US-­‐23.1 Notes Forging a New Deal Restored Na9on’s Hope •  Promoted the New Deal – relief, recovery, and reform programs to combat the Great Depression. •  FDR’s Brain trust – advisors who helped with New Deal legisla9on. •  FDR’s Appointments –  First to appoint a women to his cabinet –  Hiring African Americans to hundreds of posi9ons –  Unofficially relied on Eleanor Roosevelt Frances Perkins Mary McLeod Bethune •  First Hundred Days -­‐ Pushed New Deal legisla9on –  1933 Emergency Banking Act – aim to assess their health – 2/3 reopened •  Americans regain confidence in the banks and redeposit their money –  1933 Federal Deposit Insurance Corpora9on (FDIC) insured bank deposits. –  Federal Securi9es Act – Companies required to provide informa9on about their finances –  Securi9es and Exchange CommiWee (SEC) regulated stock market •  FDR takes US off the gold standard –  Hoped to raise exports by devaluing currency •  Federal Emergency Relief Administra9on (FERA)-­‐ funded public work programs –  Civil Works Administra9on (CWA) – built roads, parks, airports, etc. –  Civilian Conserva9on Corps (CCC) – maintained forests, parks, etc. Men only. •  Na9onal Industrial Recover Act (NIRA) & Na9onal Recovery Administra9on (NRA) – add stability to economy by –  Regulated wages, working condi9ons, produc9on, prices, and minimum wage. –  Unions receive collec9ve bargaining rights. –  Limited success. Homeowners and Farmers •  Home Owners’ Loan Corpora9on – refinanced mortgages to make payments easier. –  Failed; many lose homes. •  Agricultural Adjustment Administra9on (AAA) – tried to raise farm prices by paying subsidies. •  Tennessee Valley Authority (TVA) – provided cheap electricity and flood control. •  Limits of the New Deal –  AAA and NIRA ruled uncons9tu9onal. •  Responded with Second New Deal 1935 –  Works Progress Administra9on – provided work to 8 million people – infrastructure and art work •  Farm Security Administra9on (FSA)-­‐ loans to migrant farmers, sharecroppers, and tenant farmers -­‐ ignored by AAA. •  Rural Electrifica9on Administra9on (REA) provided electricity to rural areas. –  1939 – 25% of rural household vs. 10% in 1930. Ager NIRA ruled uncons9tu9onal •  Wagner Act – legalized collec9ve bargaining and closed shops – workplaces open only to union members. –  Outlawed spying on unions and blacklis9ng. –  Est. Na9onal Labor Rela9ons Board to enforce its provisions. •  Fair Labor Standards Act – banned child labor and est. minimum wage for all workers. Social Security Act 1935 •  Social Security system to provide financial security for people who could not support themselves. The three types of insurance were: – Old-­‐age pensions and survivors’ benefits – Unemployment insurance – Aid for dependent children, the blind, and the disabled