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Franklin Delano Roosevelt( /?ro?z?v?lt/roh-z?-v?ltor  /?ro?z?v?lt/roh-z?-v?lt; January 30, 1882 – April 12, 1945) also known by his initials, FDR, was the 32nd President of the United States (1933–1945) and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war.Sony VAIO VPCS123FGB Battery

The only American president elected to more than two terms, he facilitated a durable coalition that realigned American politics for decades. FDR defeated incumbent Republican Herbert Hoover in November 1932, at the depth of the Great Depression. FDR's persistent optimism and activism contributed to a renewal of the national spirit.Sony VAIO VPCS125EC Battery

He worked closely with Winston Churchill and Joseph Stalin in leading the Allies against Germany and Japan in World War II, but died just as victory was in sight.

In his "first hundred days" in office, which began March 4, 1933,Sony VAIO VPCS128EC Battery

Roosevelt spearheaded major legislation and issued a profusion of executive orders that instituted the New Deal—a variety of programs designed to produce relief (government jobs for the unemployed), recovery (economic growth), and reform (through regulation of Wall Street, banks and transportation).Sony VAIO VPCS129GC Battery

The economy improved rapidly from 1933 to 1937, but then relapsed into a deep recession. The bipartisan Conservative Coalition that formed in 1937 prevented his packing the Supreme Court or passing any considerable legislation; it abolished many of the relief programs when unemployment diminished during World War II.Sony VAIO VPCS12C7E/B Battery

Most of the regulations on business were ended about 1975–85, except for the regulation of Wall Street by the Securities and Exchange Commission, which still exists. Along with several smaller programs, major surviving programs include the Federal Deposit Insurance Corporation, which was created in 1933, and Social Security, which Congress passed in 1935.Sony VAIO VPCS12L9E/B Battery

As World War II loomed after 1938, with the Japanese invasion of China and the aggressions of Nazi Germany, FDR gave strong diplomatic and financial support to China and Britain, while remaining officially neutral. His goal was to make America the "Arsenal of Democracy" which would supply munitions to the Allies.Sony VAIO VPCS12V9E/B Battery

In March 1941, Roosevelt, with Congressional approval, provided Lend-Lease aid to the countries fighting against Nazi Germany with Britain. With very strong national support he made war on Japan and Germany after the Japanese attack on Pearl Harbor on December 7, 1941, calling it a "date which will live in infamy".Sony VAIO VPCY115FGS Battery

He supervised the mobilization of the US economy to support the Allied war effort. Unemployment dropped to 2%, relief programs largely ended, and the industrial economy grew rapidly to new heights as millions of people moved to new jobs in war centers, and 16 million men and 300,000 women were drafted or volunteered for military service.Sony VAIO VPCY115FX/BI Battery

Roosevelt dominated the American political scene, not only during the twelve years of his presidency, but for decades afterward. He orchestrated therealignment of voters that created the Fifth Party System. FDR's New Deal Coalition united labor unions, big city machines, white ethnics, African Americans and rural white Southerners.Sony VAIO VPCY115FXBI Battery

Roosevelt's diplomatic impact also resonated on the world stage long after his death, with the United Nations andBretton Woods as examples of his administration's wide-ranging impact. Roosevelt is consistently rated by scholars as one of the top three U.S. Presidents.Sony VAIO VPCY118EC Battery

Family name, early life and education

Rooseveltis an Anglicized form of the Dutch surname 'Van Rosevelt,' or 'Van Rosenvelt', meaning 'from field of roses.' Although some use an Anglicized spelling pronunciationof /?ru?z?v?lt/, that is, with the vowel of ruse,Sony VAIO VPCY118GX/BI Battery

FDR himself used [?ro?z?v?lt], with the vowel of rose. (The last syllable was pronounced by him with a schwa, or nondescript vowel, almost as vult.)

The family was wealthy, and the family had inherited millions from the opium trade.Sony VAIO VPCY119FJ/S Battery

One of the oldest families in New York State, the Roosevelts distinguished themselves in areas other than politics. One ancestor, Isaac Roosevelt, had served with the New York militia during the American Revolution. Roosevelt attended events of the New York society Sons of the American Revolution, and joined the organization while he was president.Sony VAIO VPCY11AFJ Battery

His mother named him after her favorite uncle Franklin Delano.

Roosevelt was born on January 30, 1882, in the Hudson Valley town of Hyde Park, New York. His father, James Roosevelt, and his mother, Sara Ann Delano, were sixth cousins and both were from wealthy old New York families.Sony VAIO VPCY11AGJ Battery

They were of mostly English descent; Roosevelt's great-grandfather, James Roosevelt, was of Dutch ancestry, and his mother's maiden name, Delano, originated with a French Huguenot immigrant of the 1600s.[5][6]Roosevelt was their only child.Sony VAIO VPCY11AHJ Battery

Roosevelt grew up in an atmosphere of privilege. Sara was a possessive mother; James, 54 when Franklin was born, was considered by some as a remote father, though biographer Burns indicates James interacted with his son more than was typical at the time.Sony VAIO VPCY11AVJ Battery

Sara was the dominant influence in Franklin's early years; she once declared "My son Franklin is a Delano, not a Roosevelt at all."Frequent trips to Europe made Roosevelt conversant in German and French. He learned to ride, shoot, row, and play polo and lawn tennis.Sony VAIO VPCY11M1E/S Battery

Roosevelt also took up golf in his teen years, becoming a skilled long, hitter. He learned to sail; his father gave him a sailboat which he named "New Moon".

