Text Notes - Chapter 21.docx

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Published on 19 Apr 2013
School
McGill University
Department
History
Course
HIST 221
Professor
Introduction
Columbia River project: Grand Coulee Dam ―publics works
revolution‖
Project begun in 1930s, went into operation in 1941
Created thousands of jobs for unemployed
Produced abundant cheap power, eventually 40% of nation‘s
hydroelectric power
THE FIRST NEW DEAL: focus: economic recovery
FDR & The Election of 1932
Campaigned on promise of a ―new deal‖ for the American
people
o Govt‘s responsibility to provide every man a right to
make a comfortable living
o Advocated a balanced federal budget
o Criticized Hoover (opponent) for excessive govt
spending
o Called for repeal of Prohibition- major difference btwn
parties
FDR won 57% of popular vote & democratsmajority in
congress
The Coming of the New Deal: 1930‘s, political responses to depression
Conservative govts in power in Britain & France
Concern over public order rather than suffering/policy
innovations
Tyrants in Germany (Hitler) and USSR (Stalin)
Militarist govt in Japan, invaded China in 1937, hoped to
expand rule throughout Asia
FDR‘s New Deal: alternative to socialism (left) and Nazism
(right)
o hoped to reconcile democracy, individual liberty,
and economic planning
appointed administration of intellectuals and social
workers…symbolic of progressive reform
o ex. Frances Perkins, Harry Hopkins, Louis Brandeis,
Harold Ickes (see pg. 862)
o Brandeis: Corporations have too much power, should be
broken up (not regulated), helped Depression, kept
prices up.
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o Others claimed large firms: inevitable but should be
managed/directed by the govt **1st New Deal
view**
―the only thing we have to fear is fear itself‖ –FDR ‘33 inaugural
address
first three months of FDR‘s presidency: ―the hundred days‖
spirit of crisis/momentum of electoral victory helped the rapid
passage of laws expanding federal govt’s role in people‘s lives..
ex. NRA, AAA, CCC
FDR shifted idea of libertychallenged idea that best way to
encourage economic activity/fair distribution of wealth= allowing
market competition to operate unrestrained by govt
The Banking Crisis…banks on verge of collapse early 1933
Funds invested in stock market lost value, depositors
withdrew savings. Banks suspended in majority of states-
people couldn‘t access money in their account
―bank holiday‖ called by FDR- halted all bank operations,
congress entered Special session, increased govt power over
financial system in order to save it
3/9: Emergency Banking Act- provided funds to shore up
threatened institutions
Glass-Steagall Act: barred commercial banks from
buying/selling stocks and established FDIC (Federal
Deposit Insurance Corp)
FDIC: insured accounts of individual depositors
FDR took US off gold standard, made issuing money easier to
stimulate business activity
29-33: ½ of banks failed, 1936: not one bank failed
The NRA: National Recovery Administration, established by the
National Industrial Recovery Act, modeled after War Industries Board
of WWI
Worked with business leaders to create industry codes setting
standards for output, prices, and working conditions
Ended cut throat competition
section7a: worker‘s right to organize unions (industrial
freedom)
Head: Hugh S. Johnson retired general and businessman
o Established codes that set standards for production,
prices, and wages in textile/steel/mining/auto industrial
o Publicity campaign to promote NRA & Blue Eagle symbol
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Initial public enthusiasm turned to controversy/failure
o Code writing dominated by large companies (used NRA
to drive up prices, limit production, lay of workers, and
divided markets among themselves at price of smaller
competitors)
o Sec7a ignored by anti-union employers
o manpower needed to police the 750 codes was missing
o NRA produced neither economic recovery nor peace
between employers and workers
1st thought- Economy Act: reduced federal spending, worried about
undermining idea of individual self-reliance
wake of depression- relief was unavoidable, ¼ labor force unemployed
!
Government Jobs: goal: combat unemployment while improving
national infrastructure
May 33: Federal Emergency Relief Administration offered
grants to local aid agencies
Civilian Conservation Corps (CCC): hired unemployed
young men to work on projects ex. flood control, forest
preservation, improvement of parks/wildlife preserves. Ended
in 1942-over 3 million had participated and received govt
wages of $30 a month
Public Works Projects
Public Works Administration (PWA)-created by national
industrial recovery act, given $3.3 billion to build roads,
schools, hospitals, and other public facilities (ex. NY
Triborough bridge, overseas highway between Miami & Key
West)
Civil Works Administration (CWA): launched nov‘33,
employed more than 4 million in construction of highways,
tunnels, courthouses, and airports. Costs were expensive &
many complained that the new deal was creating a civilian
class dependent on govt jobs so FDR dissolved the CWA.
Tennessee Valley Authority (TWA): also created during
Hundred Days, built dams to prevent floods & deforestation
along TN River and provided cheap electro power for
homes/factories in 7 states
New Deal & Agriculture
Agricultural Adjustment Act (AAA): govt set production
quotas for major crops/paid farmers not plant more in an
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Document Summary

Columbia river project: grand coulee dam publics works revolution . Project begun in 1930s, went into operation in 1941. Produced abundant cheap power, eventually 40% of nation s hydroelectric power. Fdr won 57% of popular vote & democrats majority in congress. The coming of the new deal: 1930 s, political responses to depression. Conservative govts in power in britain & france. Concern over public order rather than suffering/policy innovations. Tyrants in germany (hitler) and ussr (stalin) Militarist govt in japan, invaded china in 1937, hoped to expand rule throughout asia. Fdr s new deal: alternative to socialism (left) and nazism (right: hoped to reconcile democracy, individual liberty, and economic planning. Appointed administration of intellectuals and social workers symbolic of progressive reform: ex. 862: brandeis: corporations have too much power, should be broken up (not regulated), helped depression, kept prices up, others claimed large firms: inevitable but should be managed/directed by the govt **1st new deal view**

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