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The New Deal

The New Deal. Part One. Life During the Depression. Life During the Depression. Life During the Depression. Life During the Depression. Life During the Depression. A New Leader. By 1932, it was apparent that America needed a change Hoover is nominated as the Republican candidate

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The New Deal

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  1. The New Deal Part One

  2. Life During the Depression

  3. Life During the Depression

  4. Life During the Depression

  5. Life During the Depression

  6. Life During the Depression

  7. A New Leader • By 1932, it was apparent that America needed a change • Hoover is nominated as the Republican candidate • Knew he had little chance of winning • FDR is nominated at the Democratic candidate • Had been a governor of New York • Won by an large margin (7 million popular votes) • Democrats also gained large majorities in both houses of congress

  8. A New Leader • FDR doesn’t take office until March of 1933 • Spends his time assembling advisors • “Brain Trust” • They start created the groundwork for his term • Becomes known as the New Deal

  9. Issues with Banks FDR wanted to restore confidence in banks He declares a banking holiday to inspect Congress passes the Emergency Banking Relief Act Banks who needed loans were given them Confidence in banks rose

  10. Fireside Chats Radio talks to the people He used simple language Fairly informal First one explained the importance of banks and not withdrawing your money all at once Wanted to explain to the citizens the New Deal

  11. More Help For Banks • FDR and Congress knew that a strong banking system was key to a strong recovery • Congress passes the Glass-Steagall Act of 1933 • Established the FDIC • Federal Deposit Insurance Corporation • The stock market had been largely unregulated • Congress passes the Federal Securities Act in 1933 • Congress created the SEC in 1934 • Securities and Exchange Commission • Prevented insider trading • In 1933, Prohibition is repealed with the 21st Amendment • Why is this beneficial to the government?

  12. Alphabet Soup Farmers were the hardest hit group of all The AAA wanted to raise crop prices by lowering production (through subsidies) The government paid farmers over $200 million to plow 10 million acres of their harvest The TVA was created in May of 1933 It sought to create jobs (public works) in the Tennessee River Valley It’s primary task was building and fixing dams

  13. Farms During the Depression

  14. Farms During the Depression

  15. Alphabet Soup • Young people needed jobs too! • The CCC (Civilian Conservation Corps) gave jobs to men aged 18-25 • Built roads • Planted trees • They received $30 a month, free food, uniforms and a place to live • The PWA (Public Works Administration) sought to create schools and public buildings • The CWA (Civil Works Administration) built 40,000 schools and a half million miles of roads • Provided 4 million jobs almost instantly

  16. Alphabet Soup The NRA (National Recovery Administration) set prices and established standards for products The HOLC (Home Owners loan Corporation) provided loans to people who might lose their house The FHA (Federal Housing Administration) gave loans for homes and repairs (still around today) The FERA (Federal Emergency Relief Administration) gave $500 million for direct relief

  17. The New Deal is Attacked • People are starting to recover and gain confidence in their nation once again • The New Deal did not fully pull us out of the depression • Deficit spending is at the root of the problems • Liberals thought it didn’t go far enough • Conservatives though it went to far to socialize the economy • Criticized as direct opposition to a free market • The NIRA and AAA are struck down by the Supreme Court • FDR tried to stack the court in his favor • He eventually appoints seven new judges to the highest court in the land

  18. Court Packing

  19. Court Packing

  20. The American Liberty League • There are three main opponents of the New Deal • Charles Coughlin, Francis Townsend, Huey Long • They appealed to the poor • Wanted more direct support for the poor • Guaranteed income • Support for the elderly • Huey Long sought to be President himself • Assassinated in 1935

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