Chapter 9 Roosevelt's Wager

July 1935
Unemployment (July): 21.3%
Dow Jones Industrial Average: 119

Summary:

By Funding projects such as the NRA, Roosevelt, hoped that his experiments would prove valuable
to the efforts in improving the situation of the economy, but after seeing how it didn't help the situation, he turned to politics, something that he was more familiar with. Formulating a plan to get him reelected and gain more supporters, Roosevelt, Tugwell, and his administration worked to foster projects like the National Youth Administration which created jobs for hundreds of employees, the Wagner act that denied jobs to anyone who was not in a union, close shop, the Social Security act; which guaranteed citizens that when they retired, they would receive government aid, the TVA, and Guffey coal Act. Roosevelt targeted the rich elite business men, and sympathized with the lower classes by forcing the elites to pay taxes to redistribute and recirculate money into the economy. Doing all of this caused Roosevelt to reevaluate his definition of the "Forgotten Man" to mean something like the different groups such as; Farmers, veterans, blacks, women, and industrial workers, that he planned to help, changing the definition of the Forgotten man. All of these acts, apart of the New Deal helped the situation of the Great Depression and reassured Americans. As a result of the US being in a depression for such an extended period of time, unemployment no longer seemed as harsh as it did towards the beginning of the Depression and stock markets began slowly recovering. Confidence that the New Deal would bring about prosperity, alleviated many of the worries that Americans harbored and allowed the country to recover. Meanwhile, Roosevelt and Congress looked for ways to redistribute revenue and tax profits efficiently.

Key Terms

Guffey Coal Act
Horse and the Buggy
Hallie Flanagan
CIO
Cardozo
PWA
Gone with the Wind
AAA
Tipaldo
Grapes of Wrath

Questions:

How are Hoover and FDR alike?

 How are they different?

Pictures:



Franklin D. Roosevelt New Deal pin, 1932, March 16 2015, http://www.britannica.com/EBchecked/topic/411331/New-Deal





Civilian Conservation Corps, New Jersey 1935, March 16 2015, http://www.britannica.com/EBchecked/topic/411331/New-Deal