Roosevelt and His New Deal VII FDR and

Roosevelt and His New Deal

VII. FDR and the New Deal

A. Election of 1932: Hoover vs. FDR 1. FDR – Franklin Roosevelt (Democrat) from New York – Believed Government could play a role in fixing the economy 2. Hoover – President – Believed private forces would fix the economy and the government shouldn’t get involved

3. Election Outcome – FDR wins the presidency by 7 million popular votes – Won all but 6 states

B. First 100 Days 1. New Deal – FDR wanted to accomplish many things during his first 100 days to get the economy going again – The New Deal was the programs created by FDR’s administration to combat the Depression – 3 types of programs: • • • Relief – Temporary help for those who are suffering due to unemployment Recovery - To help the economy get over the previous depression Reform - To re-adjust or to fix the government to make sure that the depression doesn't happen again

2. Bank Holiday – March 5, 1933 – Orders all banks to close for at least 4 days – Inspectors would check out banks to reopen – Inspectors found that most banks were healthy

3. FDIC – Federal Deposit Insurance Corporation – Insured bank deposits – If a bank failed or closed you would get the money back that you deposited in it

4. SEC – Securities and Exchange Commission – Regulates the stock market 5. Off the Gold Standard – US currency is taken off the gold standard – Decreased the value of US currency – Hoped to raise the price of farm goods and other items – Hoped it would stimulate export trade

6. FERA – Federal Emergency Relief Act – Sent funds to local relief agencies – Put federal money into public works programs

• NRA – National Recovery Act Made businesses work together. • AAA – Agricultural Adjustment Act Paid farmers to grow less crops. • CCC – Civilian Conservation Corps – Took city kids and gave them jobs in national forests and parks. • TVA – Tennessee Valley Authority – Created electricity for the rural areas in Tenn. • PWA – Public Works Administration – Had people build for the public - sidewalks, etc.

The 2 nd New Deal New programs for the country. • Emergency Relief Act paid people for work. This was not a free handout of money. • WPA – Works Progress Administration found over 8 million people jobs. • Social Security – A pension for people 65 or older. • NLRB – National Labor Relations Board worked with businesses and unions.