Roosevelt attended Groton School, an Episcopal boarding school in Massachusetts; ninety percent of the students were from families on the social register.Sony VAIO VPCY11S1E Battery

He was heavily influenced by its headmaster, Endicott Peabody, who preached the duty of Christians to help the less fortunate and urged his students to enter public service. Forty years later Roosevelt said of Peabody, "It was a blessing in my life to have the privilege of [his] guiding hand." Roosevelt was a "B" student.Sony VAIO VPCY11V9E/S Battery

Roosevelt went to Harvard College and lived in the Adams House, part of the "Gold Coast" area, reserved for wealthy students. Though he was a "C" student, he was a member of the Alpha Delta Phi fraternity, and also editor-in-chief of The Harvard Crimsondaily newspaper.Sony VAIO VPCY218EC/BI Battery

Roosevelt later declared, "I took economics courses in college for four years, and everything I was taught was wrong."[10]While he was at Harvard, his fifth cousin Theodore Roosevelt became President, and the president's vigorous leadership style and reforming zeal made him Franklin's role model and hero.Sony VAIO VPCY218EC/G Battery

In 1902, he met his future wifeEleanor Roosevelt, Theodore's niece, at a White House reception (they had previously met as children). Eleanor and Franklin were fifth cousins, once removed.[12]At the time of their engagement Roosevelt was age twenty-two and Eleanor nineteen.Sony VAIO VPCY218EC/L Battery

Roosevelt graduated from Harvard with an A.B. in 1903. He later received an honorary LL.D from Harvard in 1929.

Roosevelt entered Columbia Law School in 1904, but dropped out in 1907 after he passed the New York State Bar exam.Sony VAIO VPCY218EC/P Battery

In 1908, he took a job with the prestigious Wall Street firm of Carter Ledyard & Milburn,[15]dealing mainly with corporate law. He was first initiated in the Independent Order of Odd Fellowsand was initiated into Freemasonry on October 11, 1911, at Holland Lodge No. 8 in New York City.Sony VAIO VPCY21S1E/L Battery

Marriage and family life

On March 17, 1905, Roosevelt married Eleanor despite the fierce resistance of his mother. Eleanor's uncle, Theodore Roosevelt, stood in at the wedding for Eleanor's deceased father Elliott. (Eleanor had lost both parents by age ten.Sony VAIO VPCY21S1E/P Battery

) The young couple moved into Springwood, his family's estate, where FDR's mother became a frequent house guest, much to Eleanor's chagrin. The home was owned by Roosevelt's mother until her death in 1941 and was very much her home as well. As for their personal lives, Franklin was a charismatic, handsome and socially active man.Sony VAIO VPCY21S1E/SI Battery

In contrast, Eleanor was shy and disliked social life, and at first stayed at home to raise their children. Although Eleanor had an aversion to mating, and considered it "an ordeal to be endured";[19]they had six children, the first four in rapid succession:Sony VAIO VPCZ110 Battery

  • Anna Eleanor (1906–1975; age 69)
  • James (1907–1991; age 83)
  • Franklin Delano, Jr. (March 18, 1909 – November 7, 1909)
  • Elliott (1910–1990; age 80)  Sony VAIO VPCZ110GB/BI Battery
  • a second Franklin Delano, Jr. (1914–1988; age 74)
  • John Aspinwall (1916–1981; age 65).  Sony VAIO VPCZ112GD/S Battery

Roosevelt allegedly had affairs outside his marriage, including one with Eleanor's social secretary Lucy Mercer which began soon after she was hired in early 1914. In September 1918, Eleanor found letters revealing the affair in Roosevelt's luggage, when he returned from World War I.Sony VAIO VPCZ112GX/S Battery

According to the Roosevelt family, Eleanor offered Franklin a divorce so that he could be with the woman he loved, but Lucy, being Catholic, could not bring herself to marry a divorced man with five children. According to FDR's biographer Jean Edward Smith it is generally accepted that Eleanor indeed offered "to give Franklin his freedom."Sony VAIO VPCZ114GX/S Battery

However, they reconciled after a fashion with the informal mediation of Roosevelt's adviser Louis McHenry Howe, and FDR promised never to see Lucy again. His mother Sara also intervened, and told Franklin that if he divorced his wife, he would bring scandal upon the family, and she "would not give him another dollar."Sony VAIO VPCZ115 Battery

However, Franklin broke his promise. He and Lucy maintained a formal correspondence, and began seeing each other again in 1941—and perhaps earlier.[21][22]Lucy was even given the code name "Mrs. Johnson" by the Secret Service. Indeed, Lucy was with FDR on the day he died. Despite this, FDR's affair was not widely known until the 1960s.Sony VAIO VPCZ115FC/B Battery

Roosevelt's son Elliott claimed that Franklin had a 20-year affair with his private secretaryMarguerite "Missy" LeHand.

