Franklin Delano Roosevelt

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• Franklin Delano Roosevelt
• Energetic
• Optimistic
• Aggressive
• The only thing we have to fear
• is fear itself.

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Roosevelts 100 Days

• 15 Proposals for recovery sent to Congress
• Major expansion of the Federal Govts power
• Opposite approach from Hoovers do nothing
  stand
• Based on Relief, Recovery and Reform

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Banking and Finance

• Bank Holiday Restore peoples faith
• Banking Relief Act
• Failures caused withdrawals
• Banks had to prove solvency to re-open
• Loans to those that could not
• Fireside Chats to explain how banking worked
  asked people to use banks again.
• Glass-Steagle Banking Act 1933
• Est. Federal Deposit Bank Insurance
• Amounts up to 2,500

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Stock Market Regulation

• Addressed reasons for Stock Market Crash
• Federal (Truth In) Securities Act
• Complete Disclosure about Stocks
• Securities Exchange Commission (SEC)
• Stopped Insider Trading
• Rigging of stock Offerings

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Relief For Americans

• Federal Emergency Relief Agency (FERA)
• Govt Agency gave grants to states
• 500 Million to help local relief agencies
• Public Works then Civil Works Administration
• Gave states to create 4 million jobs in
  construction.
• Built schools, roads bridges
• Civilian Conservation Corps
• Young men built roads, parks, planted 200 Million
  to try to help prevent erosion in Dust Bowl again

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Regional Relief

• Agricultural Adjustment Act (AAA) Farmers
• Reduced production to end surplus
• Drive prices up leave land bare
• Slaughter livestock ---it worked.
• Tennessee Valley Authority (TVA)
• Built Dams in TN, AL, NC GA
• Supplied 1st time cheap power to the south
• Eliminated flooding improved transport.
• Created thousands of jobs

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TVA Projects
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Industrial Relief

• National Industrial Recovery Act (NIRA)
• Creates Natl. Recovery Agency (NRA)
• - Codes for fair pricing
• - Set prices for fair competition
• - Standards for work hours/banned
• child labor
• - Unions can organize bargain
• collectively

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Homeowners Get Relief

• Home Owners Loan Corp (HOLC)
• Loans to people who couldnt pay mortgages _at_ low
  interest rates
• National Housing Act
• Created the Federal Housing Authority
• Provides low interest loans for 1st time
  homeowners, and to refinance schools, hospitals,
  nursing homes

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Supreme Court Stalls Program

• Conservative Supreme Court declared two Roosevelt
  programs unconstitutional b/c
• NIRA regulated national industries, but the
  Federal Govt could regulate only interstate
  commerce.
• AAA interfered with state matters - agriculture
  should be regulated only by states.

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Roosevelt Strikes Back!

• Alarmed about future Court decisions
• Proposes Court Reform Bill to seat 6 more judges
  to Supreme Court to make it more effective.
• Court Packing bill widely criticized for
  violating separation of powers clause.
• Damaged Roosevelt in eyes of conservatives

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Labor Reforms

• Wagner Act 1935
• (Natl Labor Relations Act)
• Supported Collective Bargaining rights
• Specified unfair labor practices as
• Threatening workers
• Firing Union members
• Prohibiting union organization
• Establishes Natl Labor Relations Board to hear
• testimony about unfair practices.
• Fair Labor Standards Act
• - Minimum wages Set work week 44
  hrs. No Child Labor

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Critics of the New Deal

• Father Charles Coughlin
• Energetic radio sermons denounced Roosevelts
  programs NOT ENOUGH
• He wanted guaranteed incomes and federal
  ownership of banks
• Dr Francis Townshend
• Townshend Plan Elderly retire get 200/mo.
• Must spend it all Great public support!
• Set the stage for the Social Security program

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Critics of the New Deal

• Huey Long
• Governor of Louisiana
• Share Our Wealth
• Take from rich Give to Poor - Robin Hood!
• Assassinated in1935

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Social Reforms

• Social Security Act Social Security Program
• Most important social legislation of New Deal to
  date
• Old age insurance for retirees 65 spouses
• Supplement to retirement plans
• Welfare
• Aid to Families with Dependent Children
• Needy elderly, blind, crippled
• Unemployment Compensation
• Federal tax on employers to help pay benefits to
  workers who lost their jobs until they get new
  ones.

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Impact of the New Deal

• Expanded Govts role and power.
• Workers rights recognized and expanded
• Farm price supports and subsidies
• Investor Protection in Stock Exchange
• Savings Accounts Insured
• Social Security and Welfare protection against
  total poverty.