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lecture20 - 23:40 Todays Points 1 In the depth of the...

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23:40 Today’s Points 1. In the depth of the depression, Franklin Roosevelt emerges promising to put the federal government into action to solve the economic crisis. Roosevelt crafts his public image to meet the public’s desire for bold energy and new ideas. 2. The first New Deal (1933-1935) is a sweeping but temporary experiment in government management of the economy. A “second New Deal” (1935-1936) creates first federal social insurance policies. 3. Roosevelt’s policies establish the federal government as the ultimate guarantor of liberty in industrial America. The New Deal and the Redefining of American Liberty, 1933-1935 Lecture 20 The Low Point: 1932-1933 Unemployment at 25%+ [40%] Financial losses Wall Street has lost 80% of total value (or $70 billion) 43% of banks in America have failed agriculture farm income drops 60% by 1933 Home mortgages 40% are in default in urban areas Pt. I—The Persona of Franklin Roosevelt A. The image f energy & action B. Fighting fear itself C. Reaching out to ordinary Americans
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