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FRANKLIN ROOSEVELT AND THE NEW DEAL
FRANKLIN ROOSEVELT AND THE NEW DEAL
PRESIDENT FRANKLIN ROOSEVELT
PRESIDENT FRANKLIN ROOSEVELT
• Franklin D. Roosevelt was elected 1932
• 1st democrat since Woodrow Wilson
• Before he became President: New York legislature, Assistance Secretary to the Navy, Governor of New York
• The best thing going for Roosevelt was he wasn’t Hoover
FIRST 100 DAYSFIRST 100 DAYS
• Roosevelt felt he had to deal with 3 r’s: Recovery, relief, and reform
• In the first 100 days of Roosevelt’s administration he passed 15 major laws
• Many of these laws dealt with these 3 r’s
BANK CRISISBANK CRISIS
• The first problem was the banking crisis
• Runs on banks depleted money supplies
• Banks were forced to close• People refused to deposit in
banks (they lost faith in banks)• Declared a bank holiday
March 5th-9th• The government rushed
money to banks to make them financially secure
• People again started to deposit funds
DIRECT VS. INDIRECT RELIEF
DIRECT VS. INDIRECT RELIEF
• One major difference between Rosy and Hoover was relief
• Hoover did not believe in direct relief (giving people money)
• Roosevelt encourage direct relief
• The Federal Emergency Relief Administration distributed over $500 million for direct relief
RELIEF TO RECOVERYRELIEF TO RECOVERY
• We don’t want people to just rely on dole
• Roosevelt needed to put people back to work
• The Civilian Conservation Corps. employed thousands of men 18-25 years old
• They would receive 30 dollars a month, 25 of which would be sent home
• They would go around the country creating and maintaining national parks, creating reserves, and building dams and other public works projects
MORE RECOVERY PROGRAMS
MORE RECOVERY PROGRAMS
• The Public Works Administration (PWA) had a budget of 3.3 billion dollars and worked on the infrastructure of the U.S.
• The National Recovery Administration (NRA) tried to help business leaders, unions, and workers get back to business
• They would fine businesses would did not follow the working code
• The Agricultural Adjustment Administration (AAA) paid farmers a subsidy to farmers who would stop producing so much
• The bought the excess supply also• The Tennessee Valley Authority but
dams and provided electricity to southeastern states
REFORM IN BANKS AND STOCK MARKET
REFORM IN BANKS AND STOCK MARKET
• Roosevelt also passed the Truth-in-Securities Act which prohibited fraud in the Stock Market
• The Glass-Steagall Banking Act prohibited banks from investing in the Stock Market
• The Federal Deposit Insurance Corporation which insured banks who belonged to this
ROOSEVELT COMFORTS THE NATION
ROOSEVELT COMFORTS THE NATION
• Roosevelt was very good at speaking to the public
• He held fireside chats frequently which were just informal talks with the public using the radio
• He would speak in simple terms that everyone could understand
• This endeared him to the public• He held weekly press
conferences with reporters and he would answer questions
• This was very different that most presidents before him
ELEANOR ROOSEVELTELEANOR ROOSEVELT
• His wife Eleanor was a great influence on him
• She really showed him the other side of life before he took public office (he really only knew about the wealthy life)
• She would travel across the nation because FDR could not and spoke for the programs that FDR had enacted
• Because Roosevelt had such a positive attitude and caring feel about him the American people became to love him
IMPACT OF ROOSEVELT RIGHT AWAY
IMPACT OF ROOSEVELT RIGHT AWAY
• Roosevelt’s established credibility in the government again
• He was very optimistic and energetic
• He made people believe that if we worked together we would be ok
• Right person at the right time