FDR
What famous quote did FDR say during his inauguration?
“The only thing we have to fear is fear itself”
What New Deal Agency was created to monitor labor unions and ensure fair worker management?
National Labor Relations Board
What is deficit spending?
When the government spends more than it collects in taxes
Why did citizens distrust banks?
Because banks were investing deposited money into stocks and often lost money people deposited
Who was a prominent critic of the New Deal that was assassinated?
Huey Long
How did FDR communicate with the public?
With his Fireside Chats
What New Deal Agency built dams and produces electricity?
Tennessee Valley Authority
FDR believed what about the national deficit?
It would be temporary
How did FDR regain the public's trust in banks?
By founding the Federal Deposit Insurance Company to insure deposited money
What is the main criticism of the New Deal?
Increased government intervention in the economy can be considered unconstitutional
What did FDR do as soon as he entered office?
Declared a federal banking holiday and closed all banks
What was the minimum wage established by the Fair Labor Standards Act?
40 cents
What are the three R’s of the New Deal?
Relief, Recovery, and Reform
Why were banks failing after the Great Depression?
Because people were constantly withdrawing all of their money so the banks couldn’t lose it
What is a lasting consequence of the New Deal?
The government never paid off the deficit and we are still in debt today
How many acts did FDR pass during his first 100 days in office?
15
What was the first New Deal act?
Emergency Banking Relief Act
What administration controlled by the government provided jobs for skilled workers?
Public Works Administration
Why did FDR talk about the banks during his fireside chats?
Because the average citizen wouldn’t understand the technical language used in the new acts being passed, and FDR wanted the public to regain their trust in banks and understand how the banks worked
What was a negative impact of the Home Owners Loan Corporation?
When assessing credit worthiness, certain areas were designated as mortgage security risks. These places were most often areas with high African American populations, and contributed to redlining and racial segregation
What act proposed by FDR was struck down by the Supreme Court?
National Industrial Recovery Act
What did the Agricultural Adjustment Administration do?
Paid farmers to not plant crops on fields and burn their crops to inflate the prices of agricultural goods
What did the government do starting in 1935?
The Supreme Court started attacking FDR’s New Deal programs and struck several down.
What was the original purpose of the Home Owners Loan Corporation?
To give loans to citizens to prevent foreclosure on their homes and to refinance their mortgages for better interest rates
FDR did what in a futile attempt to regain control of the Supreme Court?
He created a plan to pack the Supreme Court with judges who supported the New Deal