President Franklin D. Roosevelt
Franklin D. Roosevelt won the presidential election of 1932. He was a democrat and ran against Hoover. He won by a large margin and soon offered a New Deal.
New Deal- The economic and political policies of the Roosevelt administration in the 1930s.
Roosevelt's plans for recovery were never very specific while he was running for president. He often attacked Hoover for reckless and extravagant spending and stated the need for the government to meet "the problem of underconsumption". He also wanted to help "distribute wealth and products more equitably". Between the time of election day and his inauguration, the banking system had almost shut down altogether because of so many banks failing and people hoarding currency. Roosevelt quickly called a session of Congress to deal with the crisis. On March 12 Roosevelt broadcasted his first fireside chat to explain his plan to fix the financial emergency.
Fireside Chat- Speeches broadcast nationally over the radio in which President Franklin D. Roosevelt explained complex issues and programs in plain language, as though his listeners were gathered around the fireside with him.
Congress quickly passed the Emergency Bank Act.
Emergency Bank Act- 1933 act that gave the president broad discretionary powers over all banking transactions and foreign exchange.
The Emergency Bank Act authorized healthy banks to reopen only under licenses from the Treasury Department. By the middle of March over half the banks were back in business.
New Deal- The economic and political policies of the Roosevelt administration in the 1930s.
Roosevelt's plans for recovery were never very specific while he was running for president. He often attacked Hoover for reckless and extravagant spending and stated the need for the government to meet "the problem of underconsumption". He also wanted to help "distribute wealth and products more equitably". Between the time of election day and his inauguration, the banking system had almost shut down altogether because of so many banks failing and people hoarding currency. Roosevelt quickly called a session of Congress to deal with the crisis. On March 12 Roosevelt broadcasted his first fireside chat to explain his plan to fix the financial emergency.
Fireside Chat- Speeches broadcast nationally over the radio in which President Franklin D. Roosevelt explained complex issues and programs in plain language, as though his listeners were gathered around the fireside with him.
Congress quickly passed the Emergency Bank Act.
Emergency Bank Act- 1933 act that gave the president broad discretionary powers over all banking transactions and foreign exchange.
The Emergency Bank Act authorized healthy banks to reopen only under licenses from the Treasury Department. By the middle of March over half the banks were back in business.
The Hundred Days
From March through June of 1933, FDR pushed through Congress numerous acts trying to help end the depression. His New Deal turned into a series of reform and relief measures, instead of one unified program.
The Civilian Conservation Corps (CCC) was established in March as an unemployment relief effort. Road construction, reforestation, flood control, and national parks improvement were a few of the major projects performed across America. CCC workers got room and board and $30 each month for their work.
In May Congress gave $500 million for the Federal Emergency Relief Administration (FERA). About half the money went to the states for direct relief. Harry Hopkins was in charge of this administration and would soon be known as a key figure in administering New Deal relief programs.
Next was the Agricultural Adjustment Administration (AAA). It was set up to provide immediate relief to the farmers. It established prices for basic farm commodities, which included corn, hogs, rice, wheat, cotton, and dairy prices. The AAA managed to raise farm income and pushing up the prices of wheat, cotton, and corn.
Tennessee Valley Authority (TVA)- Federal regional planning agency established to promote conservation, produce electric power, and encourage economic development in seven southern states.
The TVA became known as a unique and controversial projects of Roosevelt's New Deal. It was an independent public corporation that built dams and power plants that allowed electricity to become cheap to have.
National Industrial Recovery Act- 1933 act that was meant to be a systematic plan for economic recovery.
Congress passed the National Industrial Recovery Act on the last of the Hundred Days. Each industry would be self-governed by a code hammered out by representatives of business, labor, and consuming public. The codes would have to be approved by the National Recovery Administration (NRA). Once they were approved, the codes would have the force of law. The NRA sought to halt the slide in prices, wages, and employment. They tended to help business and often at the expense of labor.
Finally the Public Works Administration (PWA) gave $3.3 billion for the construction of roads, public buildings, and other projects. The PWA wound up spending more than $4.2 billion on roads, post offices, courthouses, schools, bridges, and other public buildings.
The Civilian Conservation Corps (CCC) was established in March as an unemployment relief effort. Road construction, reforestation, flood control, and national parks improvement were a few of the major projects performed across America. CCC workers got room and board and $30 each month for their work.
In May Congress gave $500 million for the Federal Emergency Relief Administration (FERA). About half the money went to the states for direct relief. Harry Hopkins was in charge of this administration and would soon be known as a key figure in administering New Deal relief programs.
