What was the New Deal?

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  • Created by: Lucyy
  • Created on: 26-11-12 19:43
What did Roosevelt plan to do about the depression?
He promised a new deal. After his inaugaration he launched a programme to give the government a cenral role in tackling the depression. He planned to spend money on a large scale to create jobs.
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When was his inauguration?
4th March 1933. The USA was on the brink of economic disaster.
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What was his inaugaration speech about?
Nobody trusted the banks because so many had gone bust. Roosevelt's speech was a summary of the 'New Deal' which would be brought in in Roosevelt's first 'hundred days' n office'.
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What were his 'fireside chats'?
He realised the potential of the radio in communicating with the public. He used this to broadcast his 'chats' as though he were talking to friends. This gave a sense that the nation was united in difficulty and knew what the government was doing.
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What was the Emergency Banking Act?
Forced all banks to stay closed for 4 days and those whose finances were completely hopeless were closed permanently. The rest were promised grants to regain confidence. It worked and the banks were saved.
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What was the Securities Act?
Forced companies issuing new shares to provide full information about the company to the public in order to bring Wall Street under control.
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What was the Securities Exchange Commission?
Followed in 1934 to use sweeping powers to control market activities.
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How was agriculture the most serious problem?
Over production was severe. Farmers could not make a decent living with prices so low because of it.
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How did Roosevelt solve this?
He paid the farmers not to produce. The Agricultural Adjustment Act allowed the government to influence prices by destroying surplus produce and giving farmers compensation for lost produce.
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Other cards in this set

Card 2

Front

When was his inauguration?

Back

4th March 1933. The USA was on the brink of economic disaster.

Card 3

Front

What was his inaugaration speech about?

Back

Preview of the front of card 3

Card 4

Front

What were his 'fireside chats'?

Back

Preview of the front of card 4

Card 5

Front

What was the Emergency Banking Act?

Back

Preview of the front of card 5
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