Monday:
Snowday
Tuesday:
More presentations:
Banks:
- banks were closing
- a year after the crash banks completely closed
- Emergency Banking Relief Act (EBRA): Roosevelt new deal program; passed five days talking office - march 1933; TR called it the banking holiday -> was successful, saved banks from completely closing down
- This was first act President TR did in his presidency
- provided insurance to people's money in the banks
- when banks reopened on March 13, 1933, many people put their money in the banks
- Federal Deposit Insurance Corporation (FDIC): Created by the Glass-Steagall Act in 1933; Insured people's money in banks up to $1000 (today up to $2500,000) -> people's faith in banks is going up again
- Banking Act of 1935: Made the FDIC a permanent agency within the US government (smaller act)
Stock market:
- Federal Securities Act: Made the stock market a safer place for people to invest their money; 1. Companies have to be honest 2. Prohibited deceit (can't take advantage of other people)
-> Securities and Exchange Commission: Forcing the rules of the Federal Securities Act
Energy:
- Tennessee Valley Authority (TVA): Created to generate electric power and control floods in seven states around Tennessee (Tennessee River Valley); still around today, largest public power company of America; everybody had to pay for it back then, but just people around Tennessee benefit it
- Rural Electrification Administration (REA): brought electricity to farms
Wednesday:
more presentations:
Musician/artists/native Americans/Writers:
- all those things are under WPA
- people quit buying art or music, because have to save money
- Out of the WPA there were many projects like the Federal Art Project (FAP), Federal Music Project (FMP)
- African American people (darker people) would loose their job easier
- New Deal helped the darker people less then the white people
- women suffered more, because they were expected to give up their job for men
- Indian Reorganization Act: abolished the Dawes act and allowed NA to manage and keep their own land; the act is still around
- Dawes Act: tried to Americanize the Native Americans -> nice idea which failed
3 R's - overall goal of the new deal:
- Relief for the needy
- Economic recovery
- Financial reform
Opponents of FDR:
- Some day that FDR went to far; spend to much money -> republicans
- others say he didn't do enough
- majority think he did the right things
- Republicans would say that he was a violation of checks and balances; that he creates a big government, makes the laisser faire style away; that he interfering and unconstitutional -> they thought he did illegal things; that he spending too much money -> putting United States in dept
Socialistic:
Father Charles Caughlin:
- radio speaker
- wanted that: 200$ a month that family would get
- wanted government to take over the banks
Franics Townshend:
- Thought that FDR didn't do enough for the elderly
- his idea led to social security
Senator Huey Long:
- his quote: every man a king
- tax the rich a 100% -> take it from the rich and give it to the poor
- shoot and killed by Carl Weiss (a bodyguard) in 1935
Thursday:
Test review:
- President Hoover: Laisser faire, patience, RFC(believed that you help people by giving jobs not just hand outs) , FFB (designed to get rid of overproduction -> didn't work well); Hawley-Snoot Tariff; (Tariff know), keep people buy things from america -> problem no world market, Revenue Act: rich people have to pay more taxes
- Question: What did the new deal for "unemployed": give some organisations
- FDR: some basic knowledge; he won election because of the promise of new deal
- Blue egal: paying workers decent prices; decent prices for consumer; we do our part
- Organisation: SSA, still around today, FDIC: bank insurance , Farm organisation: government help farmers because we all need food; SEC: regulated the stock market, still around today
- 7. New Deal Successful? It helped, but didn't got us out of the great depression
- Relief: help the people in need
Friday:
Test
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