USH. History Ch. 10.
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Transcript of USH. History Ch. 10.
Roosevelt and the New Deal.
Roosevelt takes office-1932.
The people are desperate for positive change.
They want action by the government.
Roosevelt’s New Deal will them what they want!
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“…the only thing we have to fear is fear itself….”
• By the time Roosevelt was inaugurated this was going on:
• Fear that gold standard to be abandoned.• Huge bank runs.• 4,000 bank failures.• 25 percent unemployment.• Many states declare Bank Holiday’s.
First Hundred Days-Regulations and “Priming the
pump.”• Emergency Banking Relief Act-National Bank
Holiday.• Glass-Steagall Act.• Federal Deposit Insurance Corp.(FDIC.)• Agricultural Adjustment Act.(AAA.)• National Recovery Administration. (NRA.)• Home Owners’ Loan Corp. (HOLC.)
Alphabet Soup Programs Continued….
• Farm Credit Administration (FCA.)
• Civilian Conservation Corp. (CCC.)
• Public Works Projects. (PWA.)
• Works Project Administration. (WPA.)
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W.P.A. at Work.
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Critics of the New Deal.
• Criticism from the Left and Right wings.
• Conservatives(Right Wing.) felt that Roosevelt’s deficit spending would permanently ruin the country.
• Huey Long and Father Coughin(Left Wing.) called for more government action.
Huey Long.
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Launching the Second New Deal.
• Supreme Court struck down NRA!
• Court packing plan?
• National Labor Relations Act. (NLRB.)
• Wagner Act-Magna Carta of Labor.
• Social Security Act.
Roosevelt’s Recession. 1937.
• Roosevelt cut back on government spending.
• This pushed U.S.back into economic trouble.
• Roosevelt again had to deficit spend.
• John Maynard Keynes.
Last of the New Deal Reforms
• National Housing Act. Helped poor people get housing.
• Farm Security Administration. Gave loans to tenant farmers to buy land.
• Fair Labor Standards Act. 40 hour work week and abolished child labor.
Federal Governments New Role.
• Broker State: Mediating conflicts between special interest groups.
• There is now a “Safety net” to protect Americans from bad times.