Battling the Great Depression with FDR's New Deal

Topics: Great Depression, New Deal, Social Security Pages: 2 (517 words) Published: December 9, 2012
The 1929 stock-market crash and the ensuing Great Depression exposed major weaknesses in the U.S. and world economies. These ranged from chronically low farm prices and uneven income distribution to trade barriers, a surplus of consumer goods, and a constricted money supply. As the crisis deepened, President Hoover struggled to respond. In 1932, with Hoover's reputation in tatters, FDR and his promised "New Deal" brought a surge of hope. Although FDR's New Deal did not end the Great Depression it eased the people's suffering and reformed many of the problems that contributed to the depression by providing relief, recovery, and reform while fundamentally changing the role of the federal government towards the people. Bucket 1 Relief Bank Holiday/Emergency Banking Relief Act- Closed all banks; government then investigated banks and only those that were solvent ones were allowed to reopener--Sent millions of dollars to states to use in DIRECT RELIEF payments and food for the unemployed CCC-Created jobs for over two million young unmarried men in conservation work and parks HOLC- Lowered mortgages to stop foreclosures. Bucket 2 Recovery AAA- Paid farmers to reduce the amount of crops they planted, in order to cut excess production NRA-Set up voluntary agreements among businesses to cut excess production.( prices, wages, and hours of work) SETRULES AND REGULATIONS FOR THE ECONOMY( created NIRA)NIRA- Authorized the President to regulate industry and permit cartels and monopolies in attempt to stimulate economic recovery. WPA- Created jobs for millions of unemployed people construction roads, hospitals, post offices, parks, and many other projects. The WPA also included a program that hired out-of-work artists, photographers, actors, and writers for aide range of artistic and educational projects. TVA- Built hydroelectric power plants and flood control dams in seven states in the Tennessee River region Bucket 3 Reform FDIC- Protected people's bank deposits, thus...
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