history term 3 week 1

Presidential Election of 1932

• Americans faced a tough choice between sticking with President Herbert Hoover or opting for Franklin D. Roosevelt (FDR).

• FDR promised a balanced budget and proposed direct federal assistance to the unemployed.

• Campaign slogan: "A New Deal for the American People."

• Election Results: 23 million voters supported FDR, leading to a Democratic majority in Congress.

Inauguration and Early Actions

• FDR took office in March 1933, promising to help Americans find work, keep their homes, and protect their savings.

• Main aims of the New Deal:

• Gain support via "fireside chats" (radio broadcasts) to connect directly with the American people.

• Utilize his Congressional majority to enact New Deal policies into law.

• Restore economic activity through government-funded job creation ("priming the pump").

• Expand the federal government by establishing new agencies for recovery and relief efforts.

First 100 Days of FDR's Presidency

• Introduced various measures to tackle the Great Depression.

• Worked with a group known as the Brains Trust for advice and devised plans for recovery.

• Emergency Congress session from March 9 to June 16, 1933, established relief programs and new agencies.

• Utilized modern technology to secure public support; conducted 30 "fireside chats" to explain new laws and promote new agencies.

Tackling the Banking Crisis

• Initially closed all banks for four days (Emergency Banking Act) to assess their stability.

• Only financially sound banks were permitted to reopen.

• FDR's first fireside chat on March 12, 1933, encouraged Americans to deposit their savings, leading to $1 million deposited by the end of March.

• Introduced laws to insure bank deposits up to $2,500, restoring confidence in the banking system.

New Laws and the Alphabet Agencies

• Congress passed significant laws to address various economic issues:

• Agricultural Adjustment Act (AAA): Established Agricultural Adjustment Administration to assist farmers.

• National Industrial Recovery Act (NIRA): Created the National Recovery Administration (NRA) to establish industrial rules.

• Federal Emergency Relief Administration (FERA): Provided relief payments to citizens.

• Economy Act: Reduced government expenses by 25%, cutting federal spending by about $450 million.

• Beer and Wine Revenue Act: Legalized low-alcohol beverages to raise funds for the New Deal.

Ending Over-Production in Agriculture

• AAA aimed to raise prices by subsidizing farmers for limiting production.

• Farmers received payments for keeping land idle to control supply.

• Established the Commodity Credit Corporation to pay farmers for excess goods, encouraging price stability.

Supporting Farmers and Addressing Housing Issues

• Farm Credit Administration (FCA): Improved mortgage conditions for 20% of U.S. farms, helping farmers keep their land.

• NRA instituted industrial codes for regulating production, prices, wages, and working hours.

• Provided incentives for businesses adhering to codes, including the NRA Blue Eagle symbol.

Direct Relief and Social Welfare

• Federal Emergency Relief Act: Allocated $500 million in grants for states, supplementing relief budgets for immediate unemployment crisis.

• Home Owner's Refinancing Act: Extended mortgage payment periods from five to twenty years, aiding around 1 million homeowners.

Work Relief Measures

• Civilian Conservation Corps (CCC): Provided jobs for young men with outdoor projects, paying $30 monthly, most of which was sent home.

• Public Works Administration (PWA): Funded major construction to create jobs with a budget of $3.3 billion.

• Civil Works Administration (CWA): Temporary agency deployed $400 million for short-term jobs until early 1934, benefiting 4.2 million workers.

Federal Control and Regional Recovery Initiatives

• Established the Tennessee Valley Authority (TVA) to aid seven states with job creation, electricity coverage, and flood control.

• Aimed to improve productivity in rural areas, targeting economic recovery comprehensively across the regions.