FDR’s New Deal Note Guide
Relief, Recovery, Reform
Franklin Delano Roosevelt
• New York native; New York State Senate
• Assistant Secretary to the N________________
• New York G_______________ (Democrat)
• P___________
• Wife = _________________________
• Easily won election of 1932; in office 1933-_____________
Fireside Chats
• Addressed the nation by R______________ to explain to them what he was trying to accomplish
• First main chat over the Emergency Banking Relief Act
• Encouraged people to trust having their S______________ in banks
– Restored confidence in banking system
• Gave Americans confidence and H__________
100 Days
• When Roosevelt took office most banks were closed and ¼ workers were U_________________
• F__________ N_______ D_____________
– Beginning of term in which 15 major acts to resolved economic crisis were passed
• Banking Relief
– Needed to restore confidence in banks
– Emergency Banking Relief Act
• Bank Holiday
– Closing banks before R_______ on B____________ could put them out of business
Relief Programs
Emergency Banking Relief
• Required federal examiners to survey the nation’s banks and issue Treasury licenses to those
that were financially sound
• Placed banks on a temporary H_____________________ until they could examine soundness
• Gave citizens confidence in banking system and ended B_______________ C___________
Civilian Conservation Corps (CCC)
• Offered employment to U________________________ 18-25 year old men
• Planted T_________, fought F_____________ F_______, built R__________________
• Men lived in C_______________ near work areas
• Earned $30/month
– $25 of that was sent back to F________________
• Returned home after about 6-12 months
• Gave jobs to ______ million men
Public Works Administration (PWA/WPA)
• Gave jobs to people building D__________, sewer systems, highways/roads, S______________,
and other gov’t facilities
• PWA awarded contracts to C_____________________ companies and insisted they not
discriminate in hiring practices
– Broke down R_____________ barriers in construction business
Civil Works Administration
• Hired workers directly instead of giving C_________________ like the PWA
• Built or improved A_____________, roads, school buildings, P____________________ and parks
• Employed 4 million people including 300,000 W_______________ in the winter of 33-34
• Closed down after winter because Roosevelt was worried about how quickly the agency was
spending money
• Spent ________________________________ in 5 months
Recovery Programs
Tennessee Valley Authority
• Provided E________________, F___________ C______________, and E________________
D____________________ to the Tennessee Valley region
• The region included Tennessee, and portions of Kentucky, Alabama, Mississippi, N. Carolina &
Virginia – areas that had been hit really hard by the Great Depression
Home Owner’s Loan Corporation
• HOLC bought the M__________________ of many homeowners who were behind on payments
– Restructured L_____________ with longer terms of repayment and lower interest rates
• If people could not make loan payments they would F_____________________ on their house
Farm Credit Administration
• Help farmers refinance their M_________________________
• Able to push interest rates lower
• Saved millions of farms from F_________________________
Agricultural Adjustment Act
• Prices for farm goods was low due to a S____________________ of goods
• Pay farmers to not raise certain livestock or not grow certain crops
• Acres were plowed and livestock was destroyed in an effort to raise P__________ of farm goods
• Farm surplus fell, food prices rose, and farmers income rose
• However, many were upset that while families didn’t have enough to eat, crops were purposely
being D______________________
• Also concerned that it benefitted large commercial farmers who focused on one crop
• Another criticism was that poor T___________________ farmers, many were African
Americans, lost jobs and homes when landlords took their fields out of production
National Industrial Recovery Act
• Focused on I________________________
• Suspended anti-trust laws and allowed business, labor and gov’t to cooperate when setting up
rules for industry
• Codes of F______ C__________________: set prices, established minimum wage, limited
factories to 2 shifts per day, shortened work hours, and guaranteed right of workers to join
unions
– Goal was to ensure more people could get J_____________
• Those that agreed to these codes received S_____________ to put in windows to encourage
consumers to only buy from those stores
• Failed because you didn’t have to sign codes
– Many didn’t join because they did not like unions
– Felt M_________________ W__________ required them to raise prices of goods
– Difficult for ___________________, who ran the program, to administer codes
Reform Programs
Glass-Steagall Act
• Separated C_________________ banking from I_____________________ banking
• Commercial banks that handle everyday deposits and lend money for mortgages could no longer
use depositor's money to play the stock market
Securities Exchange Act (Securities Exchange Commission)
• Required companies that sold stock to provide complete & truthful information to I__________
• _______________________________________ regulates that stock market and prevents fraud
Federal Depositor’s Insurance Corporation
• Provides government I____________________________ for bank deposits up to $250,000
• Increased public confidence in B__________________
Impact of First New Deal
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•
•
•
•
•
•
Did not restore prosperity
Reflected Roosevelt’s willingness to try to improve the ______________________
B__________________ were reopened
More people E____________________
More people retained H___________ and F___________
Improved American spirit
2 programs unconstitutional: AAA and ______________________