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Franklin Delano Roosevelt
First major action as president: close all of the national banks & inspect them
National debt reached a new high under his term
People saw him as compassionate, determined, and self-confident
New Deal
FDR’s program to alleviate the problems of the Great Depression
focusing on relief for needy, economic recovery, regulation of the stock market, and financial reform
Also helped farmers increase price of farm goods by decreasing surplus
Republicans & businessmen against it
Glass-Steagall Act
Established the Federal Deposit Insurance Corporation (FDIC),
Goal: restoring confidence in the banks
Federal Securities Act (FSA)
Required corporations to provide complete truthful information on all stock offerings
goal: restoring confidence in the stock market
Agricultural Adjustment Act (AAA)
Paid farmers to lower production/destroy crops
goal: raising crop prices & farm income
Ruled unconstitutional by the Supreme Court
Civilian Conservation Corps (CCC)
Put almost 3 million young men to work building roads, developing parks, planting trees, and helping in soil-erosion and flood-control projects
Showed presidents concern for the environment
Tennessee Valley Authority (TVA)
provided funds to build and repair dams, flood-control projects, and powerplants
National Industrial Recovery Act (NIRA)
set fair prices on products and established labor standards
Goal: ensuring fair business practices & promoting industrial growth
Ruled unconstitutional by the Supreme Court
Emergency Banking Relief Act
inspected banks and close those that were unsound
Goal: restoring confidence in banks
Federal Emergency Relief Administration (FERA)
Provided direct relief in the form of food and clothing to the neediest people hit by the depression - the unemployed, the aged, and the ill
Deficit Spending
the government's spending of more money than it receives in revenue
Huey Long
Claimed the New deal policies were useless and proposed a social program called Share-Our-Wealth
Eleanor Roosevelt
Important advisor on domestic policy
Works Progress Administration (WPA)
Provided the unemployed with new jobs in construction, garment making, teaching, the arts, and other fields
National Youth Administration
provided young Americans with aid and employment during the Great Depression
Wagner Act (National Labor Relations Act)
protected workers rights to join unions after the Supreme Court declined the National Industrial Recovery Act unconstitutional
Fair Labor Standards Act
Set the national minimum hourly wage and prohibited factory labor for children under sixteen years of age
Frances Perkins
First woman cabinet member
Helped create the Social Security system & crafting labor legislation
Mary McLeod Bethune
Educator/Appointed head of the Division of Negro Affairs
Helped organize a “Black Cabinet” to advise Roosevelt on racial issues
John Collier
Commissioner of Indian (Native American) Affairs
New Deal Coalition
An alliance of (southern whites, African Americans, unionized workers) who supported the policies of the Democratic Party
Congress of Industrial Organizations (CIO)
composed of industrial unions, merged with the AFL
Meant to unionize both skilled and unskilled workers
Gone With the Wind
1939, a movie dealing with the life of Southern plantation owners during the Civil War, one of the most popular films of all time
Orson Welles
Actor, director, producer, and writer
Broadcast, “The War of the Worlds”
Directed the movie classic, Citizen Kane
Grant Wood
His famous painting American Gothic depicts two stern-faced farmers standing stiffly in front of a farmhouse
Woody Guthrie
Used music to express the hardships of American life during the Depression
Richard Wright
Wrote Native Son, depicts the difficulties faced by a young man trying to survive in a racist world
The Grapes of Wrath
A novel by John Steinbeck, published in 1939, deals with a family of Oklahomans who leaves the Dust Bowl for California
Federal Deposit Insurance Corporation (FDIC)
Created through the Glass-Steagall Banking Act, insured individuals’ bank accounts, protecting against bank failure
Up to $5,000 per individual bank account ($250,000 today)
Securities and Exchange Commission (SEC)
monitored the stock market and enforce laws regulating the sale of stocks and bonds
National Labor Relations Board (NLRB)
prevented unfair labor practices & mediated disputes between workers & management
Established by the wagner act
Parity
government-supported level for the prices of agricultural products, intended to keep farmers’ incomes steady by regulating prices of crops
Social Security Act
Provide aid/pension to retirees, the unemployed, people with disabilities, and families with dependent children
Had the biggest long term impact on the economy
Tennessee Valley Authority (TVA)
established to construct dams and power plants in the Tennessee Valley region to generate electricity(hydroelectric) & prevent floods
Federal Deficit
Increased during the Roosevelt administration as the federal government expected reforms to stabilize the economy