The effect of this affair upon Eleanor Roosevelt is difficult to estimate. "I have the memory of an elephant. I can forgive, but I cannot forget," she wrote to a close friend.Sony VAIO VPCZ115FC/S Battery

After the affair any remaining intimacy left their relationship. Eleanor soon thereafter established a separate house in Hyde Park at Valkill, and increasingly devoted herself to various social and political causes. For the rest of their lives, the Roosevelts' marriage was more of a political partnership than an intimate relationship.Sony VAIO VPCZ116 Battery

The emotional break in their marriage was so severe that when FDR asked Eleanor in 1942—in light of his failing health—to come back home and live with him again, she refused.

Roosevelt's dog, Fala, also became well known as Roosevelt's companion during his time in the White House, and was called the "most photographed dog in the world."Sony VAIO VPCZ116GX/S Battery

State Senator & Tammany antagonist

In the State election of 1910, Roosevelt ran for the New York State Senate from the district around Hyde Park in Dutchess County, which had not elected a Democrat since 1884.Sony VAIO VPCZ117 Battery

The Roosevelt name, with its associated wealth, prestige, and influence in the Hudson Valley, and the Democratic landslide that year, carried him to the state capital Albany. Taking his seat on January 1, 1911, he became the leader of a group of "Insurgents" who opposed the bossism of the Tammany machine dominating the state Democratic Party.Sony VAIO VPCZ117FC/B Battery

The U.S. Senate election which began with the Democratic caucus on January 16, 1911, was deadlocked by the struggle of the two factions for 74 days. On March 31, James A. O'Gorman was elected, and Roosevelt had achieved his goal: to upset the Tammany machine by blocking their choice, William F. Sheehan.Sony VAIO VPCZ118 Battery

This brought Roosevelt national exposure and some experience in political tactics and intrigue. Roosevelt soon became a popular figure among New York Democrats, though he had not as yet become an eloquent speaker. Despite a bout of typhoid, and thanks to the help of Louis McHenry Howe who ran his campaign,Sony VAIO VPCZ118GX/S Battery

he was re-elected for a second term in the State election of 1912, and served as chairman of the Agriculture Committee. His success with farm and labor bills was a bit of a precursor to his New Deal policies twenty years later. By this time he had become more consistently progressive, in support of labor and social welfare programs for women and children;Sony VAIO VPCZ119 Battery

cousin Teddy was of some influence on these issues.Roosevelt, again in opposition to Tammany Hall, supported Woodrow Wilson's successful bid in the 1912 presidential election, and thereby earned an informal designation as an original Wilson man.[33]This opened the door for opportunities in the Wilson administration.Sony VAIO VPCZ119FJ/S Battery

Roosevelt resigned from the New York State Senate on March 17, 1913, to accept his appointment as Assistant U.S. Secretary of the Navy.

Assistant Secretary of the Navy

Franklin D. Roosevelt was appointed Assistant Secretary of the Navy by Woodrow Wilson in 1913 and served under Secretary of the Navy Josephus Daniels.Sony VAIO VPCZ119GC/X Battery

Roosevelt developed a life-long affection for the Navy, and was more ardent than his boss Daniels in supporting a large and efficient naval force. As assistant secretary, Roosevelt worked to expand the Navy and founded the United States Navy Reserve. Roosevelt negotiated with Congressional leaders and other government departments to get budgets approved.Sony VAIO VPCZ119L Battery

He opposed the Taylor "stop-watch" system which was hailed by shipbuilding managers but opposed by the unions. Not a single union strike occurred during his seven plus years in the Navy department.

In 1914, Roosevelt made an ill-conceived decision to run for the U.S. Senate seat for New York.Sony VAIO VPCZ119R/B Battery

The decision was doomed for lack of Wilson administration backing. He was determined to take on Tammany again at a time when Wilson needed them to help marshal his legislation and secure his future re-election. He was soundly defeated in the Democratic primary election for the United States Senate by Tammany Hall-backed James W. Gerard by a margin of 3-to-1.Sony VAIO VPCZ119R/S Battery

Roosevelt learned a valuable lesson – that federal patronage alone, without White House support, could not defeat a strong local organization.

