Sonny An

US History Honors January 12th, 2012

Chapter 14, Section 1 Textbook Notes Section 1: FDR and the First New Deal    May 27th, 1938: Eleanor Roosevelt visits Arthurdale, West Virginia, a resettlement community she helped establish 5 years ago. March 17th, 1905: Franklin and Eleanor joined in marriage. o o Eleanor’s volunteer work helped raise Franklin’s awareness of social injustices. “If you have spent two years in bed trying to wiggle your big toe, everything else seems easy.” – Franklin D. Roosevelt, in regards to polio and its effects on him as a person  February 1933: Michigan governor declares a banking moratorium (a temporary shutdown of operations), closing all state banks. o o  In theory: Rapid withdrawals of cash  moratorium declared  banks replenish their cash reserves. However, the opposite happened: People throughout the nation began to panic. FDR addresses the banking issue: Banks in sound financial shape would reopen and accept deposits. o o   People, who were hiding money in their homes, began to make deposits. Deposits > withdrawals = banking crisis over. 1921: FDR suffered an attack of poliomyelitis, leaving his legs completely paralyzed.

The Three R’s: Relief for the unemployed, recovery measures to stimulate the economy, and reform laws to help lessen the threat of another economic disaster. FERA (Federal Emergency Relief Administration), led by Harry Hopkins. o o o $500 million to distribute to state and local relief agencies. “People don’t eat in the long run – they [have to] eat every day.” – Hopkins Dole: Government charity, broke down peoples’ self-respect and will to do work. Labor Department to recruit workers, War Department to run the camps, Interior Department to supervise work projects. o o $30 a month for workers, however, excluded women and limited # of minorities. First recruits were mostly the veterans of the “bonus army.”

CCC (Civilian Conservation Corps): “a mass exodus of unemployed to the forests.” o

PWA (Public Works Administration): $3.3 billion to carry out public projects intended to stimulate industry and economic growth.

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Sonny An
US History Honors January 12th, 2012 

NRA (National Recovery Administration): Relaxed antitrust laws, however, collaborated with business leaders to provide for the workers. o Allowed workers to organize labor unions.

AAA (Agricultural Adjustment Administration): Paid farmers a subsidy (financial assistance) to reduce the production of crops and # of animals raised. o Intent was to lower production  higher demand  raised prices.

TVA (Tennessee Valley Authority): Generate electricity (dams) + enrich the land + increase tourism (fish-filled lakes) = jobs. o Unpopular due to flooding of farmers’ land and increased competition for business leaders.

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Truth-in-Securities Act: Eliminate fraud in stock market. Glass-Steagall Banking Act: Prohibits banks from investing savings deposits in the stock market. o Federal Deposit Insurance Corporation (FDIC): Insure bank deposits in all member banks.

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March 9th to June 16th: The Hundred Days: 15 bills proposed by FDR passed with only minor changes. Fireside chats: FDR highly skilled in handling the media, open to reporters’ questions. Eleanor’s influence and contributions: o o Joined Women’s Trade Union League and League of Women Voters. Exposed Roosevelt, reflected by his political actions to combat social injustices.

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