• Republicans must stay with Hoover or take blame for Depression

• Democrats choose Franklin D. Roosevelt

• Hoover says F.D.R. will destroy the American economy

• F.D.R. traveled 25,000 miles, promised to help “the forgotten man” - “New Deal”

• F.D.R. wins - Inaugural Address - “The only thing we have to fear is fear itself. Reality was that he was the first to give the nation hope

• Group of intellectuals who advised the President

• Raymond Moley - Law professor

• Rexford Tugwell - Agriculture professor

• Adolph Berle - Corporate finance lawyer and speech writer

• The first “New Deal”

• March 9 - June 16, 1933

• Honeymoon period when the President told the Brain Trust “If all fails admit it frankly and try another, but above all try”

• Declared a “Bank Holiday” - fastest bill in history

• Sec. of Treasury called in all gold in the country ($10,000 fine if you didn’t)

• Examined all banks - sound ones were allowed to reopen

• First “Fireside Chat” he says “I assure you it is safer to keep your money in a reopened bank than under a mattress”

• By end of next week 3/4 of nations banks reopened

• Emergency currency issued to halt bank runs

• Prohibited commercial banks from selling stock or financing corporations

• Created Federal Deposit Insurance Corporation (FDIC) which insured investors up to $2,500

• F.D.R. had the U.S. taken off the gold standard in April, 1933

• By 1934, the dollar is worth 59 cents

• Goal was to see major businesses shortened hours and raised wages

• “Codes of Fair Competition” - minimum wage, no child labor, and collective bargaining

• Established N.I.R.A.

• Effort to join the federal gov’t with business and labor to fight the depression

• Set codes of fair competition

• Headed by Hugh Johnson

• Blue Eagle “We do our part”

• People encouraged to only go to NIRA businesses

• Small and large businesses didn’t like it (too pro-labor)

• NIRA and NRA declared unconstitutional - can not establish codes of fair competition

• National Labor Relations Act - 1933

• Saved part of the NIRA• No coercion of employees• No firing due to union membership• Guarantee collective bargaining

• CCC - March 31, 1933

• Provide employment for men age 18-25

• Built parks and battlefields

• Paid $30.00/month, $25.00 had to be sent home

• To advise and assist farmers

• May 12, 1933

• Government paid farmers not to produce

• Paid subsidies for unplanted land

• By 1934 - size of Illinois

• May 12, 1933, FERA• To provide direct relief to

needy Americans. • System set up $5 million to

state and local governments to directly help the needy

• TVA, May 28, 1933

• To help develop the resources of the Tennessee Valley

• 25,000 miles long, 25 dams, 7 states benefit from electricity provided

• Encouraged industry in area

• HOLC, June 13, 1933

• To help townspeople refinance their mortgages

• Low interest rates and 15 years to pay mortgage

• Helped middle and upper middle class homes

• PWA, June, 13, 1933

• Provide employment on public works

• Help business help people

• Usually were construction jobs

• Enterprise and Yorktowne

• June 13, 1933, NRA

• To revive American business

•FCA, June 16, 1933

•Set up credit system for farmers

• CWA, November 8, 1933

• Provided employment at federal expense

• Rake leaves, pave roads,

• Real goal was to get people through the Winter of 33-34

• Airports, schools $15.00/week

•SEC, June 6, 1934

•Protected public and private investors in stocks

•FHA, June 28, 1933

•Inside loans for home construction

• Wanted to pay every American over 60 $200/month

• To be paid by 2% sales tax

• Person could not hold a job

• Had to spend money every month

• Popular idea with the people

• Cost $24 billion/year

• “Radio Priest”

• Received more mail in 1934 than FDR - very popular

• Wanted government ownership of banks, natural resources and public utilities

• “Kingfish”

• Proposed gov’t take money from the rich and give to the poor

• Give every family a car, home, & a radio

• College education if wanted

• Tax the rich at 70% - he was assassinated

• WPA, April 8, 1935

• Provide jobs and training for 16-25 year olds

• Accounted for over 1/2 of schools built in the 1930’s, 800 airports, 13,000 playgrounds, 2,500 hospitals

• Kept artists and actors employed

•NLRB, July 5, 1935

•Purpose was to guarantee rights to workers

• SSB, August 14, 1935

• To provide a sound social security system

• Helped children, handicapped, and the aged

• Every worker had to take part

• Provided for unemployment compensation

• Employers and employees made mandatory contributions out of wages

• Idea came from Francis Perkins, first women to hold a cabinet position