* Write at least three sentences for each
* Define each term
*Explain how it provided relief for unemployment or
promoted recovery in business and agriculture.
* Page 701
1.) Bank Holiday (Emergency Banking Act)
2.) F. D. I .C.
3.) Civilian Conservation Corps
4.) National Industrial Recovery Act
5.) Agricultural Adjustment Act
*6.) Subsidy (back of book – dictionary)
7.) Tennessee Valley Authority
8.) Social Security Act ( pg. 711)
9.) The Fair Labor Standards Act (pg. 726)
The New Deal
Franklin D. Roosevelt to Herbert Hoover: Just leave
them Herb. I'll do it all after March 4th.
Bank Holiday
Also known as the Emergency Banking
Act.
 Authorized the federal government to
examine all banks.
 Re-open those that were financially sound.
 Millions of Americans listened to the first of
Franklin Roosevelt’s “fireside chats” for his
explanation.
 “I can assure you that it is safer to keep
your money in a reopened bank than
under the mattress”

F.D.I.C.
Created June 1933
 Federal Deposit Insurance Corporation
 Insured each bank deposit up to $5,000.
 It now insures some deposits up to
$250,000, but it is set to go back down to
$100,000 in 2014.

Civilian Conservation Corp. (C.C.C)

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
Provide relief for many unemployed young men
between the ages of 18 and 25.
250,000 young men left their homes to start
CCC training.
They planted trees, cleared underbrush, created
park trails, and developed campgrounds and
beaches.
Earned $30.00 a month
Most of money was sent back home to their
families.
CCC recruits about to leave for
Missoula
National Industrial Recovery Act
To stimulate industrial and business
activity and reduce unemployment.
 This was done by stabilizing prices, raising
wages, limiting work hours, and providing
jobs.
 Created :

 Public
Works Administration
 National Recovery Administration
Restaurant supporting the NRA scheme.
Agriculture Adjustment Act
Paid farmers to reduce their output of
corn, cotton, dairy products, hogs, rice,
tobacco and wheat.
 The reduction would help raise prices.

Subsidies

A grant by a government to a private
person or company to assist an enterprise
deemed advantageous to the public.
Tennessee Valley Authority (T.V.A)
May 1933
 Built new dams
 Built power stations that provided
electricity, flood control, and recreational
facilities.
 Combat malaria and literacy.

The 34 dams under the control of the TVA on the Tennessee and Cumberland
Rivers not only produced electric power but also played a role in flood control,
irrigation and navigation. The TVA also served several other purposes including
reforestation, preservation of wildlife, production of fertilizer and improved use
of agricultural land.
Social Security Act
August 1935
 Contained three provisions

 Provided
unemployment insurance to workers who
lost jobs.
 Provided pensions to retired workers over the age
of 65
 Provided payments to people with disabilities, the
elderly, and the wives and children of male
workers who had died.
Facts about Social Security

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
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
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The Social Security program turned 77 in August. Since President Franklin
D. Roosevelt signed the Social Security Act on Aug. 14, 1935
life expectancy in 1930 (a few years before the Social Security system
was established), was 58 for men and 62 for women, according to the
Social Security Administration.
Between 1937 and 2007, the retirement system took in $13 trillion and
made payments of $10.6 trillion.
Social Security's first beneficiary, Ida May Fuller of Ludlow, Vt. Paid
social security for 3 years and received benefits averaging about $650
a year (22.54 month) over 35 years.
The first three digits of your Social Security number are assigned
based on geographical region, with the lowest numbers being
assigned in the Northeast. The middle two digits, called the group
number, are allocated in a precise but nonconsecutive order from 01 to
99. The last four digits are issued in a sequential order.
The Social Security trust fund is currently projected to be sufficient to provide
payments through 2037. Unless changes are made to the program, after that
year, resources will be sufficient to pay out only about 78% of scheduled
benefits.
Almost all (94%) American workers pay 6.2% of their taxable income,
up to $106,800 annually, into the Social Security trust fund. Employers
pay a matching 6.2% for each worker. Self-employed workers must
contribute 12.4% of their income annually.
Social Security Board Poster
The Fair Labor Standards Act
1938
 Established a minimum wage
 Set the maximum number of required
hours for a work week at 44. (later lowered
to 40)uioioioyiyuiyi
 Required overtime rate of time and a half
for any hours over the weekly maximum
 Last major New Deal law.

Critics of the New Deal

Francis Townsend
Government to grant a pension of $200 a
month to every American over 60 years of
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days
 Outline for Social S b
ecurity


Charles Coughlin
Radio priest
 Nationalize all banks and return to silver
standard.


Huey Long
U.S. senator from Louisiana
 Robin Hood plan
 Relief program called “Share the Wealth”
 Government would take money from the rich
through taxes.
 Government provide guaranteed minimum
income
 Home to every American
 Long assassinated in 1935.

Huey Long: Every Man a King
Critics
1.) Created welfare state
 2.) Promoted deficit spending
 3.) Too much government involvement

 Threatened
the free enterprise system.
New Deal Benefits
1.) Modernized the South
2.) Broke down class barriers
3.) Brought electricity to rural areas
4.) Boosted family income
5.) Provided jobs – self worth