Chapter 28 - Chapter 28 New Deal America"From Hooverism to...

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Chapter 28 New Deal America “From Hooverism to the New Deal” I. Franklin Roosevelt A. Early years i. Born into money, educated, lived upper-class ii. Went to elite boarding school, Harvard, and Columbia Law School iii. Married distant cousin Eleanor Roosevelt (niece of Theo Roosevelt) B. Won democratic seat in NY state senate i. Aristocrat with sincere empathy for common people, desire to experiment, charm, smart sense of timing, willingness to learn from others ii. Backed Woodrow Wilson, served as his assistant secretary of the navy both terms C. Gained democratic vice-presidential nomination but lost D. After he lost, he got polio (made him crippled, unable to stand/walk w/out braces) i. Led him to identify with the poor and suffering E. Strengthened body with help of wife i. Ran for governor of NY and won by a lot ii. Became democrat front-runner for president F. Manipulator of people and power, obsessed with gaining highest office, willing to sacrifice everything (marriage, health, staff, friends), took credit for other’s accomplishments G. However, had many strengths and achievements on his own, born leader, could get most out of people, had bulldog determination to succeed, overcome obstacles, achieve greatness II. The 1932 Campaign A. Grueling for Roosevelt B. Blamed depression on Hoover and republicans C. Defined his new deal i. balance budget, left open loophole that he would gain deficits to prevent starvation, vague on tariff, options to please farmers but not to alarm city people, strict regulation of electric companies ii. most important: mature economy would require imaginative national planning D. Roosevelt had confidence, Hoover didn’t E. Country wanted new course, new leadership, new deal F. Norman Thomas – socialist party G. Roosevelt won by a lot III. The Inauguration A. Roosevelt didn’t take office till March 4
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B. Twentieth Amendment – president takes office on Jan 20 and the new congress on Jan 3 C. Unemployment rises, banking panic struck, people rushed to take out their savings-only made it worse D. “Only thing we have to fear is fear itself” – Roosevelt, said exactly what nation wanted to hear IV. Competing Solutions A. Some promoted vigorous enforcement of anti-trust laws to restore business competition B. Others said anti-trust laws should be suspended to enable large corporations to get w/ federal government in managing economy C. Others wanted massive expansion of welfare programs and prolonged government spending D. Roosevelt’s new deal – trial and error actions, 3 pronged strategy i. 1 st - short-term emergency relief for jobless (for financial crisis) ii. 2 nd - increase federal spending and cooperative agreements b/n management and organized labor (for industrial recovery) iii. 3 rd - pay farmers to reduce size of crops/herds so meat/grain prices would rise (to raise commodity prices) iv. NONE worked perfectly, but combined effect was to restore hope/energy V. Strengthening Monetary System
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Chapter 28 - Chapter 28 New Deal America"From Hooverism to...

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