Roosevelt Takes Action

III. Roosevelt Takes ActionA. Banking Crisis

1. Temporarily closed all the nation’s banks to stop panic and large-scale withdrawals

2. Passed the Emergency Banking Act

a. The law gave government officials power to examine each bank, determine it soundness, take steps to correct problems, and if necessary, close it.

3. Glass-Steagall Act created the FDIC

a. This provided government insurance for depositors’ savings

b. Reassured depositors returned money to the banks

B. The Hundred Days

1. Critical period of government activity2. Roosevelt pushed Congress to put most of his

New Deal into practice.a. Relief for those suffering the effects of the Great

Depression

b. Recovery of the depressed economy

c. Reforms that would help prevent serious economic crisis in the future

C. New Deal Programs1. Civilian Conservation Corps (CCC)

a. Helped unemployed young men 18 to 25 years old

2. Agriculture Adjustment Act (AAA)

a. Helped farmers by paying them not to grow crops

3. National Industrial Recovery Act (NIRA)

a. Helped business by requiring that businesses in the same industry cooperate with each other to set prices and output

b. Started Public Works Administration (PWA)

c. Labor received federal protection for the right to organize.

4. Federal Securities Act

a. Helped investors, restored confidence in the markets

5. Securities and Exchange Commission (SEC)

6. Tennessee Valley Authority (TVA)

a. Helped build dams and other projects along the Tennessee River and its tributaries

D. Beyond the Hundred Days1. FDR and Congress passed important legislation after the

Hundred Days

2. Created the Civil Works Administration

a. This agency provided winter employment to 4 million workers.

b. Crews built miles of highways, and sewer lines, hundreds of airports, and more

3. Passed the Indian Reorganization Act

a. Reversed previous policies by recognizing the tribe as the key unit of social organization for Native Americans

b. Limited the sale of Indian lands

c. Provided assistance to native groups in developing their resources, economy, and culture

d. Granted them some limited rights of self-rule.

Daily questions

1. What initial actions did FDR take to stabilize the economy?

2. What was the goal of the TVA?

3. How did the public benefit from the Federal Securities Act?

4. How do you think the NIRA will affect interactions between labor unions and businesses?

5. What were the three main categories of the programs and actions of Roosevelt’s New Deal?