The New Deal and 3 R's
To keep his promise, Roosevelt started what he called "The New Deal" in his first 100 days in office. This also included the 3 R's; Relief, Recovery and Reform. Relief was aimed to help citizens get their jobs and homes back. Recovery was made to boost the economy back to a good spot and Reform was created to prevent a economic drop to happen again and get rid of all the possible reasons it started. The idea of "The New Deal" was created to help American citizens cope and recover from the Great Depression.
To keep his promise, Roosevelt started what he called "The New Deal" in his first 100 days in office. This also included the 3 R's; Relief, Recovery and Reform. Relief was aimed to help citizens get their jobs and homes back. Recovery was made to boost the economy back to a good spot and Reform was created to prevent a economic drop to happen again and get rid of all the possible reasons it started. The idea of "The New Deal" was created to help American citizens cope and recover from the Great Depression.
Relief
Roosevelt provided payments so people would have money for food, clothing and shelter. Aimed to help citizens get their jobs and homes back
"Immediate action taken to halt the economies deterioration."
Roosevelt provided payments so people would have money for food, clothing and shelter. Aimed to help citizens get their jobs and homes back
"Immediate action taken to halt the economies deterioration."
Programs:
Emergency Banking Act
This was passed to back up banks that were insolvent so you won't lose your money if the bank shut down
This was passed to back up banks that were insolvent so you won't lose your money if the bank shut down
Bank Holiday
Declared so that the panic would be stopped.
Civilian Conservation Corps (CCC)
Temporary jobs to unmarried single adults helping out at disaster type situations, the volunteers lived in barrack type housing.
Temporary jobs to unmarried single adults helping out at disaster type situations, the volunteers lived in barrack type housing.
Recovery
Gave unemployed people a job so they could work. Made to boost the economy back to a good spot
" 'Pump - Priming" Temporary programs to restart the flow of
consumer demand."
Programs:
Agricultural Adjustment Act (AAA)
Taxed food processors and gave the money directly to farmers as
a payment for not growing food. This decreased supply so price would go
up.
Taxed food processors and gave the money directly to farmers as
a payment for not growing food. This decreased supply so price would go
up.
Works Progress Administration (WPA)
Provided long term government jobs building schools and other
public works projects.
Provided long term government jobs building schools and other
public works projects.
Home Owners Loan Corp.
Gave loans to home owners so they could pay their mortgages.
This prevented people from going homeless and prevented banks from going
under.
Reform
Created to prevent a economic drop to happen again and get
rid of all the possible reasons it started and stabilize the economy.
"Permanent programs to avoid another depression and insure citizens
against economic disasters"
Programs:
Federal Deposit Insurance Corporation
(FDIC)
Permanent Agency designed to insure depositors money in savings
banks. Originally insured up to $5,000 per depositor today it has
increased to $100,000
(FDIC)
Permanent Agency designed to insure depositors money in savings
banks. Originally insured up to $5,000 per depositor today it has
increased to $100,000
Social Security Administration
Permanent agency designed to ensure that the older segment of
society always would have enough money to survive. The key here is that
they would then also be able to spend throughout their lives.
Permanent agency designed to ensure that the older segment of
society always would have enough money to survive. The key here is that
they would then also be able to spend throughout their lives.
Securities & Exchange Commission (SEC)
Permanent Agency set up to monitor stock market activity and
ensure that no fraud or insider trading was taking place
Permanent Agency set up to monitor stock market activity and
ensure that no fraud or insider trading was taking place