The New Deal What was the New Deal

The New Deal

What was the New Deal? • The New Deal- A set of federal programs designed to alleviate the problems of the Great Depression.

The Main Goals of the New Deal • Relief for the needy • Direct relief • Economic recovery • Put people back to work • Financial reform • Regulate the financial sector

Reforming Finance and Business • FDR declared a bank holiday to prevent further withdrawals. • The Emergency Banking Relief Act was passed. • This authorized the Treasury Department to inspect the nation’s banks. • Banks that had money could reopen, those with no money had to stay closed. • Congress passed the Glass-Steagall banking Act of 1933. • This law established the FDIC. • Congress also passed the Federal Securities Act and the Securities and Exchange Commission (SEC) • These regulated and monitored the stock market.

Federal Work Programs • The Agricultural Adjustment Act (AAA) • Raised crop prices by lowering production. • Civilian Conservation Corps (CCC) • Put young people to work building roads, developing parks, planting trees, and helping in soil conservation. • Public Works Administration (PWA) • Federally funded construction projects. • The Tennessee Valley Authority (TVA) • Developed the Tennessee Valley by building dams and roads.

Federal Work Programs (Cont) • Works Progress Administration (WPA) • Put to work as many people as possible as quickly as possible. • Between 1935 and 1943, the WPA put more than 8 million people to work. • The WPA not only put people to work, but it also restored their dignity. • http: //www. pbs. org/tea chers/connect/resources /5141/preview/