewer crops (stabilize & raise crop prices) 1933 Home Owners Loan Corporation Loaned $ at low interest to homeowners 1934 Securities & Exchange Commission Supervised the stock market & eliminated dishonest practices 1935 Social Security Administration Provided a pension for retired workers, their spouses, and the disabled 1938 Fair Labor Standards Act Estab. min. wage, max. work week, safety laws passed for workers under age of 16

V. Criticisms of Conservative Opponents A. Conservative opponents said the New Deal went too far: 1. 2. 3. 4. 4. It was seen as socialism It added to the national debt ($35 billion) It “wasted” money on relief and encouraged idleness It violated the constitution & states rights It increased the power of the Executive Branch VI. Criticisms of Liberal Opponents A. Radical opponents said the New Deal did not go far enough 1. Senator Huey Long advocated a “share the wealth plan” (guaranteed annual income of at least $5, 000 for every American) 2. Dr. Francis E. Townsend had a plan for the federal government to pay $200 per month to unemployed people over 60