The First New Deal

Olivia Wilson
Slide Set by Olivia Wilson, updated more than 1 year ago
Olivia Wilson
Created by Olivia Wilson about 5 years ago
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Slide Set on The First New Deal, created by Olivia Wilson on 05/28/2016.

Resource summary

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    Brief Series Of Events

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    The First Hundred Days: Congress and Roosevelt establish alphabet agencies as part of the New Deal: Civilian Conservation Corps (CCC), Federal Emergency Relief Administration(FERA), Civil Works Administration(CWA), Agricultural Adjustment Act(AAA), Tennessee Valley Authority(TVA), and Public Works Administration(PWA).The 21st Amendment is approved 1933

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    People

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    British economist who believed that deficit spending during recessions and depressions could revive national economies; his theories formed the basis of Roosevelt’s New Deal approach
    John Maynard Keynes

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    The First Hundred Days

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    Roosevelt took a lot of inspiration for the New Deal from the writings of British economist Keynes, who believed that a government’s deficit spending could prime the economic pump and jump-start the economy. With the support of a panicked Democratic Congress, Roosevelt created most of the “alphabet agencies” of the First New Deal within his landmark First Hundred Days in office.

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    Banking Acts

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    On March 6, 1933, (two days after becoming president), Roosevelt declared a five-day national bank holiday to close banks temporarily. In Hoover’s presidency, around 1,500 banks closed per year. FDR hoped a short break would give running banks time to reopen more stably. A few days later, Congress passed the Emergency Banking Relief Act giving Roosevelt power to regulate banking transactions and foreign exchange.
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