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A more direct political threat to Roosevelt came from muckraker Upton Sinclair, who pursued the California governorship in 1934 through a campaign based upon criticism of the New Deal’s shortcomings. In his “End Poverty in California” program, Sinclair called for a progressive income tax, a pension program for the elderly, and state seizure of factories and farms where property taxes remained unpaid. The state would then offer jobs to the unemployed to work those farms and factories in a cooperative mode. Although Sinclair lost the election to his Republican opponent, he did draw local and national attention to several of his ideas.

The biggest threat to the president, however, came from corrupt but beloved Louisiana senator Huey “Kingfish” Long ( [link] ). His disapproval of Roosevelt came in part from his own ambitions for higher office; Long stated that the president was not doing enough to help people and proposed his own Share Our Wealth program. Under this plan, Long recommended the liquidation of all large personal fortunes in order to fund direct payments to less fortunate Americans. He foresaw giving $5,000 to every family, $2,500 to every worker, as well as a series of elderly pensions and education funds. Despite his questionable math, which numerous economists quickly pointed out rendered his program unworkable, by 1935, Long had a significant following of over four million people. If he had not been assassinated by the son-in-law of a local political rival, he may well have been a contender against Roosevelt for the 1936 presidential nomination.

A photograph depicts Huey Long speaking and gesturing with his hands.
Huey P. Long was a charismatic populist and governor of Louisiana from 1928 to 1932. In 1932, he became a member of the U.S. Senate and would have been a serious rival for Roosevelt in the 1936 presidential election if his life had not been cut short by an assassin’s bullet.

Answering the challenge

Roosevelt recognized that some of the criticisms of the New Deal were valid. Although he was still reeling from the Supreme Court’s invalidation of key statutes, he decided to face his re-election bid in 1936 by unveiling another wave of legislation that he dubbed the Second New Deal. In the first week of June 1935, Roosevelt called congressional leaders into the White House and gave them a list of “must-pass” legislation that he wanted before they adjourned for the summer. Whereas the policies of the first hundred days may have shored up public confidence and stopped the most drastic of the problems, the second hundred days changed the face of America for the next sixty years.

The Banking Act of 1935 was the most far-reaching revision of banking laws since the creation of the Federal Reserve System in 1914. Previously, regional reserve banks, particularly the New York Reserve Bank—controlled by the powerful Morgan and Rockefeller families—had dominated policy-making at the Federal Reserve. Under the new system, there would be a seven-member board of governors to oversee regional banks. They would have control over reserve requirements, discount rates, board member selection, and more. Not surprisingly, this new board kept initial interest rates quite low, allowing the federal government to borrow billions of dollars of additional cash to fund major relief and recovery programs.

Questions & Answers

Isnt there any laws in place for gun control?
Ryan Reply
How would you characterize the former president’s reaction? What do you think he means by writing that the Missouri Compromise line “is a reprieve only, not a final sentence”?
Tonda Reply
Compare and contrast the steamboats of the antebellum years with technologies today. In your estimation, what modern technology compares to steamboats in its transformative power?
Tonda Reply
airplanes to jets. Another would be electric trains.
Darren
I would say the Internal Combustion engine was as if not more transformative the the Steam power which it replaced. The ability of the Steamboat to rapidly move large amounts of goods through the water ways that weave there way from town to town increased our fledgling country's economy. I can draw direct coraleris with the National highway system built during the 1950's that were soon clogged with Transport trucks using I.C.E.
Pancho
what are the impact of the missionaries on indigenous knowledge of black communities
Don Reply
What were the initial issues that lead to the introduction of legislation
Benedicta Reply
what is the main title of franklin D roosevelt
Allan Reply
the president of the USA
Yangduk
who abolish slavery
ABDOURAHMAN Reply
Abraham Lincoln
Yangduk
who was the fists empire in americans
Alex Reply
who organized the most massive attack in American History, which caused the Germans to begin to retreat in September 1918?
Jmora Reply
"Black Jack" Pershing
Victor
Is there answers anywhere to all of the critical thinking questions?
Heather Reply
What were the direct causes of the civil war
Trinity Reply
How did slavery issues effect the war
Trinity
How were politics involved
Trinity
north wanted to unify the south
Maleek
south wanted independence
Maleek
freeing slaves was just a way to recruit black soldiers to fight for north
Maleek
Lincoln couldn't let the south separate from the union , agriculture was way to valuable
Maleek
South felt North was opposing their interests and would be better off as a separate nation
Victor
progressive reforms under Theodore Roosevelt
Karpi Reply
TR was determined to pursue the public interest
Victor
what was the main thing suposed to happen when the tea party
Gavin Reply
Which plan resolved the issue of representation for the U.S. Constitution?
Nichole Reply
The plan which became known as the seventeenth amendmet.
WIlliam
amendmet because not an article of bill of rights.
WIlliam
Which of the primary features of grassroots Progressivism was the most essential to the continued growth
Ren Reply
The institution of a steady currency.
WIlliam

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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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