In March 1917, after Germany initiated its submarine warfare campaign, Roosevelt asked Wilson for permission, which was denied, to fit the naval fleet out for war.Sony VAIO VPCZ11AFJ Battery

He became an enthusiastic advocate of the submarine and of means to combat the German submarine menace to Allied shipping: he proposed building a mine barrier across the North Sea from Norway to Scotland. In 1918, he visited Britain and France to inspect American naval facilities; during this visit he met Winston Churchill for the first time.Sony VAIO VPCZ11AGJ Battery

Roosevelt wanted to provide arms to the merchant marine; knowing that a sale of arms was prohibited, he asked Wilson for approval to lease the arms to the mariners. Wilson ultimately approved this by executive order, and a precedent was set for this action in 1940.Sony VAIO VPCZ11AVJ Battery

During these war years, Roosevelt acted to make peace with the Tammany Hall forces, and in 1918 the group actually supported others in an unsuccessful attempt to convince him to run for governor of New York. He very much wished to get into a military uniform, but the an armistice took shape before this could materialize.Sony VAIO VPCZ11CGX/X Battery

With the end of World War I in November 1918, Roosevelt was in charge of demobilization, although he opposed plans to completely dismantle the Navy. In July 1920, overshadowed by the Newport sex scandal and its coverage in the Providence Journaland New York Times, Roosevelt resigned as Assistant Secretary of the Navy to run for Vice President.Sony VAIO VPCZ11DGX/SJ Battery

In a series of speeches in his campaign for Vice President, Roosevelt claimed (tongue-in-cheek) that as Assistant Secretary of the Navy he wrote the constitution which the U.S. imposed on Haiti in 1915. Sony VAIO VPCZ11FHX/XQ Battery

Campaign for Vice-President

The 1920 Democratic National Convention chose Roosevelt by acclamation as the candidate for Vice President of the United States.The ticket was headed by Governor James M. Cox of Ohio, and Roosevelt was considered as bringing balance to the ticket as a moderate, a Wilsonian and a prohibitionist.Sony VAIO VPCZ11V9R/B Battery

The Cox-Roosevelt ticket was defeated by Republican Warren G. Harding in thepresidential election by a wide margin. This nomination as Vice-President was somewhat meteoric in nature, as Roosevelt had just turned thirty-eight, four years younger than his cousin Teddy had been when he first got the same nomination from his party.Sony VAIO VPCZ11X9E/B Battery

Roosevelt then returned to New York law practice and joined the newly organized New York Civitan Club,[46]but few doubted that he would soon run for public office again.

Paralytic illness

In August 1921, while the Roosevelts were vacationing at Campobello Island, New Brunswick,Sony VAIO VPCZ11Z9E/B Battery

Canada, Roosevelt contracted an illness diagnosed then as polio which resulted in permanent paralysis from the waist down; this diagnosis was later questioned.For the rest of his life, Roosevelt refused to accept that he was permanently paralyzed.Sony VAIO VPCZ125GX/S Battery

He tried a wide range of therapies, including hydrotherapy, and, in 1926, he purchased a resort at Warm Springs, Georgia, where he founded a hydrotherapy center for the treatment of polio patients which still operates as the Roosevelt Warm Springs Institute for Rehabilitation.Sony VAIO VPCZ127FC Battery

After he became President, he helped to found the National Foundation for Infantile Paralysis (now known as the March of Dimes).

At the time, Roosevelt was able to convince many people that he was getting better, which he believed was essential if he was to run for public office again.Sony VAIO VPCZ128GC Battery

Fitting his hips and legs with iron braces, he laboriously taught himself to walk a short distance by swiveling his torso while supporting himself with a cane. In private, he used a wheelchair, but he was careful never to be seen in it in public. Great care was also taken to prevent his being portrayed by the press in a way which would highlight his disability.Sony VAIO VPCZ12M9E/B Battery

Only two photographs are known to exist of the FDR which were taken while he was in his wheelchair. He usually appeared in public standing upright, supported on one side by an aide or one of his sons. FDR used a car with specially designed hand controls, which provided him further mobility.Sony VAIO VPCZ13M9E/B Battery

In the public mind, Roosevelt has been by far the most famous polio survivor. However, his age at onset (39 years) and the majority of symptoms of his illness are more consistent with a diagnosis of Guillain–Barré syndrome.[51]Since Roosevelt's cerebrospinal fluid was not examined, the cause may never be known for certain.Sony VAIO VPCZ13V9E/X Battery

Governor of New York, 1929–1932

Roosevelt maintained contacts and mended fences with the Democratic Party during the 1920s, especially in New York. Although he initially had made his name as an opponent of New York City's Tammany Hall machine, Roosevelt moderated his stance against that group as well.Sony VAIO VPCZ13Z9E/X Battery

He helped Alfred E. Smith win the election for governor of New York in 1922, and was even a strong supporter of Smith against his cousin, Republican Theodore Roosevelt, Jr. in 1924.[53]Roosevelt gave nominating speeches for Smith at the 1924 and 1928 Democratic conventions.Sony VAIO VPCZZZHJ Battery

As the Democratic Party presidential nominee in the 1928 election, Smith in turn asked Roosevelt to run for governor in the state election. Roosevelt was nominated by the Democrats by acclamation. While Smith lost the Presidency in a landslide, and was even defeated in his home state, Roosevelt was narrowly elected governor, by a one percent margin.Sony VAIO VPZ117 Battery

As a reform governor, he established a number of new social programs, and he was advised by Frances Perkins and Harry Hopkins.

