Ap U.S. History-Chapter35

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Julianne Groshon
AP U.S. History
Chapter 36 - The Great Depression and the New Deal
I. FDR: A Politician in a Wheelchair
a. 1932 - voters still had not seen any economic improvement b. President Herbert Hoover nominated again - campaigned saying his policies prevented Great Depression from being worse than it was c. Democrats nominated Franklin Delano Roosevelt - fifth cousin of Theodore Roosevelt and had followed in his footsteps i. FDR suave and conciliatory

ii. FDR stricken with polio in 1921 - his wife, Eleanor, became political partner 1. Eleanor - most active First Lady ever
iii. Lost a friend in 1932 - he and Al Smith both sought Democratic nomination II. Presidential Hopefuls of 1932
d. Roosevelt seized opportunity to prove that he was not an invalid - campaign featured attack on Hoover’s spending e. Democrats found expression in tune “Happy Days Are Here Again” III. The Humiliation of Hoover in 1932

f. Hoover had been swept into presidential office in 1928 - in 1932, swept out with equal force (defeated 472 to 59) g. Transition of Black vote from Republican to Democratic Party h. During lame-duck period, Hoover tried to initiate some of Roosevelt’s plans - met by stubbornness and resistance i. Hooverites would accuse FDR of letting depression worsen so that he could emerge as shining savior IV. FDR and the Three R’s: Relief, Recovery, and Reform j. FDR asserted, “The only thing we have to fear is fear itself.” k. Called for nationwide bank holiday to eliminate paranoid bank withdrawals - commenced with his Three R’s l. Democratic-controlled Congress willing to do as FDR said - first Hundred Days of FDR’s administration filled with more legislative activity than ever before iv. New Deal Reforms had been adopted by European nations a decade before V. Roosevelt Tackles Money and Banking

m. Emergency Banking Relief Act of 1933 passed first - a one week “bank holiday” so everyone would calm down and stop running on banks n. First of his thirty famous “Fireside Chats” with America o. “Hundred Days Congress” passed Glass-Steagall Banking Reform Act -provided Federal Deposit Insurance Corporation (FDIC) - insured individual deposits up to $5000 - eliminating epidemic of bank failure; restoring faith to banks p. Took nation off gold standard - achieved controlled inflation by ordering Congress to buy gold at higher prices v. February 1934 - U.S. would pay foreign gold at rate of one ounce of gold per every $35 due VI. Creating Jobs for the Jobless

q. Roosevelt had no qualms about using federal money to assist the unemployed - created Civilian Conservation Corps (CCC) - provided employment in fresh-air government camps for 3 million uniformed young men vi. Reforested areas, fought fires, drained swamps, controlled floods vii. Critics accused FDR of militarizing the youths and acting as dictator r. Federal Emergency Relief Act - immediate relief rather than long-term alleviation - (FERA) headed by zealous Harry L. Hopkins s. Agricultural Adjustment Act (AAA) made available millions of dollars to help farmers meet mortgages t. Home Owners’ Loan Corporation (HOLC) refinanced mortgages on non-farm homes - bolted down loyalties of middle class, Democratic homeowners u. Civil Works Administration (CWA) designed to provide temporary jobs during the winter emergency viii. Tasks rather frivolous (“boondoggling”) - designed for sole purpose of making jobs v. New Deal had its commentators:

ix. Father Charles Coughlin - Catholic priest in Michigan - at first was with FDR then disliked the New Deal - voiced his opinions on radio x. Senator Huey P. Long of Louisiana popular for “Share the Wealth” program - each family was to receive $5000, from the rich - math of plan...
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