The New Deal

1. Revolution

1.1. FDR wanted change and started off by dealing with the banking situation.

1.2. Banking Holiday: Banks shut down // gov. inspection. Allowed to open when moral was returned.

1.3. Security Exchange Commission; stock market reform.

1.4. Gold Standard; gov. could print more money than more gold.

1.5. Kenynesian Economics; causing dollar value to lower.

2. Specific Pieces of Legislation

2.1. National Industrial Recovery Act(NIRA), and National Recovery Admin (NRA); established child labour and shortened business.

2.2. Liberty League; claiming that Fed. Gov. was exceeding its authority by interfering w/ state jurisdiction.

2.3. TVA; used to promote hydroelectric power, control flooding, lower rates, private industry, manuf. fertilizr.

2.4. AAA; restore farmers purchasing power and restore the family farm. Had farmers cut back on crop production by paying them equivalent SUBSIDES.

2.5. Food Stamp Act of 1939; gave away surplus food to poor & small farmers a market.

2.6. CCC; set work for young men 18-25 in all areas of reforestation.

2.7. NYA; created young in urban area

2.8. FERA; aimed for older workers, but unemployment was still at 6 million.

2.9. National Labour Relations Act; it legitimized unions and labour tactics such as collective bargaining & outlawed blacklists

2.10. Social Security Act // Welfare Act; people feared this because of old age & pensions

2.11. Election of 1940; FDR broke with tradtion & ran a third time

2.12. Wendell Wilkie - Big issue w/ American support of the allies. Now embroiled with WWII v. Nazi Ger.

2.13. Isolationist; parties approved of New Deal legislation

3. 3rd Revolution

3.1. Arsenal of Democracy; New Deal helped stimulate economy, but only WWII problems.