Franklin Delano Roosevelt
FDR, 1910 elected to new york state senate. (ALBANY)
assistant secretary of the navy during WWI
Ran for vice president in 1920, lost, then got polio
in 1928 became governor of new york, president from 1933-1945
Banking act of 1935
made the fdic a permanent agency withing the US Government
strengthend the power of the federal reserve making banking safer overall
federal securities act
passed in 1933
made the stock market a safer place for people to invest
TEST REVIEW:
1. background of hoover and 28 election- won election cause 20's were great so why would they change. background: born west branch iowa, parents bothed died before 10, moved to oregon, went to stanford, went into mining, secretary of commerce.
2. what did hoover do to help? people think it didn't do much at all. But actually did more to help the economy than any other president. "be patient" then people became inpatient.
two goals
required that investors receive significant information regarding securities being offered for public sale.
prohibited deceit misrepresentations and other fraud in the sale of securities to the public
Securities and exchange commision(SEC)
established in 1934, still around today
this organization regulates the stock markey therefore making the market more secure and safer for people's money
oppenents
some sat FDR went to far. spent to much money
others say he didn't do enough he needed to do more
people felt roosevelt was trying to become a dictator
people said his government was to big now
some thought interferring and unconstitutional
TEST REVIEW:
1. background of hoover and 28 election- won election cause 20's were great so why would they change. background: born west branch iowa, parents bothed died before 10, moved to oregon, went to stanford, went into mining, secretary of commerce.
2. what did hoover do to help? people think it didn't do much at all. But actually did more to help the economy than any other president. "be patient" then people became inpatient. help people through job opportunities,
(FFB)Federal farm board- bought farm surplus, moved over production then waited for prices to go up to sell, not that successful
tariff- tax on imports
high tariff- encourage people to buy amercian products, took away world trade because other countries
revenue act- raised taxes on rich, rich had to cut jobs cause they lost money
hoover moratorium- told germany to pay back great britain and france
mexicans forced to go back to mexico
unpopular because he seemed un-caring,
wwI vets wanted pension early congress said no. hoover used our military to get the vets out of DC
3.IMPACT THAT THE STOCK MARKET CRASH AND GREAT DEPRESSION HAD ON PEOPLES LIVES-
Banks closed down
People lost homes,some committed suicide, stole, lacked food,
Crime
teenagers dropout and leave on trains
hoovervilles
bread lines
soup kitchens
4. Background of FDR
born into a wealthy family
married 5th cousin
went to harvard
1910 new york senate
WWI assistant secretary of the navy
ran for VP and lost to coolidge with cox
got polio, couldn’t use legs (put in a wheelchair for the rest of his life) people thought career over
became governor of new york
then ran for president and won because he wasn’t hoover, promised “NEW DEAL”
5.
FOCUS ON: Social Secutiy, SEC, FDIC
Unemployed- FERA- handed out welfare checks
WPA, PWA, CWA- building schools, airports, buildings, hospitals
all created jobs on govt projects
Young people:
nya ccc, part time work, so that people didn’t have to leave families after dropping out, manual labor, ccc ran by US army
Factory workers/labor unions:
NIRA-NRA- blue eagle codes,fair prices and paying good wages with decent hours
FLSA- minimum wage laws, 8 hour workday, OT pay
NLRB- strengthening labor unions, got rid of yellow dog contracts
Farmers:
AAA- paid farmers to plant less, killed hogs, burnt crops while people in the city were hungry
fsa- took pics of farmers to show that they didn’t have it easy.
REA- brought electricity to the farms
SCDAA- educated farmers how to take better care of land
elderly:
SSA-
Homeowners:
HOLC- loans stretched house payments to 15-20-30 years
FHA- gave loans to people to buy or build homes
USHA- low income housing
Artists and muscians:
FEA FWP- gave musicians and artists money to make art/music
Native americans:
IRA- aloowed them to go back to teach tribal traditions
Banks:
EBRA- closed down banks for several days
banking act of 1935- ma
FDIC- insures money in the banks
Stock market- crash caused unemployment,
SEC- stop insider trading, stock pooling
Energy:
Rea- brought electricity to countryside
TVA- built dams to prevent flooding, set up recreational areas, then became electrical company
THREE R’s- Relief, reform, recovery
Relief: social security, job opportunities, relief for the needy
Reform- banks and stock market, gave people confidence in banks
Recovery- financial reform, all would eventually lead to coming out of the depression
7.Impact of new deal long term- FDIC - insurance on your money
farm subsidies fsa rea- helped pay for struggling farmers
holc- stretched out mortgage for people, allowing people to buy nicer homes
Unemployed: wpa, pwa, cwa, building schools, airports, buildings, hospitals. fera- welfare checks
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