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The New Deal Franklin D. Roosevelt The Three R’s Relief: To help people cope with the depression...
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Transcript of The New Deal Franklin D. Roosevelt The Three R’s Relief: To help people cope with the depression...
The New Deal
Franklin D. Roosevelt
The Three R’s•Relief: To help people cope with the depression
•Recovery: To help end the depression.
•Reform: To prevent future economic problems
The Stock Market Crash
•Buying “on Margin”
•Insider Trading
•Over-valuing of stock
SolutionFederal Securities Act
Reform
Problem
Securities and Exchange Commission set up to enforce new government regulations of stock market.
Solution“Bank Runs”
Federal Deposit Insurance Corp.
Emergency Banking Relief Act & Bank Holiday
Reform
Relief
Problem
Lack of Consumer Confidence in Banking System
Problems Solution“Hoovervilles”
People Can’t Afford Housing
Federal Housing AdministrationRelief/Recovery
Low demand for goods & services
Problem SolutionDust Bowl Farm Security Administration
Camp for Dust Bowl Refugees
ReliefDroughts in Mid-West cause
storms and ruin crops.
Problem SolutionAgricultural Adjustment Act
Farmers received subsidies in exchange for limiting production.
Overproduction
Overproduction of farm goods led to low prices. Some
farmers protested by dumping crops or burning them for fuel.
Recovery
ProblemsMassive Unemployment Extreme Poverty
•1/3 of population unemployed
•Families can’t pay rent
•Thousands migrate in search of better conditions
•Hunger & even starvation
Solutions: UnemploymentWorks Progress Administration (WPA)
Federal Theater Project
WPA Artist Sketches WPA Workers
Puts people to work on government projects.
Both manual and intellectual projects.
Federal Writers Project (Including Historians!)
Artists Paint Post Office Murals
Recovery
SolutionsCivilian Conservation Corps (CCC)
CCC Workers Build Fence in Greene, NY
Young people were given jobs doing conservation & recreation related projects. Local examples include some of the pavilions at Chenango Valley State Park.
Recovery
Problems Solution•Underdevelopment of South
•High Unemployment
Tennessee Valley Authority (TVA)
TVA builds damns to provide electricity to rural South.
Construction and operation also provides work for unemployed.
Recovery
Problem SolutionFactory Closings Cause
UnemploymentNational Industrial
Recovery Act
Required industries to create codes regulating wages, hours, working conditions, & prices. It was designed to promote recovery by ending wage & price deflation.
Recovery
Problem SolutionLabor Disputes
A Sit-down Strike
National Labor Relations Act (Wagner Act)
Guaranteed workers the right to bargain collectively and form
unions w/out fear of punishment from management.
Reform
Problems SolutionSocial Security Act
Men signing up for social security.
•Old Age Pensions
•Aid to Disabled
•Encouraged states to provide matching benefits.
Poverty among elderly & disabled.
Relief