Roosevelts New Deal Franklin D Roosevelt l Younger

Roosevelt’s New Deal

Franklin D. Roosevelt l Younger l Distant years cousin of Teddy Roosevelt l Wealthy family in NY l Married Teddy Roosevelt’s niece Eleanor l Elected NY state senator in 1910 l 1913 he was assistant secretary of Navy l 1920 ran for Vice President but lost l 1921 he was paralyzed by Polio

FDR’s Rise to Power l Although he had polio he did not give up on politics l As the nation’s economy crumbled into a Depression the Democrats looked to him to save the country l FDR who was the Governor of NY was chosen to run as the Democratic candidate in 1931

The campaign l FDR never publicly mentioned his paralysis l Asked l He journalists to not photograph his legs developed a Brain Trust to develop relief programs for the country l He declared that “the country needs…and demands bold persistent experimentation. ”

FDR in Charge l FDR won all but 6 states on election day l Democrats also won the Congress showing the US wanted change l Before worse Roosevelt took office the economy got l Banks l When closed, protests & violence broke out Roosevelt took office he said, “The only thing we have to fear is fear itself. ”

Restoring Confidence in Banks l FDR ordered all banks closed for 4 days l Introduced Emergency Banking Relief Act l Proposed presidential powers over banking l Made plans to reopen banks and organize them l By mid March most of America’s banks reopened l After his first week in office the banking crisis was over

The 100 Days l FDR sent Congress 15 proposals for programs to deal with the nations economic problems l Congress approved them all had been in a emergency session for 3 months and it was completely productive l Optimism spread through the capitol

The New Deal l The laws that Congress passed in the first 100 days became known as The New Deal l Affected Banking, stock market, industry, agriculture, public works, relief for poor, etc.

Jobs & Relief l FDR wanted to create jobs and put people back to work Civilian Conservation Corp (CCC) l Employed 3 million men to build parks, levees, plant trees, etc. l Federal Emergency Relief Administration (FERA) l l l Gave money to states to help people in need Agricultural Adjustment Act (AAA) To raise farm prices quickly l Control production of food to keep prices high l Ruled Unconstitutional by Supreme court in 1936 US vs. l Butler

Rebuilding l Tennessee l Aimed Valley Authority (TVA) to end flooding in the Tennessee River Valley l Bring electricity to the area l Many l Said people opposed the TVA the $ should be spent nation wide not just that area l When spring came the Dams proved successful and people stopped complaining

Helping Business & Labor l National Industrial Recovery Act (NIRA) l Aimed to help economy by helping business regulate itself l Urged business to set minimum wage & end child labor l Public Works Administration (PWA) l Goal was to stimulate economy through building public works projects l Roads, shipyards, hospitals, etc

Protecting People l Federal (FDIC) Deposit Insurance Corporation l Insured money deposited in banks l Assured people their money would not be lost if banks closed l Securities l Punished & Exchange Commission (SEC) dishonest stockbrokers & Speculators l Regulated the sale of stocks and bonds

Early Results of the New Deal l Did not cure the nation’s problems l Unemployment remained high l Farmers continued to have problems l Most struggled to make ends meet l People were happy w/ the Government’s response to crisis