CHAPTER 9

THE SECOND NEW DEAL

9.1 OPPOSITION FROM THE RIGHT AND LEFT

9.1.1 Criticism of the New Deal

The partial economic recovery brought about by the first New Deal provoked criticism from the right for doing too much, and from the left for doing too little. Conservatives and businessmen criticized the deficit financing, which accounted for about half of the federal budget, federal spending for relief, and government regulation of business. They frequently charged that the New Deal was socialist or communist in form, and some conservative writers labeled the wealthy Roosevelt “a traitor to his class.” People on the lower end of the economic scale thought that the New Deal, especially the NRA, was too favorable to big business. Small business people and union members complained that the NRA codes gave control of industry to the big firms, while farmers complained that the NRA set prices too high. The elderly thought that nothing had been done to help them. Several million people who were or had been tenant farmers or sharecroppers were badly hurt. When the AAA paid farmers to take land out of production, the landowners took the money while the tenants and sharecroppers lost their livelihood. Several opposition organizations and persons were particularly active in opposing Roosevelt’s policies:

  1. The American Liberty League was formed in 1934 by conservatives to defend business interests and promote the open shop. While many of its members were Republicans and it was financed primarily by the Du Pont family, it also attracted conservative Democrats like Alfred E. Smith and John W. Davis. It supported conservative congressional candidates of both parties in the election of 1934 with little success.
  2. The Old Age Revolving Pension Plan was advanced by Dr. Francis E. Townsend, a retired California physician. The plan proposed that every retired person over sixty receive a pension of $200 a month, about double the average worker’s salary, with the requirement that the money be spent within the month. The plan would be funded by a national gross sales tax. Townsend claimed that it would end the depression by putting money into circulation, but economists thought it fiscally impossible. Some three to five million older Americans joined Townsend Clubs.
  3. The Share Our Wealth Society was founded in 1934 by Senator Huey “The Kingfish” Long of Louisiana. Long was a populist demagogue who was elected governor of Louisiana in 1928, established a practical dictatorship over the state, and moved to the United States Senate in 1930. He supported Roosevelt in 1932, but then broke with him, calling him a tool of Wall Street for not doing more to combat the depression. Long called for the confiscation of all fortunes over five million dollars and a tax of one hundred percent on annual incomes over one million. With the money the government would provide subsidies so that every family would have a “homestead” of house, car, and furnishings worth at least $5,000, a minimum annual income of $2,000, and free college education for those who wanted it. His slogan was “Every Man a King.” Long talked of running for president in 1936, and published a book entitled My First Days in the White House. His society had over five million members when he was assassinated on the steps of the Louisiana Capitol on September 8, 1935. The Reverend Gerald L.K. Smith appointed himself Long’s successor as head of the society, but he lacked Long’s ability.
  4. The National Union for Social Justice was headed by Father Charles E. Coughlin, a Catholic priest in Royal Oak, Michigan, who had a weekly radio program. Beginning as a religious broadcast in 1926, Coughlin turned to politics and finance, and attracted an audience of millions of many faiths. He supported Roosevelt in 1932, but then turned against him. He advocated an inflationary currency and was anti-Semitic, but beyond that his fascist-like program was not clearly defined.

9.2 THE SECOND NEW DEAL BEGINS

9.2.2 Legislation and Programs of the Second New Deal

The Works Progress Administration (WPA) was started in May 1935 following the passage of the Emergency Relief Appropriations Act of April 1935. Headed by Harry Hopkins, the WPA employed people from the relief rolls for thirty hours of work a week at pay double the relief payment but less than private employment. There was not enough money to hire all of the unemployed, and the numbers varied from time to time, but an average of 2.1 million people per month were employed. By the end of the program in 1941, 8.5 million people had worked at some time for the WPA at a total cost of $11.4 billion. Most of the projects undertaken were in construction. The WPA built hundreds of thousands of miles of streets and roads, and thousands of schools, hospitals, parks, airports, playgrounds, and other facilities. Hand work was emphasized so that the money would go for pay rather than equipment, provoking much criticism for inefficiency. Unemployed artists painted murals in public buildings; actors, musicians, and dancers performed in poor neighborhoods; and writers compiled guide books and local histories.

