Discuss the main concepts of FDR's New Deal.
President Franklin D. Roosevelt had a program to deal with the Great Depression. This program was called the New Deal. The goals of the New Deal were to provide relief to the American people, recovery to our economy, and reform of our society.
The relief programs were designed to get people back to work and to help them deal with their loans. The Public Works Administration provided money to get people back to work on construction projects. Roads, bridges, and school were some of the projects that were completed. The Civilian Conservation Corps provided jobs for young unemployed men who went to the west to work on conservation projects. President Roosevelt wanted to lower the unemployment rate, which was as high as 25% at one point during the Great Depression. Another relief program was the Home Owners Loan Corporation. This program helped people who were working to refinance their mortgages. The Farm Credit Administration did the same thing for farmers, allowing them to refinance their loans.
The Recovery Programs were designed to help the economy recover from the Great Depression. The National Industrial Recovery Act brought the government, businesses, and workers together to develop a series of rules and regulations that all parties could accept. The Social Security Act was designed to help elderly people in retirement. This program provided eligible workers with a pension at the age of 65. It also provided help to those who were unemployed. Some of the programs that provided jobs helped the economy recover to some degree from the Great Depression.
The reform programs were designed to prevent another depression from occurring. The Emergency Banking Relief Act closed all banks allowed only the strong ones to reopen. The Glass-Steagall Act prevented commercial banks from investing in the stock market. It also provided insurance to keep savings accounts safe. The Securities Act required companies to give investors accurate information about the companies in which they are going to invest. The Security and Exchange Commission was created to monitor the stock market and to prevent fraud.
The New Deal was designed to help solve the problems created by the Great Depression. Through relief, recovery, and reform programs, the New Deal was able to soften the harsh effects of the Great Depression.