The First New DealCh.18 Sec.2

The Hundred Days Begins

Hundred Days The first period of Roosevelt’s presidency Roosevelt had vowed to “Above all, try something ”

to fix the economy

First New Deal Name given to bills passed from 1933-1935 by

Roosevelt Passed 15 major acts to combat the Depression Were a collection of many different ideas to help

improve the situation of the U.S. Took advice from a broad range of advisors to

create his policies

The First New DealTennessee Valley Authority

Massive public works project to bring electricity to the rural South and control flooding there

Federal Emergency Relief Adminiration (FERA) Gave federal money to state & local govts to help

the unemployed

Federal Deposit Insurance Corporation (FDIC) Guaranteed bank deposits up to $100,000

Public Works Administration (PWA) Created jobs by building airports, parks, schools,

and roads

Fixing the BanksStock Market & Banks Under Roosevelt

Had govt officials inspect the nation’s banks to give them a seal of approval

Created the Securities & Exchange Commission (SEC) to regulate Stock Market activities

Glass-Steagall Act separated commercial & investment banking

Fireside Chats Direct talks by radio by FDR to restore American

confidence in govt and the economy

Providing Debt ReliefDebt Relief Under Roosevelt

Roosevelt felt people needed to eliminate their debt to invest in the economy

Wanted to help people have a disposable income again

Created the Home Owners Loan Corp (HOLC) , which reworked the mortgages of people unable to pay them

The Farm Credit Administration helped farmers refinance their mortgages

Providing ReliefRelief Programs Under Roosevelt

Civilian Conservation Corps (CCC) provided jobs to young single men for environmental projects

Civil Works Administration (CWA) hired any other unemployed people for public works projects