Next was the Agricultural Adjustment Administration (AAA). It was set up to provide immediate relief to the farmers. It established prices for basic farm commodities, which included corn, hogs, rice, wheat, cotton, and dairy prices. The AAA managed to raise farm income and pushing up the prices of wheat, cotton, and corn.
Tennessee Valley Authority (TVA)- Federal regional planning agency established to promote conservation, produce electric power, and encourage economic development in seven southern states.
The TVA became known as a unique and controversial projects of Roosevelt's New Deal. It was an independent public corporation that built dams and power plants that allowed electricity to become cheap to have.
National Industrial Recovery Act- 1933 act that was meant to be a systematic plan for economic recovery.
Congress passed the National Industrial Recovery Act on the last of the Hundred Days. Each industry would be self-governed by a code hammered out by representatives of business, labor, and consuming public. The codes would have to be approved by the National Recovery Administration (NRA). Once they were approved, the codes would have the force of law. The NRA sought to halt the slide in prices, wages, and employment. They tended to help business and often at the expense of labor.
Finally the Public Works Administration (PWA) gave $3.3 billion for the construction of roads, public buildings, and other projects. The PWA wound up spending more than $4.2 billion on roads, post offices, courthouses, schools, bridges, and other public buildings.
The Second New Deal and Second Hundred Days
The Second New Deal was legislation the Roosevelt and Congress passed and they were different than the First New Deal in some ways. Roosevelt altered his policies because of huge criticism he received. He still knew in 1935 that Americans still needed federal assistance for relief, so he made many of his policies long-term.
Father Charles Coughlin was a Catholic priest in Michigan and one of Roosevelt's most vocal critics. He had a radio show that attracted 40 million listeners. In 1934 he started criticizing the New Deal and Roosevelt saying that his policies were a part of a Communist conspiracy.
Senator Huey P. Long of Louisiana was another critic of Roosevelt. He thought the New Deal wasn't doing enough for Americans. He organized his Share the Wealth program which would give the rich enormous taxes to the rich so an American family could earn at least $2500 a year. A 1935 poll showed he would have earned 3-4 million votes by he was assassinated in September.
All these people swayed Roosevelt to make some changes to his policies, and he came up with the following acts. First was the Emergency Relief Appropriation Act. This gave $5 billion to large-scale public works programs which gave jobs to the unemployed.
Social Security Act of 1935- Act establishing federal old-age pensions and unemployment insurance.
Next Roosevelt passed the Social Security Act of 1935. This provided unemployment compensation, old-age pensions, and aid for dependent mothers, children and blind. This act excluded about one fourth of workers. This was all funded by a payroll tax.
National Labor Relations Act- Act establishing federal guarantee of right to organize trade unions and collective bargaining.
In July of 1935 Congress passed the National Labor Relations Act. It was also known as the Wagner Act because of senator Robert F. Wagner of New York who was the main sponsor. This was the first time the government guaranteed American workers to join or form labor unions and bargain collectively for higher wages, working conditions, and benefits. This act also prohibited unfair labor practices by employers. This included firing workers for joining a union.
Father Charles Coughlin was a Catholic priest in Michigan and one of Roosevelt's most vocal critics. He had a radio show that attracted 40 million listeners. In 1934 he started criticizing the New Deal and Roosevelt saying that his policies were a part of a Communist conspiracy.
Senator Huey P. Long of Louisiana was another critic of Roosevelt. He thought the New Deal wasn't doing enough for Americans. He organized his Share the Wealth program which would give the rich enormous taxes to the rich so an American family could earn at least $2500 a year. A 1935 poll showed he would have earned 3-4 million votes by he was assassinated in September.
All these people swayed Roosevelt to make some changes to his policies, and he came up with the following acts. First was the Emergency Relief Appropriation Act. This gave $5 billion to large-scale public works programs which gave jobs to the unemployed.
Social Security Act of 1935- Act establishing federal old-age pensions and unemployment insurance.
Next Roosevelt passed the Social Security Act of 1935. This provided unemployment compensation, old-age pensions, and aid for dependent mothers, children and blind. This act excluded about one fourth of workers. This was all funded by a payroll tax.
National Labor Relations Act- Act establishing federal guarantee of right to organize trade unions and collective bargaining.
In July of 1935 Congress passed the National Labor Relations Act. It was also known as the Wagner Act because of senator Robert F. Wagner of New York who was the main sponsor. This was the first time the government guaranteed American workers to join or form labor unions and bargain collectively for higher wages, working conditions, and benefits. This act also prohibited unfair labor practices by employers. This included firing workers for joining a union.