1st New Deal

Question 1

What were Roosevelt’s main aims?

Answer 1

Stabilise banks
Decrease unemployment
Uplift prohibition law
Support industries and farmers

Question 2

How did Roosevelt stabilise the banks?

Answer 2

-March 6th, 1933
-5,000 banks were shutdown after Wall Street Crash (confidence lost)
-Closed them for 4 days for inspection to see if they were solvent
-Government put money towards banks
-People eventually put in $1billion worth of money (confidence restored)

Question 3

What was the Economy Act?

Answer 3

-March 20th, 1933
-15% pay cut in Government and Armed forces wages to provide money for New Deal projects ($1billion)

Question 4

What is the Civilian Conservation Corps? (CCC)

Answer 4

-March 31st, 1933
-Employed 18-25 year old previously unemployed civilians
-Cleared pathways, planted trees
-Mosquito project ended Malaria

Question 5

What is the Civil Workers Administration? (CWA)

Answer 5

-November 8th, 1933
-2million men provided temporary jobs building schools, airports, public toilets

Question 6

What is the Federal Emergency Recovery Agency? (FERA)

Answer 6

-May 12th, 1933
-Gave economic aid
-Put money towards homelessness (Soup kitchens, clothing, blankets)

Question 7

How did Roosevelt uplift the Prohibition law?

Answer 7

-March 22nd, 1933
-Beer Act legalised the purchasing of alcohol
-Government benefited from the taxation of alcohol

Question 8

What is the National Recovery Administration? (NRA)

Answer 8

-June 16th, 1933
-Wanted to eliminate ‘cut throat competition’
-Encouraged employees and employers to code for a fair workplace, wages and prices
-Was voluntary so many did not participate in these practices

Question 9

What is the Home Owner Loan Corporation? (HOLC)

Answer 9

-June 13th, 1933
-Provided loans for those struggling with mortgages
-Operated by purchasing mortgages from private lenders and issuing new mortgages to borrowers
-300,000 home buyers were benefited in the 1st year

Question 10

What is the Tennessee Valley Authority? (TVA)

Answer 10

-May 18th, 1933
-Provided work building dams and electrical power stations

Question 11

What is the Farm Credit Act? (FCA)

Answer 11

-Helped farmers recover from the Dust Bowl
-Helped farmers refinance mortgages over a longer time at below market interest rates

Question 12

What is the Agricultural Adjustment Act? (AAA)

Answer 12

-Too much supply over demand and prices were low for farmers so government payed them to destroy food
-Established higher demand rather than supply and farmers prices were higher
-Criticism due to hunger crisis in USA during Great Depression
-Doubled farmers income 1934-1939