History
1052y
Mr. McCaughey
Spring 2001
New Deal Timeline, 1932-1938
1932
February - Reconstruction
Finance Act – Hoover-backed effort to provide financial support to banks
and railroads as check against further economic collapse
June
- Bonus Bill – Passed House but
rejected by Senate, to pay WWI soldiers’ bonus as per demands of the “Bonus
Army.” Bonus supporters routed
from encampment by Washington Monument by
Army troops under command of General Douglas MacArthur
8
November - Democrat Franklin Roosevelt, with nearly 23,000,000 votes, 472 electoral votes, defeats incumbent Herbert Hoover, with nearly 16,000,000
votes, 59 electoral votes, mostly in NEngland [57% turnout]
1933
February –
20th [“Lame Duck”]
Amendment ratified, moving up date of start of presidential term from March
to January
4
March - Inauguration of Franklin Roosevelt
5
March - President Roosevelt declared a 4-day “bank holdiay” to
give solvent banks opportunity to put their books
in order, reassure depositors
and halt runs
9
March – Special session of 73rd Congress called by FDR under “war
powers” provisions; Democratic majorities
in House(310/117/5) and Senate
(60/35/1) controlling; begins First
100 Days
9
March - Emergency Banking Relief Act
– Presidential power to oversee gold and international transactions of
national banks
12
March - First of FDR’s “Fireside Chats” on national radio
20
March - Economy Act - FDR-sponsored
measures to balance budget and cut federal expenditures
22
March - Beer-Wine Revenue Act --
Legalized the sale (and taxing) of beer and wine
31
March – Creation of Civilian
Conservation Corps, to provide outdoors work for young men
19
April – US abandoned the gold standard; reduced the value of the dollar
abroad; intended to stimulate exports and stabilize banking
12
May - Federal Emergency Relief Act -
Provided federal funds to states to aid in relief efforts;
Harry Hopkins named Federal Relief Administrator
12
May - Agricultural Adjustment Act -
Government to support prices for crops in exchange for farmers’ limiting
production;
to be paid for by processing taxes; provided farmers’ needed
relief with mortgage foreclosures
18
May - Tennessee Valley Authority -
federal government created authority to develop the energy resources of 7-state
region;
to compete with private providers of energy to extend electricity
throughout region
13
June - Homeowners Refinancing Act -
Federal government to provide mortgage assistance to homeowners or would-be
homeowners
16
June - Glass-Steagall Banking Act -
Guaranteed security of deposits in the Federal Reserve System
16
June - National Industrial Recovery Act
[NIRA]- called upon industries to adopt fair-competition codes and to
cooperate
among themselves and with labor to revive industrial activity; tacit federal
support for labor organizing.
Hugh
S. Johnson head of NRA.
Concludes First 100 Days with close of
special session of 73rd Congress.
November
- Civil Works Administration –
Federal funds to states for work-relief projects; designed to counter slowing
of
business revival after mid-1933; Harry
Hopkins in charge
December
– 21st Amendment,
rescinding Prohibition Amendment [18th], ratified.
1934
6 June - Securities Exchange Act
– Increased federal regulation of stocks/securities markets
19
June - Federal Communications Commission
Act - New federal regulations on radio broadcasting
19
June - Silver Purchase Act - Congress
provides for Treasury purchase of silver at rate designed to depreciate the
value of the dollar
28
June - National Housing Act- begins
federal government involvement in providing low-cost housing
6
November - Congressional elections increase Democratic majorities in both House
(+9) and Senate (+9)
1935
8 April - Emergency
Relief Appropriations Act/Works Progress Administration
{WPA} - Federal government shifting
away fro direct relief to jobs-creation,
especially large-scale public works projects;
Harry Hopkins in charge; Marks beginning of “Second New Deal”
1
May - Resettlement Administration -
assistance to poor farmers and sharecroppers, including resettlement;
Rexford
Tugwell in charge
27 May -- NIRA invalidated by Supreme Court in
5
July - National Labor Relations Act [NLRB/Wagner Act]- federal government
backing of right of works to
organize and engage in collective bargaining;
encouraged unions to press its organizing efforts
14
August - Social Security Act - Taxes
on employers and employees to provide unemployment compensation
and retirement
benefits to those workers contributing to fund.
Largely the work of Frances Perkins, Sec'y of Labor.
30
August - Wealth Tax Act - Increased taxes on high incomes, estates and gifts;
designed to limit accumulation
of wealth and to effect its redistribution
1936
6
January -- AAA invalidated by Supreme Court in U.S. v. Butler
3 November
–Roosevelt overwhelmingly won reelection with nearly 28,000,000 votes (up
5,000,000) and 523 electoral
votes (up 61), to Kansas Republican Alf Langdon’s
nearly 17,000,000 (same as ’32) and 8 electoral votes (down 51),
carrying only
Maine and Vt. Democratic majorities in Senate to 76-16 and House, 331-89.
1937
20
January -- FDR's 2nd Inaugural Adress; declares Us "a nation 1/3rd
ill-housed, ill-clad, ill-nourished";
No mention of plans to reorganize the Supreme Court
February 5 - Roosevelt proposed restructuring of Supreme Court [“Court packing”] to deal with imputed problem of aging justices
29
March -- Supreme Court upheld state minimum wage law in West Coast Motel v.
Parrish
Involved switch of Justices Roberts and Hughes to secure 5 to 4 majority
upholding New Deal legislation
12 April -- NLRAct upheld by Supreme Court in Laughlin Steel case decided by another 5 to 4 majority;
August
26 - Roosevelt abandons plan to increase size of Supreme Court in face of
bi-partisan opposition
November
- December - Special session of Congress, but none of FDR’s domestic
legislative program enacted,
Primarily due to opposition of Southern Democrats. Effective end to the New Deal.
1938
November -
Congressional elections produced first Republican gains since 1928; FDR’s
leading Southern
Democratic critics generally reelected
1939
January -
FDR’s annual message proposed no new domestic legislation; to focus on
international threats to democracy.