2/12 and 2/13- finished presentations
Unemployed/ Consumers-
- NIRA(National Industrial Recovery Act)
- Enacted in June 1933.
- Labor law/ consumer law- passed by congress to authorize the current president to regulate the industry for fair wages/ prices that help stimulate economic recovery.
- Was not successful- NIRA was declared unconstitutional in 1935. Ended in May 1935.
Banks-
- FDIC(Federal Deposit insurance corporation)
- Created in 1933 in response to sthousands of bank failures during 1920's and 1930's.
- The Banking Act of 1933(created by FDIC) signed by Roosevelt.
- FDIC preserves and promotes public confidence int e U.S. financial system.
- By insuring deposits in banks for at least $250,000.
- Was successful- it maintained public confidence in the banking system.
Farmers-
- AAA(Agricultural Adjustment Act)
- A law that started May 12, 1933. Declared unconstitutional but passed again as a law in 1937.
- Payed farmers to cut back on crop production so crop prices would rise and income for farmers wouldn't be as low.
- Controlled the supply of seven basic crops.
- Was not very efficient but did raise prices.
- After WW1 started to increase crop production.
- Called Farm Relief Bill.
NIRA and AAA were both declared unconstitutional. FDR proposed to add 6 more people to the Supreme Court. Did not pass have always had 9 Justices.
- Reasons for Opposition to FDR and the New Deal-
- Created a very powerful president that led Congress, this was a vilation of checks and balances.
- It was a radical departure from Laissez Faire ideals. Created "big government".
- Some acts were unconstitutional.
- Heavy debt burden-the United States was engaged in deficit spending and this was unhelathiy for the economy in the long run.
- Opponents
- Some say FDR went too far. Spent too much money.
- Others say he didn't do enough. He needed to do more.
- What does that probably say about what FDR did as President?- likely he was doing just enough for our country.
- Share-Our-Wealth- Senator Huey Long
- "Every man a King"
2/14- 2/16- no school
Comments