In May 1930, as he began his run for a second term, Roosevelt reiterated his doctrine from the campaign two years before:Sony VAIO VPZ118 Battery

"that progressive government by its very terms, must be a living and growing thing, that the battle for it is never ending and that if we let up for one single moment or one single year, not merely do we stand still but we fall back in the march of civilization."Sony VAIO VPZ119 Battery

In this campaign for re-election, Roosevelt needed the good will of the Tammany Hall machine in New York City to succeed; however, his Republican opponent, Charles H. Tuttle, used Roosevelt's connection with Tammany Hall's corruption as an election issue.Sony VPCM11M1E/B Battery

As the election approached, Roosevelt began preemptive efforts by initiating investigations of the sale of judicial offices. He was directly involved, as he had made a routine short term court appointment of a Tammany Hall man, who was alleged to have paid Tammany $30,000 for the position.Sony VPCM11M1E/W Battery

His Republican opponent, however, could not overcome the public's criticism of his party for current economic distress, and Roosevelt was elected to a second term by a margin of fourteen percent.

1932 presidential election

Roosevelt's strong base in the most populous state made him an obvious candidate for the Democratic nomination, which was hotly contested in light of incumbent Herbert Hoover's vulnerability in the1932 election.Sony VPCM12M1E/L Battery

Al Smith was supported by some city bosses, but had lost control of the New York Democratic party to Roosevelt. Roosevelt built his own national coalition with personal allies such as newspaper magnate William Randolph Hearst, Irish leader Joseph P. Kennedy, Sr., and California leader William Gibbs McAdoo.Sony VPCM12M1E/P Battery

When Texas leader John Nance Garner switched to FDR, he was given the vice-presidential nomination.

In his acceptance speech, Roosevelt declared:I pledge you, I pledge myself to a new deal for the American people... This is more than a political campaign. It is a call to arms.Sony VPCM12M1E/W Battery

The election campaign was conducted under the shadow of the Great Depression in the United States, and the new alliances which it created. Roosevelt and the Democratic Party mobilized the expanded ranks of the poor as well as organized labor, ethnic minorities, urbanites, and Southern whites, crafting the New Deal coalition.Sony VPCM13M1E/L Battery

Economist Marriner Eccles observed that "given later developments, the campaign speeches often read like a giant misprint, in which Roosevelt and Hoover speak each other's lines." Roosevelt denounced Hoover's failures to restore prosperity or even halt the downward slide, and he ridiculed Hoover's huge deficits.Sony VPCM13M1E/P Battery

Roosevelt campaigned on the Democratic platform advocating "immediate and drastic reductions of all public expenditures," "abolishing useless commissions and offices, consolidating departments and bureaus, and eliminating extravagances" and for a "sound currency to be maintained at all hazards.Sony VPCM13M1E/W Battery

" On September 23, Roosevelt made the gloomy evaluation that, "Our industrial plant is built; the problem just now is whether under existing conditions it is not overbuilt. Our last frontier has long since been reached." Hoover damned that pessimism as a denial of "the promise of American life ... the counsel of despair."Sony VAIO VGN-SR11M Battery

The prohibition issue solidified the wet vote for Roosevelt, who noted that repeal would bring in new tax revenues.

Roosevelt won 57% of the vote and carried all but six states. Historians and political scientists consider the 1932-36 elections a realigning election that created a new majority coalition for the Democrats,Sony VAIO VGN-SR11MR Battery

one made up of organized labor, blacks, and ethnic Americans such as Italian-Americans, Polish-Americans and Jews. Thus, this transformed American politics and starting what is called the "New Deal Party System" or (by political scientists) the Fifth Party System.Sony VAIO VGN-SR140D Battery

After the election, Roosevelt refused Hoover's requests for a meeting to develop a joint program to stop the downward spiral and calm investors, claiming publicly it would tie his hands, and that Hoover had all the power to act if necessary. Unofficially, he told reporters that "it is not my baby".Sony VAIO VGN-SR140D/B Battery

The economy spiraled downward until the banking system began a complete nationwide shutdown as Hoover's term ended. In February 1933, Roosevelt escaped an assassination attempt byGiuseppe Zangara (whose shots killed Chicago Mayor Anton Cermak sitting alongside).Sony VAIO VGN-SR140D/P Battery

Roosevelt leaned heavily on his "Brain Trust" of academic advisors, especially Raymond Moley when designing his policies; he offered cabinet positions to numerous candidates, but some declined. The cabinet member with the strongest independent base was Cordell Hull at State.Sony VAIO VGN-SR140D/S Battery

William Hartman Woodin – at Treasury – was soon replaced by the much more powerful Henry Morgenthau, Jr.

