New Deal Dbq

By 1932 there are twelve million people unemployed in the United States. President Hoover keeps on promising the American people that the storm will pass and he keeps on making statements that further him from the American people, for example “there is no real starvation in America”. Hoovers unpopularity soars and everything bad is named after him. In 1932 Hoover signed into law the home loan bank act which reduced prices for homes in a last ditch effort to increase his depleted political gain. In the election of 1932 Franklin Delano Roosevelt the governor from New York challenges Hoover. Roosevelt a natural politician is seen as someone finally fighting for the common man. Roosevelt promises an end to abolition which is well needed in those

He forms the “brain trust” which is originally a group of academic advisers from Columbia University but is then joined by his wife Eleanor Roosevelt and other professionals. A presidency is now often judged by its accomplishments and its lack thereof in its first one hundred days because of Franklin Roosevelt and his accomplishments in his first one hundred days. Roosevelt immediately creates the new deal. The new deal had three main goals: relief, recovery and reform. The emergency banking relief act was an attempt to stabilize the banking system. Roosevelt creates a four day national bank holiday to give time for the country to calm down and allow time for the enactment of remedial legislation. To bring relief Roosevelt creates the Federal Emergency Relief Administration. FERA distributes money to local governments to give to people in need. FERA creates the Civil Works Administration which put four million people on the federal payroll to improve and build infrastructure throughout the country. The Civilian Conservation Corps was created to put young men to work. The CCC employed a million young men with the salary of thirty dollars a week which included twenty five which had to be sent home. The Home Owners Loan Corporation was created to bail out millions of homeowners who were in danger of losing their homes. Homeowners can now borrow from the HOLC at a low interest loan to extend their mortgages many years. The Farm

FDR removes the US from the gold standard and makes it illegal to own gold and not to turn it in. The AAA is created to raise farmers income. The Public Works Administration is created to provide contracts to private companies to build infrastructure throughout the country. The PWA provides employment, stabilizes purchasing power, and helps revive the economy. Perhaps the most successful and enduring act of the new deal was the Tennessee Valley authority which bought electricity, factories and much needed labor to a depressed region. In order to avoid an economic collapse from reassuring, FDR creates some reforms. The Federal Securities act is created to make sure investors know what they are investing in by having companies who sell stock explain to the investor all the economic information involved. The Federal Trade commission is granted authority to oversee the issue of new stocks. The securities and exchange commission is created to regulate unfair manipulation of stocks specifically insider trading. The Glass-Steagall act separates investment banks from commercial banks and makes it illegal for them to work together. The Glass-Steagall act also creates the FDIC which insures consumer of certain banks an amount of money if their bank ever collapsed. The Wagner-Connery act is created to prevent unfair labor practices and coercion of