HIST 2620 1nd Edition Lecture 21 Outline of Last Lecture I. Horatio AlgerII. Stock Market CrashIII. Great DepressionIV. Three Responses Outline of Current Lecture II. New DealCurrent LectureNew Deal -FDR was trying to save capitalism, but to the Americans it seemed like he was trying to save the poor-he came from a wealthy family, had a private education, 1905 he married Eleanor R., 1920 he was diagnosed with polio-people didn’t see him as a disabled politician, they saw him as the president who is working hard to overcome his struggle (polio)-some things that were accomplished during the New Deal: old age pensions, minimum wages, Federal Housing programs, union recognition, insured bank deposits unemployment compensation, stock market regulation-Bonus Army March: 43,000 marchers—17,000 World War I veterans, their families, and affiliated groups who gathered in Washington, D.C., to demand cash-payment of their service certificates-First 100 days: FDR passed 15 new bills, “Fireside Chats” started so that he could talk to the nation about what was the current issues were -National Recovery Administration: was the primary New Deal agency established by FDR in 1933. The goal was to eliminate competition by bringing industry, labor and government together to create codes of fair practices and set prices, eliminate overproduction, solve labor problems-Agricultural Adjustment Act: reduced agricultural production by paying farmers subsidies not to plant on part of their land and to kill off excess livestock. Its purpose was to reduce crop surplus and raise the value of crops. The These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.problem was farmers still could produce as much as they wanted no matter how much land they had -Public Works Administration: It built large-scale public works such as dams, bridges, hospitals, and schools. Its goals were to spend $3.3 billion in the first year,and $6 billion in all, to provide employment, stabilize purchasing power, and help revive the economy-Civilian Conservation Corps: public work relief program that operated from 1933 to 1942 in the United States for unemployed, unmarried men from relief families, ages 18–25, provided unskilled manual labor jobs related to the conservation and development of natural resources in rural lands owned by federal, state and local governments-Works Progress Administration: employing millions of unemployed people to carry out public works projects including the construction of public buildings and roads-Securities and Exchange Commission: enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations including the electronic securities markets in the United States-Federal Deposit Insurance Corporation: provides deposit insurance guaranteeing the safety of a depositor's accounts in member banks up to $250,000 for eachdeposit ownership category in each insured bank, examines and supervises certain financial institutions for safety and soundness, performs certain consumer-protection functions, and manages banks in receiverships (failed banks)-Home Owner’s Loan Corporation: Its purpose was to refinance home mortgages currently in default to prevent
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