FDR’s New Deal

What was it like when FDR Took Office . . .
• FDR Takes Office March 4, 1933 • 15 Million Unemployed • Poverty & Starvation • Promises a “New Deal” • 1st problem = banks

What was the Bank Crisis & Holiday?
• Banks were in a major crisis – Not enough money for demand • Bank Holiday = March 5-9, 1933 – Closed all banks – Financially sound reopened-others wait for gov’t assistance – Bank crisis over

What did the New Deal Do?
• March 9 – June 16: • 15 New Deal laws passed Congress dealing directly w/ economic depression • 3 Forms (3 R’s):
Relief ↓ Immediate Help Recovery ↓ Short Term Help Reform ↓ Long Term Changes

What were the Lasting Effects of the New Deal?
• Greatly Expanded the role of the Federal Government • Helped to end the Depression • Restored hope • Gave Americans new sense of entitlement – Social Security, Welfare, etc