First term, 1933–1937

When Roosevelt was inaugurated March 4, 1933 (32 days after Hitler was appointed Chancellor of Germany), the U.S. was at the nadir of the worst depression in its history.Sony VAIO VGN-SR140E Battery

A quarter of the workforce was unemployed. Farmers were in deep trouble as prices fell by 60%. Industrial production had fallen by more than half since 1929. Two million were homeless. By the evening of March 4, 32 of the 48 states, as well as the District of Columbia had closed their banks.Sony VAIO VGN-SR140E/B Battery

The New York Federal Reserve Bank was unable to open on the 5th, as huge sums had been withdrawn by panicky customers in previous days. Beginning with his inauguration address, Roosevelt began blaming the economic crisis on bankers and financiers, the quest for profit, and the self-interest basis of capitalism:Sony VAIO VGN-SR140E/P Battery

Primarily this is because rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.Sony VAIO VGN-SR140E/S Battery


True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence....Sony VAIO VGN-SR140N/S Battery

The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit.Sony VAIO VGN-SR165E/B Battery

Historians categorized Roosevelt's program as "relief, recovery and reform." Relief was urgently needed by tens of millions of unemployed. Recovery meant boosting the economy back to normal. Reform meant long-term fixes of what was wrong, especially with the financial and banking systems.Sony VAIO VGN-SR165E/P Battery

Roosevelt's series of radio talks, known as fireside chats, presented his proposals directly to the American public.[71]In 1934 FDR paid a visit to retired Justice Oliver Wendell Holmes, who mused about the President: "A second class intellect. But a first class temperament."Sony VAIO VGN-SR165E/S Battery

First New Deal, 1933–1934

Roosevelt's "First 100 Days" concentrated on the first part of his strategy: immediate relief. From March 9 to June 16, 1933, he sent Congress a record number of bills, all of which passed easily.Sony VAIO VGN-SR190EBJ Battery

To propose programs, Roosevelt relied on leading Senators such as George Norris, Robert F. Wagner and Hugo Black, as well as his Brain Trust of academic advisers. Like Hoover, he saw the Depression caused in part by people no longer spending or investing because they were afraid.Sony VAIO VGN-SR190EBQ Battery

His inauguration on March 4, 1933, occurred in the middle of a bank panic, hence the backdrop for his famous words: "The only thing we have to fear is fear itself." The very next day Congress passed the Emergency Banking Act which declared a "bank holiday" and announced a plan to allow banks to reopen.Sony VAIO VGN-SR190EEJ/C Battery

This was his first proposed step to recovery. To give Americans confidence in the banks, Roosevelt signed the Glass–Steagall Act that created the Federal Deposit Insurance Corporation (FDIC).Sony VAIO VGN-SR190NAB Battery

  • Relief measures included the continuation of Hoover's major relief program for the unemployed under the new name, Federal Emergency Relief Administration. The most popular of all New Deal agencies – and Roosevelt's favorite – was the Civilian Conservation Corps (CCC), which hired 250,000 unemployed young men to work on rural local projects.Sony VAIO VGN-SR190NBB Battery
  • Congress also gave the Federal Trade Commission broad new regulatory powers and provided mortgage relief to millions of farmers and homeowners. Roosevelt expanded a Hoover agency, the Reconstruction Finance Corporation, making it a major source of financing for railroads and industry.Sony VAIO VGN-SR190NDB Battery
  • Roosevelt made agricultural relief a high priority and set up the first Agricultural Adjustment Administration (AAA). The AAA tried to force higher prices for commodities by paying farmers to take land out of crops and to cut herds.
  • Reform of the economy was the goal of the National Industrial Recovery Act (NIRA) of 1933.Sony VAIO VGN-SR190NEB Battery
  • It tried to end cutthroat competition by forcing industries to come up with codes that established the rules of operation for all firms within specific industries, such as minimum prices, agreements not to compete, and production restrictions. Industry leaders negotiated the codes which were then approved by NIRA officials.Sony VAIO VGN-SR190NGB Battery
  • Industry needed to raise wages as a condition for approval. Provisions encouraged unions and suspended anti-trust laws. The NIRA was found to be unconstitutional by unanimous decision of the U.S. Supreme Court on May 27, 1935. Roosevelt opposed the decision, saying "The fundamental purposes and principles of the NIRA are sound.Sony VAIO VGN-SR190PAB Battery
  • To abandon them is unthinkable. It would spell the return to industrial and labor chaos."[74]In 1933, major new banking regulations were passed. In 1934, the Securities and Exchange Commission was created to regulate Wall Street, with 1932 campaign fundraiser Joseph P. Kennedy in charge.Sony VAIO VGN-SR190PCB Battery
  • Recovery was pursued through "pump-priming" (that is, federal spending). The NIRA included $3.3 billion of spending through the Public Works Administration to stimulate the economy, which was to be handled by Interior Secretary Harold Ickes.Sony VAIO VGN-SR190PFB Battery
  • Roosevelt worked with Republican Senator George Norris to create the largest government-owned industrial enterprise in American history, theTennessee Valley Authority (TVA), which built dams and power stations, controlled floods, and modernized agriculture and home conditions in the poverty-stricken Tennessee Valley.Sony VAIO VGN-SR19VN Battery
  • The repeal ofprohibition also brought in new tax revenues and helped Roosevelt keep a major campaign promise.
  • Executive Order 6102 made all privately held gold of American citizens property of the US Treasury. The goal was to counter the deflation which was paralyzing the economy.Sony VAIO VGN-SR19VN Battery

