The New Deal

the Roosevelt Family Name

high stature and power, very politically involved and powerful; FDR was related to Teddy Roosevelt, who was very well-liked. People associated his likability with FDR.

polio

in his 20s, FDR contracted this disease and lost functionality of his legs and he was wheel-chair bound for the rest of his life. This period of his life turned him from a spoiled and entitled guy, giving him a purpose and direction in life (to give back)

FDR’s political background

before running for president, FDR was already had a political career-- he was the governor of New York. After already implementing his grandiose claims there, he proved to America that his political experience and evidence backed up his promises to expand these policies to a federal level.

liberal

FDR’s political party; a new movement that meant you believed in being more liberal/radical in economic matters instead of personal ones. FDR was willing to go into deficit for Direct Aid and regulate private enterprises.

1932 election

FDR won sweepingly and saw great success in Congress, becoming the president of a Democratic majority, meaning he could easily pass anything he wants

20th Amendment

moved the inauguration date from March to January, but it didn’t take effect until the next election cycle, meaning FDR didn’t see its benefits.

Brain Trust

FDR organized a group made up of the top experts in their fields that helped him come up with policies and created a game plan for FDR’s presidency

the goals of the New Deal

relief for the needy (Direct Aid), financial reform (banking industry needs to be fixed), and economic recovery (US economy was in a terrible state, and FDR wanted to bring it back to how it was before)

FDR’s First 100 days in office

March 9 to June 16 1933 -- very important because everyone is watching as FDR must back up all these promises he made; for FDR, it was an intense period of activity, as he passed 15 major pieces of legislation, which was unheard of before.

Bank Holiday

FDR’s first act as president was to do this in which he closed all banks in America because people were taking all their money out. They were afraid that their bank would close and they would lose all their life savings.

Bank Rush

when many Americans withdrew their life savings from the banks out of fear, but the problem was that banks don’t actually keep a lot of physical money, instead keeping track manually. This was putting many banks out of business, so the holiday was created to prevent this.

Emergency Bank Relief Act

allowed the Treasury Department to inspect banks to decide if a bank reopened or not

Fire Side Chat

radio address in which FDR told the American people “this is what I’m doing and why"; it was a huge hit with the American public as he simplified his plans, and FDR made it a weekly thing

Economy Act

promised the federal government would work towards balancing the budget; in one fiscal year, the what the government spends will equal what it earned

structural reform

once FDR had solved the financial crisis, he focused his attention on this.

Glass-Steagall Act

established the FDIC

Securities Act/Securities and Exchange Act

gave the federal government the authority to regulate the stock market; allowed them to set rules/laws that companies on the stock market must follow

cooperation

FDR believed in _______________ rather than free hand-outs to bring about economic recovery

AAA and NIRA

FDR’s greatest and proudest (in his opinion) achievements in his first term in office.

Alphabet Soup

the New Deal was nicknamed this because of the many acronyms it used.

Agricultural Adjustment Act

AAA -- paid famers to keep their land out of cultivation and reduce herd sizes; did not include sharecropped or Great Plains region; Supreme Court ruled this program unconstitutional because it interfered with state affairs

Tennessee Valley Authority

TVA -- Tennessee Valley was flood prone; this created jobs building dams to provide hydroelectricity. The dams would prevent future floods and provide lower cost electricity to the impoverished area. This was a government organization behaving as a private industry (called government corporation)

Federal Emergency Relief Administration

FERA -- granted $500 million of relief to the poor; worked cooperatively with state governments; head: Harry Hopkins; created the CWA

Civilian Conservation Corps

CCC -- gave men aged 18-25 jobs in a work camp where they could plant trees, halt erosion, and improve the environment. During the off hours, education was offered, but they sent most of your salary home because they providing men with housing and food. Minorities were segregated.

Federal Deposit Insurance Corporation

FDIC -- restored the confidence in banks and insured bank accounts up to ($2,500) $5,000

Civil Works Administration

CWA -- created small-scale public works jobs (built roads, schools, flood walls); created by FERA

Securities and Exchange Commission

SEC -- police force of the stock market; people can sue companies for fraud

National Industrial Recovery Act

NIRA --curtail production in an effort to raise prices/revenue; recognized unions; ruled unconstitutional by the Supreme Court (over reach of power)

National Recovery Administration

NRA --Head: Hugh Johnson; created fair codes of competition (set prices, wages, hours); symbol: Blue Eagle; Supreme Court declared this program unconstitutional

Soil Conservation Service

SCS -- Head: Hugh Hammond Bennet; urged farmers to plant soil conserving grasses/legumes in place of wheat, taught them how to plow, build terraces; direct response to the Dust Bowl

Public Works Administration

PWA -- created large scale public works projects (Lincoln Tunnel, Triboro Bridge); created by the NIRA; head: Harold Ickes

Home Owners Loan Corporation

HOLC -- helped refinance mortgages; EXCLUSIONS: no farms, no more than 4 families could live in your home, no homes valued at more than $20,000

liberal

FDR was identified as this

financial reform, relief for the needy, and economic recovery

the three main goals of the New Deal

20th Amendment

this effectively moved the inauguration date from March to January

polio

due to FDR having ______, he spent the rest of his life in a wheelchair

economic matters

the new reform movement in the 1930s supported federal intervention here

fifteen

Between March 9th and June 16th, Congress passed _______ major pieces of legislation

first 100 days

these are crucial to a new president because it is his opportunity to prove he meant what he said on campaign

AAA and NIRA

FDR considered these two his most significant programs in the New Deal

Theodore Roosevelt

many Americans thought that due to FDR’s relation to this man that he would be a similar president.

Fireside Chat

FDR’s radio address to the nation that he continued throughout his presidency

bank rushes

the banks were closed by FDR in order to stop these

Emergency Banking Relief Act

this authorized the Treasury Department to inspect banks before they could reopen

Glass-Steagall Act

this created the FDIC

Brain Trust

FDR’s closest advisors were nicknames this because they were the best and brightest in their fields

bank holiday

FDR’s first act as president; this effectively closed all banks in the United States

Securities Act

this authorized the federal government to regulate the stock market

New York

FDR was governor of this state prior o running for president

Economy Act

this called for the federal government to pass a balanced budget for one fiscal year

Democrat

after the 1932 elections, Congress was controlled by this party

FDIC

this insured bank accounts up to $5,000