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Franklin D. Roosevelt’s Rise to Presidency in 1932
Rise in Politics
• Privileged upbringing• Studied law at Harvard• NY state senator• Assistant Sec. of US Navy• Struck with polio but gained popularity-kept
political correspondence from bed• Restructured Democratic Party, promoted public
works, social security, and unemployment benefits
Election of 1932
• Franklin Roosevelt (FDR) elected President• Offered Americans a “New Deal”
1st 100 days
• Declared a Bank Holiday: temporarily closed banks to prevent withdrawals. Banks opened as government decided they were stable enough
• Emergency banking Relief Act to stabilize banks and Economy Act to balance Federal Budget
NIRA
• National Industrial Recovery Act: $3 billion for public works to create jobs and set guidelines for fair working conditions
FERA
• Federal Emergency Relief Administration: direct relief to unemployed
AAA
• Agricultural Adjustment Act: encouraged farmers to reduce production of crops, paid farmers to destroy crops or livestock or to not farm at all
TVA
• Tennessee Valley Authority: Build Dams along Tennessee River to create cheap electricity
Fireside Chats
• FDR held informal talks to Americans via Public Radio to encourage them and give them hope
CCC
• Civilian Conservation Corps: hired young men to work on National parks and provided them with necessities, paid them a monthly wage (which was usually sent home to help their families)
Criticism of the New Deal
• Minorities and elderly did not feel like they were gaining support
• American Liberty League thought FDR was a socialist trying to Sovietize America with government created jobs
Union Party
• Formed to Challenge FDR’s policies• Francis Townsend: FDR neglects elderly• Huey Long: FDR is Pro Business• Coughlin: Challenged FDR in the 1936
election-he lost and FDR becomes Pres. for 2nd term
2nd hundred days
• More $$$ for social programs to help those in poverty
• Some begin to question the constitutionality of FDR and the Democratic Party’s policies
• The Supreme Court rules FDR’s NIRA unconstitutional and many of the programs are stopped
FDR’s Legacy
• Women in politics: Frances Perkins-Secretary of Labor, Mary McLeod Bethune-National Youth Administration director
The Legacy continues
• Social Security Act: Workers save for pension to be accessed in later years
• FDIC: Federal Deposit Insurance Corporation-insures $$$$ deposited in banks