Roosevelt tried to keep his campaign promise by cutting the federal budget, including a reduction in military spending from $752 million in 1932 to $531 million in 1934 and a 40% cuts in spending on veterans' benefits. He removed 500,000 veterans and widows from the pension rolls and reduced benefits for the remainder.Sony VAIO VGN-SR19VRN Battery

He cut the salaries of federal employees and reduced spending on research and education. On the other hand, veterans groups like the American Legion and the Veterans of Foreign Wars won their campaign to transform their benefits from payments due in 1945 to immediate cash when Congress overrode the President's veto and passed the Bonus Act in January 1936.Sony VAIO VGN-SR19XN Battery

Roosevelt also kept his promise to push for repeal of Prohibition. In April 1933, he issued an Executive Order redefining 3.2% alcohol as the maximum allowed. That order was preceded by Congressional action in the drafting and passage of the 21st Amendment, which was ratified later that year.Sony VAIO VGN-SR19XN Battery

Second New Deal, 1935–1936

After the 1934 Congressional elections, which gave Roosevelt large majorities in both houses, there was a fresh surge of New Deal legislation. These measures included the Works Progress Administration (WPA) which set up a national relief agency that employed two million family heads.Sony VAIO VGN-SR210J/S Battery

However, even at the height of WPA employment in 1938, unemployment was still 12.5% according to figures from Michael Darby.The Social Security Act, established Social Security and promised economic security for the elderly, the poor and the sick.Sony VAIO VGN-SR21M/S Battery

Senator Robert Wagner wrote the Wagner Act, which officially became the National Labor Relations Act. The act established the federal rights of workers to organize unions, to engage in collective bargaining, and to take part in strikes.Sony VAIO VGN-SR21RM/H Battery

While the First New Deal of 1933 had broad support from most sectors, the Second New Deal challenged the business community. Conservative Democrats, led by Al Smith, fought back with theAmerican Liberty League, savagely attacking Roosevelt and equating him with Marx and Lenin.Sony VAIO VGN-SR21RM/S Battery

But Smith overplayed his hand, and his boisterous rhetoric let Roosevelt isolate his opponents and identify them with the wealthy vested interests that opposed the New Deal, setting Roosevelt up for the 1936 landslide.By contrast, the labor unions, energized by the Wagner Act,Sony VAIO VGN-SR220J/B Battery

signed up millions of new members and became a major backer of Roosevelt's reelections in 1936, 1940 and 1944.

Some historians disagree with the prevailing belief that there were two New Deals in the Roosevelt administration.Sony VAIO VGN-SR220J/H Battery

They argue that there is no evidence of any such blueprint for Roosevelt's programs; these contrarians assert that abundant evidence shows FDR's policies were formulated and executed haphazardly, and fluctuated in the hands of a revolving cast of presidential advisors.Sony VAIO VGN-SR240J/B Battery

Biographer James M. Burns as well indicates Roosevelt's policy decisions were replete with sudden reversals, and that FDR was "like the general of a guerilla army, fighting blindly through a jungle." Schweikart and Allen maintain that the two New Deals concept serves well to explain away the ineffectiveness of FDR's programs to improve the nation's economy and contradictory decisions by FDR in his first six years in office.Sony VAIO VGN-SR240N/B Battery

Economic environment

Government spending increased from 8.0% of gross national product (GNP) under Hoover in 1932 to 10.2% of the GNP in 1936. The national debt as a percentage of the GNP had more that doubled under Hoover from 16% to 40% of the GNP in early 1933.Sony VAIO VGN-SR290JTH Battery

It held steady at close to 40% as late as fall 1941, then grew rapidly during the war, as shown on chart 1.

