How successful was the First New Deal? (1933-1934)

A table summarising key Alphabet Agencies of the First New Deal.

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The First New Deal 1933 to 1934 ­ Was it successful?
Problem Alphabet agency Relief, Recovery, Key Features Successes Limitations
Banking and finance Emergency Reform ­ leads to the Closes banks for 4 days so that emergency legislation can be Overall success as more money Roosevelt didn't do enough, some
People took their money out of Banking Relief Act Glass Steagall Act passed deposited wanted him to nationalise the
banks (1933) Recovery Uses Hoover's reconstruction finance corporation to examine People used banks again banks
Lack of regulation EBRA (Relief for banks) all banks and only robust ones allowed to open April 1933 $1 billion redeposited in Not a socialist so an unfair
State banks collapse Uses `fireside chat' to address the nation to persuade them to banks (less than one month later) criticism
1933 ­ 40 banks a day close start using banks again "Roosevelt saved capitalism in 8
In some states banking systems EBRA ­ passed within 40 minutes of Roosevelt coming to days"
completely broke down power ­ a real sense of emergency
Relief Federal Relief $500 million given in equal amounts to state's FERA offices ­ Set a precedent Not enough money
No federal relief Emergency Relief Harry Hopkins in charge of FERA FERA workers refused office base
Charities ­ limited Act (1933) "Give a man a dole and you save his body and destroy his Corrupt
Terrible stigma to getting relief REFA spirit. Give him a job and pay him an assured wage and you Subsistence wage $100 per month
save both the body and the spirit." ­ only receiving $25
Attitudes not changing ­ trying to
stop welfare dependency
Agriculture Agricultural Recovery Government subsided farmers to stop planting and kill Total farmers income rose from No benefits to AfricanAmericans
Overproduction ­ really long Adjustment Act livestock $4.5 billion in 1932 to $6.9 billion in only helps farmers not labourers
standing problem, preceded (1933) Tax on companies that process food ­ meant to pay for itself 1935 Criticised due to killings
depression, one of main causes AAA Overall aim to increase farmers' incomes Government purchased $8.3 Terrible social consequences
Complexity facing Roosevelt ­ solve economic problems but million cattle to reduce the
create social hardship challenge success breeding of cows by 20%
Killed 6 million piglets
AAA worked effectively with
Problems in industry National Industrial Recovery Centrepiece of the Administration's efforts which established Industrial production increased Businesses more interested in
Recovery Act two crucial organisations: NRA and PWA Up until 1935, industrial production getting Blue Eagle symbol than
(1933) Had to quickly introduce as Roosevelt opposed the scheme rises by 10% per annum ­ from a following codes of practice
NIRA NRA was charged with creating legally binding industrywide low base Henry Ford refused to sign codes of
National Recovery codes regulating wages, prices and competition Improved labour conditions practice
Administration 557 codes were drafted including code 7a ­ right to collective Larger businesses benefitted from NRA hated
NRA bargaining the suspension of the antitrust Codes drawn up by big businesses
Set up to oversee industrial recovery. Focused on stressing legislation so didn't benefit small businesses
cooperation in the USAs hour of crisis Many felt the suspension of the
Slogan: "we play our part". Want to restore purchasing power antitrust legislation was a betrayal
and avoiding excessive cutthroat competition. of the spirit of freedom and
Drawn up by big businesses competition that should be the
`American way'
Excluded agricultural workers and
domestic servants
Unemployment Public Works Relief Public Work construction agency to provide employment. E.g. Pumped billions into the economy People criticised that it was a waste
1214 million unemployed Administration Dams, hospitals and schools Employed 100, 000s of people of money ­ boondoggling
Most difficult problem to deal with PWA Nearly 13,000 schools providing 1000s of jobs. Progress was slow to start with
Harold Ickes ­ demanded value for money and only funded
worthwhile projects
$3.3 billion

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The First New Deal 1933 to 1934 ­ Was it successful?
Civilian Relief Public work relief program run like a military boot camp Taught approximately 100,000 Primarily available to young white
Conservation 3 million (white 17 ­ 24 males initially (raised to 28 later)) people to read and write men ­ segregation, no women or
Corps Environmental conservation an example of works undertaken black people
(1933) Planted 1.…read more

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