New Deal Programs
Glass-Stegall Act of 1933
•Helped rebuild trust in banks & prevent bank runs
•Still exists today; protects the savings accounts of individual bank depositors
Federal Deposit Insurance Corporation (FDIC)
•Protects investors in the stock market in ways like how the FDIC insures bank depositors
•Oversees the stock market today, regulating stock-trading procedures and managing the nation's economic growth
Security and Exchange Commission (SEC)
the 1932 presidential candidate, known for his "can-do" attitude and optimism
Franklin Delano Roosevelt (FDR)
radio broadcasts that were intended to bring hope to those suffering in the Great Depression
fireside chats
•A law that provided old-age insurance, unemployment insurance, and financial assistance to the disabled
+Pension fund
+Funded by tax-paying employees and employers
•Issue: excluded the self-employed, farmers, and domestic workers, payments were small (between $20-30 a month)
Social Security Act
•Provided outdoor jobs to young men 17-24
+Soil-erosion, flood-control projects
+developed many state parks by paving roads, building cabins, planting trees
•Lowered unemployment & urban crime rates
Civilian Conservation Corps (CCC)
First Lady, known for reshaping the role of first lady into an activist
Eleanor Roosevelt
a union that included industries with a large percentage of minority workers
Congress of Industrial Organizations (CIO)
•Direct cash relief, work projects to employ people, and rural relief for farmers
•Changed the relationship of government intervention in times of crisis
Federal Emergency Relief Administration (FERA)
•Provided jobs with small construction projects in communities
•Funded projects that employed writers, teachers, musicians, and artists
•National Youth Association (NYA)
Works Progress Administration (WPA)
a group of university professors that advised FDR on how to repair the economy
brain trust
This act resulted in minimum wage, a 40 hour work week, and abolished child labor
Fair Labor Standards Act
•Utilized two programs to experiment with centralized economic planning:
+Public Works Administration (PWA)
+National Recovery Administration (NRA)
National Industrial Recovery Act (NIRA)
•Provided jobs for the unemployed
•Created new orders for factories in the steel, glass, rubber, & cement industry
•Helped individual contractors hire and pay their own workers
Public Works Administration (PWA)
a critic of the New Deal who was known for his "Share Our Wealth" plan that would give each household a minimum of a 5,000 income
Huey Long
peaceful, effective protests where workers would sit on the job, shutting down production; first one happened at General Motors (Flint, MI)
sit-down strikes
•Established fair business practices to set standards for workers and business owners to avoid labor strikes
•Main goals were to end child labor and give labor unions the right to organize and negotiate contracts
•Issues: small business owners claimed the NRA encouraged monopolies; labor leaders claimed employers were still discouraging unions, & the cost of implementing this program was causing a rise of price on goods
•DEEMED UNCONSTITUTIONAL IN 1935 BECAUSE IT GAVE THE PRESIDENT TOO MUCH LEGISLATIVE POWER
National Recovery Administration (NRA)
•Paid subsidies to farmers who voluntarily did not farm on parts of their land & offered loans to farmers who stored their crops in government warehouses
+planned scarcity
•Funded by taxing farm products
•Issue: sharecroppers were often evicted by landlords who wanted to take land out of production
Agricultural Adjustment Act (AAA)
Known as the Woman Behind the New Deal, Secretary of Labor under FDR, Department of Labor in DC is named after her today
Frances Perkins
Under this plan, the Supreme Court would gain six new members (making the total 15 members)
Court-Packing Plan