Roosevelt and the 1st New Deal (just from PLC)

Question 1

The years of the 1st New Deal

Answer 1

1933-1935

Question 2

When was most legislation passed?

Answer 2

The first 100 days after Roosevelt’s inauguration.

Question 3

Emergency Relief

Answer 3

• Set up the Federal Emergency Relief Administration (May 1933)
  
  • Funds of $500 million to alleviate unemployment
  • Over 1.5 million adults taught to read and write.
• Civilian Conservation Corps (1933)
  
  • Created to halt unemployment in young men.
  • Planted 1.3 billion trees and installed 65,000 miles of telephone wire.
• Civil Works Administration (November 1933)
  
  • $400 million to provide unemployment relief during the winter.
  • Put 4 million to work.

Question 4

Public Works plans

Answer 4

• Public Works Administration:
  
  • Increased public spending to stimulate economy. - $3.3 billion
  • Put hundreds of thousands to work.
  • Billions of dollars pumped into the economy.
  • Built 13,000 schools
  • Laid 50,000 miles of roads
  • Enabled dams and national parks to be created

Question 5

The different Alphabet Agencies

Answer 5

• Agricultural Adjustment Act
• National Recovery Administration
• Civilian Conservation Corps
• Public Works Administration
• Civil Works Administration
• Federal Emergency Relief Administration
• Tennessee Valley Authority

Question 6

Financial System Reform

EBRA

Answer 6

• Emergency Banking Relief Act:
  
  • 06/03/1933: All banks were closed and assessed for 4 days. The banks that could be saved were brought under govt control.
  • Supposed to restore faith in the banking system
  • The RFC bought banks stock to support them.
  • By April, $1 billion had been returned to banks - faith was restored thanks to fireside chats.

Question 7

Financial System Reform

Glass-Steagall Act

Answer 7

• Commercial banks that relied on small scale depositors were BANNED from investment banking that fuelled the 1920s speculation.
• Bank officials not allowed to take loans from their own banks.
• Open market operations centralised. Transferred from Federal Reserve Banks to the Fed Reserve Board in Washington.

Question 8

Help for Farmers

Answer 8

• Agricultural Adjustment Act (May 1933)
  
  • Worked effectively in dealing with overproduction.
  • Subsidised farmers to reduce acreage - between ‘33 and ‘35, 76 million acres taken out of production.
  • By Jan 1935, govt purchased 8.3 million head of cattle.
  • FARM INCOME ROSE = ‘32 - $4.5 billion
    ‘35 - $6.9 billion
• Tennessee Valley Authority (May 1933)
  
  • Dealt with poverty in the valley
  • Constructed 20 huge dams which provided HEP
  • Living standards improved.
  • Residents’ income rose 200% (1929-1949)