Deficit spending had been recommended by some economists, most notably by John Maynard Keynes of Britain. The GNP was 34% higher in 1936 than in 1932 and 58% higher in 1940 on the eve of war.Sony VAIO VGN-SR290JTJ Battery

That is, the economy grew 58% from 1932 to 1940 in 8 years of peacetime, and then grew 56% from 1940 to 1945 in 5 years of wartime. However, the economic recovery did not absorb all the unemployment Roosevelt inherited. Unemployment fell dramatically in Roosevelt's first term, from 25% when he took office to 14.3% in 1937.Sony VAIO VGN-SR290JTQ Battery

Afterward, however, it increased to 19.0% in 1938 ('a depression within a depression') and 17.2% in 1939, and stayed high until it almost vanished during World War II when the previously unemployed wereconscripted, taking them out of the potential labor supply number.Sony VAIO VGN-SR290JVB/C Battery

During the war, the economy operated under such different conditions that comparison with peacetime is impossible. However, Roosevelt saw the New Deal policies as central to his legacy, and in his 1944 State of the Union Address, he advocated that Americans should think of basic economic rights as a Second Bill of Rights.Sony VAIO VGN-SR290JVH/C Battery

The U.S. economy grew rapidly during Roosevelt's term. However, coming out of the depression, this growth was accompanied by continuing high levels of unemployment; as the median joblessness rate during the New Deal was 17.2%. Throughout his entire term, including the war years, average unemployment was 13%.Sony VAIO VGN-SR290NTB Battery

Total employment during Roosevelt's term expanded by 18.31 million jobs, with an average annual increase in jobs during his administration of 5.3%.

Roosevelt did not raise income taxes before World War II began; however payroll taxes were also introduced to fund the newSocial Security program in 1937.Sony VAIO VGN-SR29VN/S Battery

He also got Congress to spend more on many various programs and projects never before seen in American history. However, under the revenue pressures brought on by the depression, most states added or increased taxes, including sales as well as income taxes.Sony VAIO VGN-SR29XN/S Battery

Roosevelt's proposal for new taxes on corporate savings were highly controversial in 1936–37, and were rejected by Congress. During the war he pushed for even higher income tax rates for individuals (reaching a marginal tax rate of 91%) and corporations and a cap on high salaries for executives.Sony VAIO VGN-SR2RVN/S Battery

He also issued Executive Order 9250 in October 1942, later to be rescinded by Congress, which raised the marginal tax rate for salaries exceeding $25,000 (after tax) to 100%, thereby limiting salaries to $25,000 (about $337,000 today).Sony VAIO VGN-SR390NAB Battery

To fund the war, Congress broadened the base so that almost every employee paid federal income taxes, and introduced withholding taxes in 1943.

Foreign policy, 1933–37

The rejection of the League of Nations treaty in 1919 marked the dominance of isolationism from world organizations in American foreign policy.Sony VAIO VGN-SR390NAH Battery

Despite Roosevelt's Wilsonian background, he andSecretary of State Cordell Hull acted with great care not to provoke isolationist sentiment. Roosevelt's "bombshell" message to the world monetary conference in 1933 effectively ended any major efforts by the w

orld powers to collaborate on ending the worldwide depression, and allowed Roosevelt a free hand in economic policy.Sony VAIO VGN-SR41M/P Battery

The main foreign policy initiative of Roosevelt's first term was the Good Neighbor Policy, which was a re-evaluation of U.S. policy towards Latin America. Since the Monroe Doctrine of 1823, this area had been seen as an American sphere of influence.Sony VAIO VGN-SR41M/S Battery

American forces were withdrawn from Haiti, and new treaties with Cuba and Panama ended their status as United States protectorates. In December 1933, Roosevelt signed the Montevideo Convention on the Rights and Duties of States, renouncing the right to intervene unilaterally in the affairs of Latin American countries.Sony VAIO VGN-SR49VN/H Battery

The isolationist movement was bolstered in the early to mid 1930's by U.S. Senator Gerald Nye and others who succeeded in their effort to stop the "merchants of death" in the U.S. from selling arms abroad. This effort took the form of the Neutrality Acts;Sony VAIO VGN-SR51B/P Battery

the president asked for, but was refused, a provision to give him the discretion to allow the sale of arms to victims of aggression. In the interim, Italy and Mussolini proceeded to overcome Ethiopia and the Italians joined the Germans in co-opting a successful revolt in Spain.Sony VAIO VGN-SR51B/S Battery

In 1936 Germany and Japan signed their Anti-Comintern Pact, allowing their Axis to develop united strategies. And thus had the congress passed and the president signed a mandatory arms embargo at a time when dictators in Europe and Asia were girding for world war.Sony VAIO VGN-SR51MF Battery

Landslide re-election, 1936

In the 1936 presidential election, Roosevelt campaigned on his New Deal programs against Kansas Governor Alf Landon, who accepted much of the New Deal but objected that it was hostile to business and involved too much waste.Sony VAIO VGN-SR51MF/P Battery

Roosevelt and Garner won 60.8% of the vote and carried every state except Maine and Vermont. The New Deal Democrats won even larger majorities in Congress. Roosevelt was backed by a coalition of voters which included traditional Democrats across the country, small farmers, the "Solid South",Sony VAIO VGN-SR51MF/S Battery

Catholics, big city political machines, labor unions, northern African Americans, Jews, intellectuals and political liberals. This coalition, frequently referred to as the New Deal coalition, remained largely intact for the Democratic Party until the 1960s.Sony VAIO VGN-SR51MF/W Battery

Roosevelt's popularity meant massive volumes of correspondence in need of reply. He once told his son James, "Two short sentences will generally answer any known letter."

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