Restoring HopeChapter 16 Section 1

Chapter 15 Review What led to the Stock market crash of

1929?

Who was the president at the time?

Did he do anything to help American citizens during this economic crisis?

Who won the election of 1932?

Roosevelt Confronts the Emergency

1932: created a group of advisors known as the Brain Trust• Help with organizing and creating 15 recovery measures

Roosevelt was asking congress for a temporary change in the balance of executive and legislative power

1933 Congress approved all of the recovery measures

These Measures made up the core of the NEW DEAL PROGRAM

March 1933 - Bank Holiday: Roosevelt closed all banks for a few days to stop massive withdrawals

Congress passed the Emergency Banking Act

• Authorized the federal government to examine all banks

Financially sound banks could reopen

March 12, 1933 Americans tuned on their radios to listen to President Roosevelt deliver speeches to the American people

“Fireside Chats”: radio broadcasts from the White House

Roosevelt urged Americans to put their money back into the open banks• When banks reopened citizens began

making deposits Congress created the Federal Deposit

Insurance Corporation in 1933• Insured bank deposits up to $5000

Home Owners Loan Corporation (HOLC) Farm Credit Administration (FCA)

Relief for the Needy Roosevelt created large-scale programs for direct

relief of the needy• Eleanor Roosevelt

Brought in many veteran reformers to direct programs• Frances Perkins as the Secy. Of Labor

1933 - Federal Emergency Relief Administration (FERA)• Half of the money went directly to families

• Other half went to the states and cities as grants

• States and cities would create and initiate the work-relief projects

Headed by Harry L. Hopkins

Most Americans disliked direct relief • They wanted jobs not handouts

Hopkins created the Civil Works Administration (CWA) to address this issue

Congress also created the Civilian Conservation Corps (CCC) 1933

Helping the Nation Recover

President Roosevelt pushed forth recovery programs

Roosevelt utilized the beliefs of John Maynard Keynes• In order to fully recover from a depression the

government had to spend money to encourage investment and consumption

1933 - Congress passed the National Industrial Recovery Act (NIRA)• Created to stimulate industrial and business

activity

Agricultural Recovery Roosevelt called for all farmers to cut

production 1933 - Agricultural Adjustment Administration

(AAA)• Paid farmers to reduce output

Now with increased income farmers would be able to spend money

1933 - Tennessee Valley Authority• Aid to rural areas

• Building dams, fighting diseases, providing electricity

Equality Under the New Deal

New Deal designed to help people of all races, but discrimination still existed

Fighting Discrimination• Eleanor Roosevelt was very influential • Robert C. Weaver- advising the Dept. of Interior• Black Cabinet or Black Brain Trust• John Collier – commissioner of American Indian

affairs

Important Concepts from this Section

New Deal Bank Holiday Federal Deposit Insurance

Corporation Tennessee Valley Authority