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Understanding the New Deal: Key Policies and Legislative Actions (1933-1938)

This overview delves into the complexity of the New Deal initiatives between early 1933 and 1938, focusing on the significant shifts in American governance and economics. It analyzes the three phases: the First New Deal (1933-1935), the Second New Deal (mid-1935-1938), and their impacts on banking regulation, regional planning, and relief efforts. Key policies like the Emergency Banking Act, TVA, and various Relief programs exemplify the federal response to the Great Depression. The assessment concludes by reflecting on the political repercussions of these policies.

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Understanding the New Deal: Key Policies and Legislative Actions (1933-1938)

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  1. Confidence, Expectations, Direction

  2. The New Deal(s) • First: early 1933-mid-1935. • 1st Hundred Days • New Nationalism • Second: mid-1935-1938 • 2nd Hundred Days • New Freedom • Third?

  3. Making Sense of the First New Deal: Digesting the Alphabet Soup 1. REGULATION • Banking Legislation • Emergency Banking Act • Glass-SteagallAct (Banking Act of 1933) (FDIC) • Stock Market Legislation • Truth in Securities Act • Securities Exchange Commission Act (SEC)

  4. 2. REGIONAL PLANNING Tennessee Valley Authority (TVA) Pacific NW: Bonneville Dam (1933-37), Grand Coulee Dam (1935-42) SW: Boulder (1931-36)/Hoover Dam (1947) Rural Electrification Administration (REA)

  5. 3. RELIEF • Direct Relief • Credit Relief: Mortgage Relief: Reconstruction Finance Corp (RFC) • Work Relief: Harry Hopkins (WPA) Harold Ickes (Secretary of the Interior) (PWA) Federal Emergency Relief Administration, 1933-35 (Formerly Emergency Relief Administration, 1931-33) Evolves in 1935 into Works Progress Administration (WPA), 1935-43 (1939, renamed Works Projects Administration) Public Works Administration (PWA), 1933-39 Civilian Conservation Corps (CCC), 1933-42

  6. 4. RURAL POLICY (FARM AID) Agricultural Adjustment Administration (AAA) Domestic Allotment System 5. RECOVERY National Recovery Administration (Hugh Johnson) Codes of fair competition; minimum wages, maximum weekly hours Declared Unconstitutional by Supreme Court, 1935

  7. NRA: The First New Deal’s Failure

  8. Referendum on the First New Deal • 1934 Midterm Elections Dems gain 9 seats in Senate and 9 in House of Representatives (N.B.: 1932: Dems gained 13 seats in Senate and 90 in house) 1998: Dems gain 0 seats in Senate + 5 in House 2002: Repubs gain 2 seats in Senate + 4 in House

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