roosevelt’s inauguration president roosevelt
TRANSCRIPT
Roosevelt’s InaugurationRoosevelt’s Inauguration
President RooseveltPresident Roosevelt
1. Emergency Banking Act
1. Emergency Banking Act
• Started with federal bank holiday
• Government to inspect all banks
• Only solvent banks to reopen
• “Fireside chats”• Nation off gold
standard
2. Federal Deposit Insurance Corporation
(FDIC)
2. Federal Deposit Insurance Corporation
(FDIC)
3. Farm Credit Administration3. Farm Credit Administration
• Affordable loans to farmers
• Used for– Mortgages– Taxes– Equipment– Seed– Fertilizer
4. Home Owners Loan Corporation (HOLC)
4. Home Owners Loan Corporation (HOLC)
5. Federal Emergency Relief Administration
(FERA)
5. Federal Emergency Relief Administration
(FERA)• Gave money to state, local relief
organizations
6. Civil Works Administration (CWA)
6. Civil Works Administration (CWA)
• Create jobs• $750 million 1933-
34
Building highways
Repairing churches
7. Civilian Conservation Corps (CCC)
7. Civilian Conservation Corps (CCC)
Results of Relief Programs
Results of Relief Programs
• Banking was stabilized• Foreclosures dropped• Nearly 8 million families on public
assistance• Around 6.5 million hired by government
Spend when in
a depression
8. National Industrial Recovery Act (NIRA)8. National Industrial Recovery Act (NIRA)
9. Public WorksAdministration
(PWA)
9. Public WorksAdministration
(PWA)
10. NationalRecovery
Administration(NRA)
10. NationalRecovery
Administration(NRA)
10. National Recovery Administration (NRA)10. National Recovery Administration (NRA)
• Businesses to create “codes of conduct”
• Suspended antitrust laws
• Section 7(a): …
11. Agricultural Adjustment Agency (AAA)
11. Agricultural Adjustment Agency (AAA)
• Paid farmers to reduce output
• Subsidies paid by tax on food processors
12. Tennessee Valley Authority (TVA)
12. Tennessee Valley Authority (TVA)
• Greatest of 1st New Deal programs• Dams to control frequent flooding• Power stations to provide electricity
Effects of Recovery Programs
Effects of Recovery Programs
• $4 billion spent on public works• Rights of workers formally recognized• Increased crop prices• Many sharecroppers forced off land• 38 dams, many power stations built• Increased standard of living in Tenn.
Valley
Foreshadowing the Future…
Foreshadowing the Future…
LEFT RIGHTNEW
DEAL
American Liberty LeagueAmerican Liberty League
• New Deal threatened constitution and democracy!
• Socialism in the United States!
Father Charles CoughlinFather Charles Coughlin
• Father of hate radio
• Anti-Semitism• Nationalization of
banks
Huey LongHuey Long
• The “Kingfish”• Share the
wealth plan• Think Robin
Hood!• 100% tax on
incomes over $1 million
• Take all fortunes over $5 million
A New CourseA New Course
• 1934 midterm election => Democrats
• New lifeblood for reform• Radical shift to left from Hundred
Days
Second New DealSecond New Deal
• Enlarged federal relief programs• Assistance to rural poor• Support of organized labor• Social-welfare benefits• Stricter business regulations• Heavier taxes on rich
Enlarged Federal Relief Programs
Enlarged Federal Relief Programs
• 4/1935 - Emergency Relief Appropriations Act– $5 billion to spend
• Works Progress Administration (WPA)– Federal Writers’ Project
• State guides, ethnic histories• Transcribed legal documents from Salem, MA• Gathered slave narratives
– Federal Arts Project• Decorated public buildings
Assistance to Rural PoorAssistance to Rural Poor
• Resettlement Administration– Helped small farmers buy farms
• Rural Electrification Program– Low-interest loans to utilities– Enabled rural access to electricity
• 1936 - AAA unconstitutional• Soil Conservation and Domestic Allotment
Act– Cut soil-depleting crops, plant grasses
Farm Foreclosures and Defaults, 1929–1945
Farm Foreclosures and Defaults, 1929–1945
Social-Welfare BenefitsSocial-Welfare Benefits
• Social Security Act of 1935– Old-age pensions– Survivor benefits– Unemployment benefits– Aid for dependents, blind, crippled
Stricter Business Regulation
Stricter Business Regulation
• Banking Act of 1935– Strengthened Fed’s control of banking
• Public Utilities Holding Act– Regulated interstate transmission of
electricity– Restricted utilities to one region
Heavier Taxes on RichHeavier Taxes on Rich
• Revenue Act of 1935– Raised personal income taxes for
wealthy
9/1935 - Second New Deal complete
9/1935 - Second New Deal complete
FDR had stopped fears of leftist opposition
Election of 1936Election of 1936
• FDR claimed election about him• Republican - Alfred Landon• Called on fears of FDR as dictator• FDR lost Maine, Vermont
Election ResultsElection Results