The First New Deal
US History
Franklin D. Roosevelt
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In 1932, FDR was elected
President.
People were happy to see
Hoover go.
Roosevelt had a long political
career.
He was a member of the New
York legislature, assistant
secretary to the Navy, and
Governor of NY.
In the early 30’s, he was
struck with polio and lost use
of his legs.
For the rest of his career, he
was forced to lean on a
podium.
Banks in the 1st 100 days
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*People rushed to the banks to withdraw all of
their money, which was not all there.
Many banks were forced to close because they
didn’t have the funds to operate.
People had lost faith in the banking system and
refused to deposit any money in those institutions.
FDR declared March 5th a bank holiday and did
not reopen banks that were not financially sound
until March 9th.
The gov’t rushed funds to some banks and FDR
urged the nation to deposit $ into the banks to
get them going again.
Federal Emergency Relief
Administration
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FDR encourage direct
relief, unlike Hoover.
FDR passed FERA
which distributed over
$500 million for direct
relief for needy
people.
To prevent people from
directly relying on the
money, FDR had other
programs passed which
would allow people to
work for money.
Civilian Conservation Corps.
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Employed hundreds of
thousand of men 18-25
years old.
They would get $30 per
month, $25 of which would
be send home. They would
also get room and board for
their labor.
They went around the
country creating and
maintaining national parks,
creating reserves, building
dams, and other public
works projects.
Public Works Administration
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Had a budget of
$3.3 billion and
created schools,
gov’t buildings, and
worked on the
infrastructure of
the US.
National Recovery
Administration
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Tried to help business
leaders, unions, and
workers get back to
business.
They would fine
businesses that did not
follow the codes
created by the NRA to
try and help stimulate
the economy.
Agricultural Adjustment
Administration
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Paid farmers a
subsidy to stop
producing so much.
They would also pay
farmers for excess
food they had to
try and reduce the
supply, so prices
would go up.
Tennessee Valley Authority
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Built dams and
provided electricity
to southeastern
states.
Other things passed…
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FDR passed the Truth-in-Securities Act,
which prohibited fraud in the stock market.
The Glass-Steagall Banking Act, which
prohibited banks from investing in the stock
market.
The Federal Deposit Insurance Corporation,
which insured banks who belonged.
President Roosevelt
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FDR was good at speaking
to the public, unlike
Hoover.
FDR held fireside chats,
which were informal talks
with the public using the
radio. He would speak in
simple terms so that
everyone could understand.
He held weekly press
conferences and would
answer as many questions
as possible.
The public loved him.
Eleanor Roosevelt
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A great influence on her
husband, FDR.
She showed him the other
side of life before he took
public office (he really only
knew about the wealthy).
She traveled across the
nation because FDR couldn’t
and spoke for programs he
had enacted.
This helped FDR because he
had a positive attitude and
a caring feel that America
loved.