Franklin D. Roosevelt

The Forgotten ManIt is said that Napoleon lost the Battle of Waterloo because he forgot his infantry. He staked too much upon the more spectacular but less substantial cavalry.

Roosevelt Inaugural Language gives a hint of his direction

Must (9) Action (7) Leadership (7) Fail/Failure (6) Vision (5) Restore (5) Accomplish (3)

Roosevelt’s New Deal 1932 Nomination Acceptance Speech

“I pledge you, I pledge myself, to a new deal for the American people.”

Not a concrete plan, but rather an ideology

New Deal 3 Rs Relief – for people out of work

Food Shelter Medicine / Healthcare

Recovery – for business and the economy as a whole Employment Business Regulation

Reform – Economic Institutions Banking Practices Stock Market Practices

The Brains Trust Refers to the group of academic

advisers that FDR gathered to assist him during the 1932 presidential campaign

Initially, the term applied to three Columbia University professors

Basically, a group of special advisors Helped FDR develop an economic plan

whose programs became the backbone of the New Deal

The First Hundred Days Bank Holiday

Banks were closed on March 6, 1933 Provided government the opportunity to

reorganize banks and provide sense of stability

First Fireside Chat Roosevelt made prolific use of the radio to

get his message directly to the people, in language they could understand

Financial Recovery Programs Emergency Banking Relief Act – authorized

government to examine banks during Holiday and determine those that could reopen

Federal Deposit Insurance Corporation (FDIC) – guaranteed individual bank deposits up to $5,000

Home Owners Loan Corporation (HOLC) – provided refinancing of small homes to prevent foreclosures

Farm Credit Administration – low interest farm loans and mortgages for farmers

Federal Securities Act of 1933 Often referred to as the "truth in

securities" law, the Securities Act of 1933 had two basic objectives: require that investors receive financial

and other significant information concerning securities being offered for public sale; and

prohibit deceit, misrepresentations, and other fraud in the sale of securities.

Philosophy of Roosevelt’s New Deal Programs "Give a man a dole, and you save his

body and destroy his spirit. Give him a job and you save both body and spirit.“ – Harry Hopkins

How does this idea inform the types of recovery programs he will implement?

New Deal Programs Federal Emergency Relief Act (FERA)

Grants to states for relief projects. Unemployment has reached 14 million-over one quarter of the nation's work force

Agricultural Adjustment Act (AAA) Sets prices for produce Provides subsidies for curtailing production

of surplus goods

New Deal Programs Tennessee Valley Authority (TVA)

Construct dams and power plants along the Tennessee Valley Electricity will go to residents, many of whom

lacked it previously Attract business Provide efficiencies for farmers and residents

Provide flood control and make navigation easier

Fertilizer will be sold(farm land was badly overused and eroded)

National Industrial Recovery Act (NIRA)

Public Works Administration (PWA) Several billion dollars to be spent on the

construction of public works as a means of Providing employment Stabilizing purchasing power Improving public welfare Contributing to a revival of American

industry

National Industrial Recovery Act (cont’d)

National Recovery Administration (NRA) Series of fair-practice codes

Eliminate unfair trade practices Reduce unemployment Establish minimum wages and maximum

hours Guarantee the right of labor to bargain

collectively

New Deal Programs Reforestation Relief Act

Establishes the Civilian Conservation Corps (CCC) Provides work immediately for 250,000

young men (18-25) in reforestation, road construction and developing national parks

Proved especially important in states hit hard by the Dust Bowl

Repeal of Prohibition Campaign promise Opposed legislation, and saw selling

alcohol as a good source of tax revenue Twenty-first Amendment officially

repealed Prohibition in 1933 Roosevelt was a big drinker, which may

have also motivated his desire for repeal

Essential Question Based upon the types of programs

Roosevelt implemented, what can we tell about his view of the role of government during a time of national crisis?