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A-Level History America > (2d) Roosevelt and the First New Deal 1933-1935 > Flashcards

(2d) Roosevelt and the First New Deal 1933-1935 Flashcards

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1
Q

Who was Franklin Delano Roosevelt?

A
  • Elected as the Democrat President in 1932
  • He promised a New Deal to save the economy through Relief, Recovery, and Reform.
  • There was no blueprint for the New Deal.
  • He was committed to a balanced budget.
  • Used his ‘fireside chats’ to appeal to the population.
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2
Q

Roosevelt’s first 100 days

A
  • Saw more legislation passed than any previous time in history.
  • Transformed the role of the Federal Government and the people’s expectations of it.
  • The first 100 days of his presidency transformed the USA.
  • Roosevelt’s priority was to create economic improvement.
  • Emergency legislation passed, and alphabet agencies set up.
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3
Q

Emergency Relief:

May 1933: The Federal Emergency Relief Administration (FERA)

A
  • $500 million to divide between states to provide unemployment relief.
  • Half of it was to be given for outright relief.
  • Other half kept back - govt would pay each state $1 for every $3 it spent on relief.
  • Some states refused to comply - found expenditure on relief distasteful.
  • Was insufficient but set precedent for direct government relief.
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4
Q

Alphabet agencies overview

A
  • 16 created to deal with recovery and relief.

- Provided help for agriculture, industry, banking, and public works.

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5
Q

Alphabet agencies:

Agriculture overview

A
  • Given higher priority than industrial recovery.
  • 30% of the workforce worked in agriculture.
  • If agricultural workers could buy more, this would stimulate industry.
  • Aim was to make farming more efficient.
  • Land was taken out of production.
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6
Q

Alphabet Agencies:
Agriculture -
Agricultural Adjustment Agency, 1933

A
  • Paid farmers to produce less - bought land off farmers (tackle overproduction).
  • Removed 10.4 million acres in 1933.
  • Impact: Prices increased - Cotton rose from 6.5 cents (1932) to 10 cents (1933) per pound.
  • Issue: Slaughtered 6 million pigs.
  • Total farm income rose - $4.5 billion (1932) to $6.9 billion (1934)
  • AAA caused problems later on.
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7
Q

Alphabet Agencies:
Agriculture -
Tennessee Valley Authority, 1933

A
  • Set up to deal with underdevelopment and poverty in the Tennessee Valley.
  • It was to harness the power of the Tennessee river.
  • Constructed 20 large dams which provide hydroelectric power and stopped flooding.
  • Impact: Income rose by 200% between 1929 and 1949.
  • Impact: Modernised and Improved living standards.
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8
Q

Alphabet Agencies:
Banking and Finance -
Emergency Banking Relief Act, March 1933

A
  • 6th March: Banks closed for four days - Treasury Officials drafted emergency legislation.
  • Aim: Restore faith in the banking system.
  • RFC authorised to buy stock and take on debts of struggling banks.
  • FDR encouraged people to put money in the banks during his fireside chats.
    • By April, $1 billion had been returned to banks - crisis over.
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9
Q

Alphabet Agencies:
Banking and Finance -
Glass Steagall Act, 1933

A
  • Help banks long-term - prevent another collapse.
  • Banned saving banks from speculative investment.
  • Federal Reserve Board more ability to supervise + regulate.
  • Bank officials not allowed to loan from their own bank.
  • Federal Deposit Insurance Corporation: insured individual bank deposits of up to $2,500. State banks had to join the Federal Reserve system to qualify.
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10
Q

Alphabet Agencies:
Regulation of the stock exchange -
Truth-In-Securities Act, 1933

A
  • Brokers had to be honest and offer clients realistic info about the securities they were selling.
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11
Q

Alphabet Agencies:
Regulation of the stock exchange -
Securities Act, 1934

A
  • Set up new agency - Security Exchange Commission.
  • Oversee stock market activities - prevent fraudulent activities.
    • Eg, insider dealing in the Bull Pool.
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12
Q

Alphabet Agencies:

Economy Act, 1933

A
  • FDR was a conservative on economic matters.
  • Believed in balanced budget.
  • Sought to make all recovery plans self-financing.
  • Economy act slashed govt salaries and war veterans’ pensions.
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13
Q

Alphabet Agencies:

Industrial Recovery Overview

A
  • Economy grew 10% per year - 1933-1936.
    • Unemployment still as high as 14%.
  • No consensus on how to save industry.
  • FDR wanted to save Capitalism.
  • FDR wanted to get people back to work to increase consumer demand.
  • The National Industry Recovery Act (1933) had two parts.
    • NRA + PWA
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14
Q

Alphabet Agencies:
Industrial Recovery -
National Recovery Administration, 1934

A
  • Set up to oversee industrial recovery.
  • Offered something to everyone:
    • Powerful businessmen benefitted from the suspension of antitrust legislation.
  • Firms to agree to codes of practice - regulate unfair competition.
  • Agree on minimum wages and working conditions.
  • Issues: - Many codes were unworkable
    - It helped larger firms
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15
Q

