Chapter 15: "The New Deal"
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KingsIslander on February 7, 2011
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41 terms
Terms | Definitions |
|---|---|
 FDR's Slogan | "The only thing we have to fear is fear itself." It encouraged hope for America even if it was false hope. |
| FDR and Polio | FDR contracted polio at age 39 but was able to regain use of his legs through rigorous physical therapy. |
| Brain Trusts | Established by Franklin Delano Roosevelt, they were the first major meetings with his supporters. |
| Hundred Days | The special session of Congress that Roosevelt called to launch his New Deal programs. The special session lasted about three months: 100 days. It was launched on March 9, 1933. |
| FDR's Focuses | They are agricultural recovery and support for the unemployed. |
| FDR and Supreme Court | He attempted to enlarge the Supreme Court in order to add justices that would support his ideas. |
| Banking Failures of 1933 | Because of the great depression, banks were unable to collect on loans, banks were then unable to return money to depositors leading to bank closures. FDR also called a special meeting of congress to deal with the weak American banking system. |
| Emergency Bank Act | Enacted on March 5, 1933 all banks were closed and FDR was given the power to reorganize the banking system. |
| New Deal | FDR's plan that was supposed to offer relief for the needy, stimulate economic recovery, and cause financial reform. He passed over 15 laws that expanded the government's role in the economy. |
| Emergency Banking Relief Act | The "solution" congress came up with on its special meeting, it permitted the Treasury Department to inspect banks and decide if they are insolvent, sound, or need improvement. It was the first act of FDR's hundred days and combined liquidated or opened banks. It leads to the public's confidence being revived. |
| Glass -Steagall Act | It established the Federal Deposit Insurance Corporation (FDIC) which insured individual bank accounts and regulates banking practices. |
| FDIC | The Federal Deposit Insurance Corporation which insures individual bank accounts and regulates banking practices. |
| Federal Securities Act | Enacted by Supreme Court Justice Louis Brandeis, it made all banks disclose all information on stocks, it was based on the phrase "sunlight is the best disinfectant." |
| Louis Brandeis | He coined the phrase "sunlight is the best disinfectant and enacted the Federal Securities Act. |
| Securities and Exchange Commission | It created a monthly watchdog for the stock exchange and securities that regulated the stock market. |
| FDR and Gold | FDR had gold removed which helped to raise prices and assist in U.S. exports. |
| 21st Amendment | Enacted by FDR to increase taxes, it repeals the 18th amendment (prohibition). |
| Fireside Chats | They were FDR's way of addressing the U.S. concerning the New Deal measures. They created assurance about the New Deal and banking which led to people depositing their money again. |
| First New Deal | Launched after FDR's emergency meeting of congress. It was the first phase of FDR's domestic reform program. It was aimed to provide recovery and relief through public works, business, agricultural regulation, and stabilization of prices. It led the economy to improve to a degree as unemployment decreased. |
| Criticisms of the New Deal | The New Deal faced criticism from conservatives for its large use of deficit spending, control of business, and socialization of the economy. It was attacked by liberals for not doing enough to help poor fix the economy, and being in favor of big business. |
| John Manard Keynes | An economist whom recommended deficit spending to end or moderate recessions. |
| Organizations Founded by the First New Deal | Agricultural Adjustment Administration, Federal Deposit Insurance Corporation (FDIC), Civilian Conservation Corps, and the National Recovery Administration (NRA). |
| CCC (1933) | Civilian Conservation Corps, it provided work for men ages 18-25 for projects such as road/bridge building and flood control. The work assigned was back-breaking. |
| PWA (1935) | Public Works Administration, it constructed roads, schools, dams, bridges and other projects to aid the economy by increasing jobs. |
| AAA (1933) | Encouraged farmers to decrease their production thereby increasing their profits. |
| NIRA | National Industrial Recovery Act, it was passed on the last day of the "Hundred Days" and served as a pillar of FDR's assistance program. It created the NRA which oversaw the creation of fair competition codes. |
| Goal of NIRA | To help business self-regulate which would help to aid employment. |
| NRA Codes | Abolished child labor, created minimum wages, capped hours for workers, set price limits, regulated production, and guaranteed workers rights to unionize. |
| Muscle Shoals | A dam that was built by the government during WWI, Calvin Coolidge (president) vetoed the plan to allow it to be leased out to the private sector. It became the center of the Tennessee Valley Authority. |
| TVA | Tennessee Valley Authority, headquartered in Muscle Shoals, it gave FDR a chance to do a large-scale experiment, this corporation built a series of dams to provide electricity and flood control, these dams created jobs and gave the environment a boost in the affected areas. |
| Schlechter vs. U.S. | A case where the supreme court ruled that the NIRA and AAA gave the President too much power (and are unconstitutional) and ruled that that power should be left up to the states. |
| FDR's Court-Packing Scheme | FDR tried to pass a bill that would add six justices to the supreme court, it was protested at first by the congress and press. In 1937, justices retire and FDR appoints seven new ones (even though his original plan was unsuccessful). The congress begins to favor the New Deal as it likes the idea of social security. |
| Court-Packing Bill | A bill proposed by FDR that would allow the president to appoint new justices if the old ones didn't retire by a certain age, and allow him to appoint six new judges. It failed, but another way for FDR to get his bills passed was found. |
| Charles Evans Hughes | The 11th Chief Justice of the Supreme Court, he often voted to uphold FDRs New Deal legislations, but he still found the NRA unconstitutional. |
| American Liberty League | An organization formed by conservative democrats, who think that the New Deal violates respect for personal property, and rights. |
| Father Charles Coughlin | A catholic priest who headed the National Union for Social Justice, he proposed to his listeners his idea of an ambiguous currency program, but was mostly popular by being anti-semetic. |
| National Union for Social Justice | An organization which denounced FDR's New Deal policies, it held weekly radio shows and discussed finance and politics. |
| Townsend Plan | Developed by Dr. Francis Townsend, it was a plan for the elderly, it was against FDR. |
| Share-Our-Wealth | A plan developed by Huey P. "Kingfish Long, it proposed to make every man a king by sharing the wealth (no one could have below $5,000 or above $50,000). |
| Huey P. "Kingfish" Long | Proposed the "share-our-wealth" program which lost its steam after he was assassinated. |
| Second New Deal | Was designed to offer sweeping economic changes to aid in relief, it pushed plans to aid particular groups, it finessed the U.S. tax system, some of its acts were determined unconstitutional in 1935, it was |
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