 

The National Youth Administration (NYA) was established as part of the WPA in June 1935 to provide part-time jobs for high school and college students to enable them to stay in school, and to help young adults not in school to find jobs.

 

The Rural Electrification Administration (REA) was created in May 1935 to provide loans and WPA labor to electric cooperatives to build lines into rural areas not served by private companies.

 

The Resettlement Administration (RA) was created in the Agriculture Department in May 1935 under Rexford Tugwell. It relocated destitute families from seemingly hopeless situations to new rural homestead communities or to suburban greenbelt towns.

 

The National Labor Relations or Wagner Act was passed in May 1935 to replace the provisions of Section 7a of the NIRA. It reaffirmed labor’s right to unionize, prohibited unfair labor practices, and created the National Labor Relations Board (NLRB) to oversee and insure fairness in labor-management relations.

 

The Social Security Act was passed in August 1935. It established a retirement plan for persons over age sixty-five funded by a tax on wages paid equally by employee and employer. The first benefits, ranging from $10 to $85 per month, were paid in 1942. Another provision of the act had the effect of forcing the states to initiate unemployment insurance programs. It imposed a payroll tax on employers which went to the state if it had an insurance program, and to the federal government if it did not. The act also provided matching funds to the states for aid to the blind, handicapped, and dependent children, and for public health services. The American Social Security system was limited compared with those of other industrialized nations, and millions of workers were not covered by it. Nonetheless, it marked a major change in American policy.

 

The Banking Act of 1935 created a strong central Board of Governors of the Federal Reserve System with broad powers over the operations of the regional banks.

 

The Public Utility Holding Company or Wheeler-Rayburn Act of 1935 empowered the Securities and Exchange Commission to restrict public utility holding companies to one natural region and to eliminate duplicate holding companies. The Federal Power Commission was created to regulate interstate electrical power rates and activities, and the Federal Trade Commission received the same kind of power over the natural gas companies.

 

The Revenue Act of 1935 increased income taxes on higher incomes, and also inheritance, large gift, and capital gains taxes.

 

The Motor Carrier Act of 1935 extended the regulatory authority of the Interstate Commerce Commission to cover interstate trucking lines.

9.3 THE ELECTION OF 1936

9.4 THE LAST YEARS OF THE NEW DEAL

9.4.3 Legislation of the Late New Deal

With the threat of adverse Supreme Court rulings removed, Roosevelt rounded out his program during the late thirties:

  1. The Bankhead-jones Farm Tenancy Act, passed in July 1937, created the Farm Security Administration (FSA) to replace the Resettlement Administration. The FSA continued the homestead projects, and loaned money to farmers to purchase farms, lease land, and buy equipment. It also set up camps for migrant workers and established rural health care programs.
  2. The National Housing or Wagner-Steagall Act, passed in September 1937, established the United States Housing Authority (USHA) which could borrow money to lend to local agencies for public housing projects. By 1941 it had loaned $750 million for 511 projects.
  3. The Second Agricultural Adjustment Act of February 1938 appropriated funds for soil conservation payments to farmers who would remove land from production. The law also empowered the Agriculture Department to impose market quotas to prevent surpluses in cotton, wheat, corn, tobacco, and rice if two-thirds of the farmers producing that commodity agreed.
  4. The Fair Labor Standards Act, popularly called the minimum wage law, was passed in June 1938. It provided for a minimum wage of 25 cents an hour which would gradually rise to 40 cents, and a gradual reduction to a work week of 40 hours, with time and a half for overtime. Workers in small businesses and in public and nonprofit employment were not covered. The law also prohibited the shipment in interstate commerce of manufactured goods on which children under 16 worked.