exam 3 - 1 The 1930s(continued b New deal 1 FDR creates the...

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1. The 1930s (continued) b. New deal 1. FDR creates the SEC - securities and exchange commission - to regulate publically traded stocks, big companies that sell on the stock exchange 2. The NRA - national recovery administration - was about getting the big business, big labor, big government together and trying to lift the country out of depression. It was sold as being a form of patriotism if you joined the NRA - said you were being American and a good business. Doesn't work 3. AAA - the agricultural adjustment administration - was all about the government regulating the farm economy - trying to get farm prices up to where farmers could earn a living and even buy manufactured products, which would mean manufacturers would need to hire people, etc. The government worked out a formula for this by reducing production so they set about trying to recreate the farm economy to be like it was right before WWI As an incentive, farmers were paid to take land out of production The timing for this was bad - the AAA was created by congress and enacted after the spring planting season, so farmers that year were paid to take land out of production and to destroy some of the plants. The AAA actually does work, the farm economy does get better and it has a huge impact on the countryside, especially in the south (most people in the south were still rural). a. Sharecropping dies out with the AAA b. Also see farming becoming mechanized 4. The CCC - civilian conservation core - provided work relief, young guys (typically who couldn't find any other work) were paid to go out and work on stuff c. Second new deal (*don't worry about distinction from first new deal) 1. Focused more on relief- designed to get help out to individuals 2. The economy stabilized after Roosevelt took office and things actually improved a little 3. WPA - works progress administration - paid people to go do stuff; paid people like actors, artists, historians, etc. to go out and do their thing Part of an effort to get some money out there and maybe get money moving through the economy 4. Most of the relief were on work relief (had to work for the money) - there is a departure from this when Social Security was created - relief for people who couldn't work - it provided money to the elderly and dependent children, basically people who couldn't work d. Opposition 1. Most Americans support the new deals, but there is some opposition 2. The political right - said Roosevelt was taking the country on the road toward socialism True socialists said no, he wasn't and that was the problem 3. The political left ( radical left) - criticized it for not doing enough 4. Is the new deal radical or conservative? Still argued today 5. Huey Long was the best known figure to criticize Roosevelt
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Huey Long becomes popular because he had a simple explanation for the bad economy and a simple plan to fix it Long's explanation was that ultimately, a few individuals had taken up all the wealth - which is not true
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