History 8 - Moody Farrag History 106 March 7, 2007 The New...

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Moody Farrag History 106 March 7, 2007 The New Deal- restructuring government to end great depression. 1932, Roosevelt enters Whitehouse, 1933 Roosevelt comes up with plans called the new deal which reconstructures what the government does with people. The Second New Deal- Take the moment and reconstruct everything again Roosevelt does not come up with new ideas and some of them are progressive ideas yet he makes it more powerful , more efficient By changing government, he makes government act to different forces. 1930s, increase of credit to finance purchases. Banks had failed, lost money to stock market, and collapsed overnight. Some survived but most were failing. Roosevelt calls for a bank holiday in spring of 1933 to prevent people from taking money out. Banking and Agriculture Emergency Banking Act- a series of loans, government loans, to banks to keep them open. Hoover did this, but Roosevelt puts more money into it which makes it more powerful. Roosevelt then goes on the radio (fireside chats) and talks to people. He tells people to have faith, trust and confidence in the government and banking system. He reopens bank and over 1 billion dollars was deposited in one day. Truth and Security act- government force businesses to make true stock of businesses. Agriculture Adjustment Administration (AAA) - Roosevelt felt farmers were in bad situations. Farmers need to grow less so the price goes back up. This AAA Limits production of American farmers. They pay farmers not to grow in order to create smaller supply. Money came from food processing industries. This creates a smaller market, which would create higher prices. This puts the people’s mind that the government pays people to do something and not to do something. Farmers tend to move and larger farmers buy out smaller farmers.
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This note was uploaded on 04/01/2008 for the course HIST 106 taught by Professor Smith during the Spring '08 term at Texas A&M.

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History 8 - Moody Farrag History 106 March 7, 2007 The New...

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