The First New Deal: Getting America Back to Work
Roosevelt hit the ground running during his first 100 days in office, passing tons of new laws to fix the economic crisis. His plan had three main goals: provide relief to suffering people, help the economy recover, and reform the system so another depression wouldn't happen.
The banking crisis needed immediate attention, so Roosevelt declared a bank holiday - basically shutting down all banks temporarily. The Emergency Banking Act let the government check which banks were safe to reopen, and surprisingly, people started putting more money back into banks than they were taking out!
The Glass-Steagall Act separated regular banking (where you deposit your allowance) from risky investment banking that had caused many bank failures. It also created the FDIC, which still protects your money today if a bank goes under. Meanwhile, programs like the Civilian Conservation Corps put young men to work planting forests, while the Tennessee Valley Authority built dams and brought electricity to rural areas for the first time.
Quick Tip: Remember the three R's - Relief, Recovery, and Reform - to organize all these New Deal programs in your mind!
