New Deal Roosevelt’s plan for getting out of the Depression

New DealRoosevelt’s plan for getting out of the

Depression.

The Three R’s

• Relief-implies short term attention

• Recovery-implies longer term “healing”

• Reform-implies reconstruction

Major Goal and Issues

• Recirculation of money in the economy

• Pump Priming

• Banks

• Farms

• Employment

• Stock Market

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Banks

• Declared a Bank Holiday

• Emergency Banking Relief Act 1933

• Glass-Stegall Banking Act

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Farms

• Agricultural Adjustment Administration (AAA)

• Farm Credit Administration (FCA)

Employment

• Civilian Conservation Corps (CCC)

• Federal Emergency Relief Administration (FERA)

• Home Owner’s Loan Corporation (HOLC)

Employment Continued…

• Civil Works Administration (CWA)

• Public Works Administration (PWA)

• Tennessee Valley Authority (TVA)

• Works Progress Administration (WPA)

Employment Continued…

• Social Security Act 1935

• National Industry Recovery Act 1933 (NIRA)

• National Recovery Administration (NRA)

• Wagner Act

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Stock Market

• Federal Securities Act 1933

• Securities and Exchange Commission

Other

• Reciprocal Trade Agreement

• Court Packing

Criticism

• Pampered Labor

• Stifled private enterprise

• Creeping socialism

• FDR was a one man “super-government”

• Bullied Congress and Courts

• Did NOT cure the Depression

• Add bureaucratic paperwork

Women

• Lower pay

• Males received preferences for jobs

• Long Hours

African Americans

• Not offered professional jobs or skilled jobs

• Lower pay

• Job Discrimination

New Deal Does TOO Much?

• TVA considered socialist

• Revenue Act

• Social Securty Act

New Deal Does NOT Do Enough?

• Believed entire economic system needed to be reformed

• Believed in Nationalization