The plan of the New Deal – the three “R’s”, Relief, Recovery, and Reform -Short-range goals were relief and immediate recovery, esp. within 1st 2 years -Long-range goals were permanent recovery and reform of current abuses, especially those that had produced the Great Depression * Embraced such progressive ideas as unemployment insurance, old-age insurance, minimum-wage regulations, conservation and development of natural resources, and restrictions on child labor. *Designed to deal with immediate emergencies, some measures of which were derived from progressive ideas. *Unprecedented passage of legislation in U.S. history *Congress eager to cooperate with FDR due to his strong mandate *Gave the president extraordinary blank-check powers *Some legislation delegated legislative authority to the chief executive. *First 100 Days legislation has left a lasting mark on the nation *1933-1935 programs now called First New Deal *1935-1938 programs referred to as Second New Deal The Banking Crisis *5,190 banks failed in 1933 bringing total number to 10,951 *Banks in 38 states were closed by state governments. *Remained open for limited operations only. *FDR declared national "banking holiday" between March 6-10 *Only banks who were solvent could reopen (the majority did) *Aimed to restore faith in the nation's banking industry *Government endorsement of banks would encourage people's trust *Took nation off the gold standard (March 6, 1933) *Ordered all private holdings of gold to be surrendered to the Treasury in exchange of paper currency. *Congress responded by canceling the gold-payment clause in all contracts and authorizing repayment in paper money -- "managed currency" *In 1934, reduced value of the gold content of the dollar to 50.06 cents *Value of the dollar is set at $35 per ounce of gold, 59% of its former value. *FDR wanted to stimulate business through controlled inflation *New purchasing power has not significantly changed except with the unfavorable purchase of foreign goods. *Forbade the export of gold or redemption of currency in gold final question: How did the New Deal attempt to solve the problems brought on by the Great Depression? Was the New Deal Successful or not? Use evidence from above as well as independently located sources to develop a strong topic sentence that is supported by cited-evidence and includes analysis in your own words. Response should be a paragraph and typed below. Example Starter: ____, _______, _____ is how the New Deal attempted to solve the problems of the Great Depression and was successful/not successful because….
The plan of the New Deal – the three “R’s”, Relief, Recovery, and Reform
-Short-range goals were relief and immediate recovery, esp. within 1st 2 years
-Long-range goals were permanent recovery and reform of current abuses, especially those that had produced the Great Depression
* Embraced such progressive ideas as
*Designed to deal with immediate emergencies, some measures of which were derived from progressive ideas. *Unprecedented passage of legislation in U.S. history
*Congress eager to cooperate with FDR due to his strong mandate
*Gave the president extraordinary blank-check powers
*Some legislation delegated legislative authority to the chief executive.
*First 100 Days legislation has left a lasting mark on the nation
*1933-1935 programs now called First New Deal
*1935-1938 programs referred to as Second New Deal
The Banking Crisis
*5,190 banks failed in 1933 bringing total number to 10,951
*Banks in 38 states were closed by state governments.
*Remained open for limited operations only.
*FDR declared national "banking holiday" between March 6-10
*Only banks who were solvent could reopen (the majority did)
*Aimed to restore faith in the nation's banking industry
*Government endorsement of banks would encourage people's trust
*Took nation off the gold standard (March 6, 1933)
*Ordered all private holdings of gold to be surrendered to the Treasury in
exchange of paper currency.
*Congress responded by canceling the gold-payment clause in all contracts and authorizing repayment in paper money -- "managed currency"
*In 1934, reduced value of the gold content of the dollar to 50.06 cents
*Value of the dollar is set at $35 per ounce of gold, 59% of its former value.
*FDR wanted to stimulate business through controlled inflation
*New purchasing power has not significantly changed except with the unfavorable purchase of foreign goods. *Forbade the export of gold or redemption of currency in gold
final question:
How did the New Deal attempt to solve the problems brought on by the Great Depression? Was the New Deal Successful or not? Use evidence from above as well as independently located sources to develop a strong topic sentence that is supported by cited-evidence and includes analysis in your own words. Response should be a paragraph and typed below.
Example Starter: ____, _______, _____ is how the New Deal attempted to solve the problems of the Great Depression and was successful/not successful because….
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