Alphabet Agencies:
Industrial Recovery -
Public Works Administration

A
  • Funded with $3.3 billion.
  • Increase public spending to stimulate the economy.
  • Put hundreds of thousands of people back to work.
  • Built nearly 13,000 school and 50,000 miles of road.
  • Pumped billions of dollars into the economy.
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16
Q

Alphabet Agencies:
Industrial Recovery/Relief -
Civil Works Administration, November 1933

A
  • Aim was to create employment.
  • $400 million grant from the PWA to provide relief to the unemployed during the winter of 1933/1934.
  • Put 4 million back to work.
  • Closed down in March 1934 - unemployment persisted.
17
Q

Alphabet Agencies:
Relief -
Civilian Conservation Corps, 1933

A
  • Created to halt youth unemployment.
  • For young men - 17-24
  • Tasks set out by Departments of the Interior and Agriculture.
  • Hired 500,000 by 1935
  • Planted 1.3 billion trees.
  • Valuable experience of comradeship.
18
Q

Alphabet Agencies:
Native Americans -
Indian Reorganisation Act, 1934

A
  • Abolished assimilation and other aspects of the Dawes Severalty Act.
  • Recognised and encouraged Native american culture,
  • Tribes reorganised into self governing bodies - own legal system and police.
  • Could control land sales.
  • Collier tried to ensure they could take advantage of New Deal agencies.
  • Still remained among the poorest in the USA.
19
Q

Alphabet Agencies:
Housing -
The Home Owners’ Refinancing Corporation, June 1933

A

Helped homeowners in difficulties by offering new mortgages at low rates of interest over long periods of time.

20
Q

Alphabet Agencies:
Housing -
Federal Housing Administration, June 1934

A
  • Federal Insurance to protect ability to repay low interest, long term mortgages.
  • Attempt to stimulate building economy.
  • Loans solely for newly purchased single-family homes.
  • Didn’t help poverty-stricken cities.
  • Benefitted the white middle class - inadvertently encouraged movement to suburbs.
  • Less than 25% of urban families could take out a mortgage (65% of new houses cost more than $4,000).
21
Q

Opposition to the New Deal:

The Right

A
  • Believed it was too radical.
  • Too much state intervention, and believed taxes were too high.
  • Liberty League formed in 1934 - Republicans and conservative Democrats who promoted unregulated private enterprise.
    • Membership = 125,000 in June 1936 (less significant after election)
22
Q

Opposition to the New Deal:

The Left

A
  • Didn’t think the New Deal had done enough.
  • End Poverty in California (EPIC) - idea of Upton Sinclair.
  • Also ‘Share Our Wealth’ programme - Huey Long’s radical scheme.
  • Thunder on the Left - More radical political developments.
  • Old Age Revolving Pensions Inc.
  • Father Charles Coughlin
23
Q 
Opposition to the New Deal:
Huey Long (The Left)
A
  • Governor of Louisiana - governed like a dictator with bully boy tactics.
  • Ordered massive public work schemes:
    • New public buildings and an airport in New Orleans.
    • 3,000 miles of paved highways built (1928-1933).
  • Tempted to join other radicals for 1936 election.
  • Gunned down in 1935 - was FDR responsible?!?!?
24
Q

Opposition to the New Deal:

End Poverty in California (EPIC) - (The Left)

A

1 - Sinclair: Unemployed should work in state-run co-operatives.
2 - Paid in currency to be spent in other co-operatives.

25
Q

Opposition to the New Deal:

Share Our Wealth programme (The Left)

A
  • February 1934, by Huey Long.
  • All private fortunes over $3 million should be confiscated.
  • Every family to be given enough to buy a house, a radio, and an car.
  • Advocated old-age pensions and minimum wages (every family guaranteed $2k-$3k a year).
  • Free college education.
  • Very popular - 4.6 million members.
26
Q

Opposition to the New Deal:

Thunder on the Left

A
  • Various political developments that made FDR’s New Deal go further left (1935-1936).
  • Governor Olson - State control of idle factories to put unemployed to work, and nationalisation of public utilities.
27
Q

Opposition to the New Deal:

Old Age Revolving Pensions, Inc. (The Left)

A
  • Francis Townsend advocated pensions with a difference.
  • Encourage retirement at 60 so more jobs for the young.
  • Over 60s: $200 a month but no saving - spend to boost consumption.
  • Lots of support - 500k members - but impractical (army of bureaucrats would have been needed and it would have cost too much)
28
Q

Opposition to the New Deal:

Father Charles Coughlin (The Left)

A
  • A priest with influential radio show.
  • Audience of 30-40 million - listeners contributed $5 million per year to his Detroit parish.
  • 1934: Founded the National Union for Social Justice which advocated for the redistribution of wealth.
  • Became very anti-semitic - lost him support.
29
Q

Roosevelt introduced a ‘___ ____’ to combat the problems facing the USA during the __________ - help recovery and restore _____ in the _______.

A

Roosevelt introduced a ‘New Deal’ to combat the problems facing the USA during the Depression - help recovery and restore faith in the economy.

30
Q

Roosevelt attracted _________ from both the ___ and right of politics.

A

Roosevelt attracted hostility from both the left and right of politics.

31
Q

The 19__ presidential victory for FDR showed the public ________ his measures.

A

The 1936 presidential victory for FDR showed the public endorsed his measures.

A-Level History America (28 decks)

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