The New Deal: Forging a Path Out of the Great Depression
The New Deal, implemented during the Great Depression in the 1930s by President Roosevelt, aimed to provide relief, create jobs, and stimulate economic recovery through a series of government-run programs. The era also saw changes in the inauguration date to reduce the time a lame-duck president remained in office, renewing public confidence and hope in the nation's future.
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Chapter 23 The New Deal Section 1 Forging a New Deal
Lame Duck Presidency United States was waiting for the New Deal . Why? To get the United States out of the Great Depression Election of 1932 took place in November while the Inauguration of FDR took place on March 4th, 1933 Leaves a long period of time where the current president is leaving office Hoover becomes a Lame Duck President Leader whose authority is weakened because he or she is about to leave office At the same time, the depression worsened
Congress prompted to pass the 20th Amendment- Ratified in 1933 Nicknamed Lame Duck amendment changed the date of the inaugural to January 20th. Shortened the length of a Lame Duck presidency
Restoring the Nations Hope Second Bonus March in May 1933 Public relations plus for FDR because he provided campsite and offered veterans jobs with CCC Sent Eleanor Roosevelt to campsite- Hoover sent the army, Roosevelt sent his wife Makes multiple statements to renew public confidence and faith First Inaugural Address, March 4, 1933 The only thing we have to fear is fear itself . Following Sunday FDR delivered his first Fireside chat over the radio.
New Deal Definition: vast collection of government run programs to combat problems caused by the Great Depression. A bold radical experiment filled with optimism and uncertainty. Process for New Deal Create a program ..try it out ..if it fails admit it ..then try another program.
3 Rs of the New Deal Relief (immediate goal) programs for those who were suffering right now. Recovery (short term goals) programs to create jobs . help stimulate the economy. Reform (long term goals) programs/measures to insure against future depressions.
The First Hundred Days March thru early June FDR pushed program after program through Congress to (1) provide relief, (2) create jobs, and (3) stimulate economic recovery.
Stabilizing Financial Institutions FDR s first step as President was to restore the public s confidence in the nation s banking system. March 5th he ordered all banks to close for the next four days He then pushed congress to pass the Emergency Banking Act which authorized government to inspect the financial health of all banks.
Inspectors found that most banks were healthy and two-thirds re-opened by March 15th. After the brief Bank Holiday American regained confidence in the banking system Federal Deposit Insurance Corporation (FDIC) was established that insured bank deposits up to $5,000 dollars. In present, up to $250,000
