APUSH FDR and the New Deal.docx - Assignment 3 Alvin George I Franklin D Roosevelt and the New Deal RELIEF RECOVERY and REFORM programs the only thing

APUSH FDR and the New Deal.docx - Assignment 3 Alvin George...

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Assignment 3 Alvin George I. Franklin D. Roosevelt and the New Deal: RELIEF, RECOVERY, and REFORM programs“… the only thing we have to fear is fear itself.” A. RELIEF of human suffering 1. Bank “holiday”: FDR declares the closing of banks for a certain number of days. After those days passed, depositors would go to the bank and return their hoarded cash. This helped revitalize the banks by pumping money into them. Emergency Banking Act: It expanded executive power by allowing the president to act independently of the Federal Reserve, puts a conservator to oversee bookkeeping of banks with compromised assets, lets the secretary of treasury provide funds to banks as deemed necessary, and allows the Federal Reserve to issue emergency currency through commercial banks using banknotes. This helped restore faith in the American banking system. 2. Federal Emergency Relief Act- This act distributed 500 million federal dollars to state agencies in the form of grants. 3. Unemployment a. WPA- Works Progress Administration- employed millions of people to carry out public works projects, including the construction of public buildings and roads b. PWA- Public Works Administration- budgeted several billion dollars for the construction of public works as a means of providing employment, stabilizing purchasing power, improving public welfare, and contributing to a revival of American industry c. CCC- Civilian Conservation Corps- work relief program that gave millions of young men employment on environmental projects d. CWA- Civil Works Administration- designed to put jobless Americans back to work and to use them on beneficial public projects, specifically during the winter of 1933-34 B. RECOVERY of the United States economy 1. NRA: “codes of fair competition”- National Recovery Administration- created to stimulate business recovery through fair-practice codes. This authorized the president to institute industry-wide codes intended to eliminate unfair trade practices, reduce unemployment, establish minimum wages and maximum hours, and guarantee the right of labour to bargain collectively 2. Mortgage relief: HOLC- Home Owners' Loan Corporation- helped refinance home mortgages

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