Roosevelt Tackles the
Depression
1932 the country was in deep trouble.
The summer of ’32, Democrats nominate
Franklin Delano Roosevelt.
FDR pledges a new deal for the American
People.
Franklin D. Roosevelt
• Education; Harvard and Columbia Law
• Marries; Teddy Roosevelt’s niece Eleanor.
•
•
•
•
•
New York Senator in 1910
Assistant Secretary of the Navy in 1912
Diagnosed with Polio in 1921
Governor of New York in 1928
“The only thing to fear is fear itself”
First 100 Days
• Roosevelt and his brain trust (group of
advisors) campaigned a New Deal:
Relief for the hungry and jobless
Recovery for agriculture and industry
Reforms to change the way the economy
worked
• FDR Fireside Chats
– In these radio talks, Roosevelt explained
his policies in a warm and friendly style.
Major features of the New Deal
Franklin D. Roosevelt
• Social Security
• Federal work programs (CCC)
• Farm assistance programs
(AAA)
• Increased rights for labor
– Fair Labor Standards Act
Fixing Banks (Reforms)
1.
2.
3.
•
•
•
•
•
Emergency Banking Relief Act
Roosevelt closed banks; bank holiday.
Banks are examined and issued Department of Treasury
licenses if financially sound.
Securities and Exchange Commission Act (SEC)
Regulate the stock market and prevent fraud.
Glass Steagall Act no longer allowed the banks to risk
money in the stock market.
Federal Deposit Insurance Corporation (FDIC)
Provide government insurance for bank deposits up to a
certain amount.
Farms and Industry (Recovery)
•
Agricultural Adjustment
Administration (AAA)
•
Regulated farm production and promoted soil
conservation
• National Recovery Administration
(NRA)
•
Regulated industry and raised wages and
prices.
Jobs/Debt Relief
1.
2.
3.
•
•
•
•
•
•
•
•
Civilian Conservation Corps (CCC)
Offered unemployed men between 18 and 25 work.
Planted trees, fighting forest fires, building reservoirs.
Earned $30 a month and lived in camps
Public Works Administration (PWA)
Construction projects.
Awarded contracts to construction companies.
Insisted contractors hire African American.
Civil Works Administration (CWA)
Hired workers directly and put them on the federal
government’s payroll.
Built or improved 1,000 airports, 500,000 miles of roads,
40,000 school buildings and 3,500 playgrounds, parks,
playing fields
Second New Deal
• in 1935, Roosevelt launches a 2nd new deal
– Social Securities Act most important program of
the new deal.
• Provided security for the elderly and for unemployed
workers
• in 1936, Roosevelt re-elected for a 2nd term
– The last new deal reforms are launched
• Fair Labor Standards Act
– Abolished child labor.
– Established 40 hour work week