FDR took office in March 1933 amidst the Great Depression, with 15 million unemployed and widespread poverty. To address the banking crisis, FDR declared a bank holiday and only allowed financially sound banks to reopen with government assistance. Over the next few months, Congress passed 15 New Deal laws focused on immediate relief, short-term recovery, and long-term reforms. The New Deal greatly expanded the role of the federal government, helped end the Depression, restored hope, and established new social programs like Social Security and welfare that gave Americans a new sense of entitlement.
FDR took office in March 1933 amidst the Great Depression, with 15 million unemployed and widespread poverty. To address the banking crisis, FDR declared a bank holiday and only allowed financially sound banks to reopen with government assistance. Over the next few months, Congress passed 15 New Deal laws focused on immediate relief, short-term recovery, and long-term reforms. The New Deal greatly expanded the role of the federal government, helped end the Depression, restored hope, and established new social programs like Social Security and welfare that gave Americans a new sense of entitlement.
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FDR took office in March 1933 amidst the Great Depression, with 15 million unemployed and widespread poverty. To address the banking crisis, FDR declared a bank holiday and only allowed financially sound banks to reopen with government assistance. Over the next few months, Congress passed 15 New Deal laws focused on immediate relief, short-term recovery, and long-term reforms. The New Deal greatly expanded the role of the federal government, helped end the Depression, restored hope, and established new social programs like Social Security and welfare that gave Americans a new sense of entitlement.
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Download as PPT, PDF, TXT or read online from Scribd
March 4, 1933 • 15 Million Unemployed • Poverty & Starvation • Promises a “New Deal” • 1st problem = banks What was the Bank Crisis & Holiday? • Banks were in a major crisis – Not enough money for demand • Bank Holiday = March 5-9, 1933 – Closed all banks – Financially sound reopened-others wait for gov’t assistance – Bank crisis over What did the New Deal Do? • March 9 – June 16: • 15 New Deal laws passed Congress dealing directly w/ economic depression • 3 Forms (3 R’s): Relief Recovery Reform ↓ ↓ ↓ Immediate Short Term Help Long Term Help Changes What were the Lasting Effects of the New Deal? • Greatly Expanded the role of the Federal Government • Helped to end the Depression • Restored hope • Gave Americans new sense of entitlement – Social Security, Welfare, etc