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NEW DEAL

Name Why What Other


Emergency • Stop the panic • Protect larger banks from
Banking Act – of the bank being dragged down by
1933 failures weakness of smaller ones
• Provided for Treasury Dept.
inspection of all banks before
that would be allowed to
reopen, federal assistance to
troubled institutions, thorough
reorganization of those in the
greatest difficulty
Economy Act - • Designed to • Proposed to balance the
1933 convince federal budget by cutting
conservative salaries of gov. employees
Americans that and reducing pensions to
the federal gov. veterans
was safe
Agricultural • “domestic allotment” – • Prices for
Adjustment Act – producers of seven commodities and
May 1933 commodities would decide on gross income
production limits for crops rose over the
• Gov. through Agricultural years
Adjustment Adm. (AAA) would
tell farmers how much they
should plant and pay them
subsidies for leaving some of
their land
• Favored larger farms –
dispossessed some struggling
farmers
Soil Conservation • Supreme Court • Permitted gov. to pay farmers
and Allotment Act argued that to reduce production so as
- 1936 Agricultural Act to “conserve soil”, prevent
had no erosion, and accomplish other
constitutional goals
authority to • Landlords required to share
require farmers payments that received for
to limit cutting back production with
production those who worked - evaded
Resettlement • Provided loans to help • Never moved
Adm.– 1935 & farmers cultivating soil to more than
Farm Security relocate to better lands thousand farmers
Adm. – 1937
Rural Electrification • Made electric power available
Administration – to thousands of farmers
1935 through utility cooperatives
National Industrial • Relax antitrust • Business people would have • One of most
Recovery Act – provisions to make recognition to labor complicated pieces
June 1933 to ensure income would rise of legislation in
w/ prices history
• Program of public works
spending designed to pump
needed funds to economy
NRA • “blanket code” – minimum • Director – Hugh
wage of 30-40 cents/hr, max S. Johnson
workweek of 35-40 hrs, • Codes hastily and
abolition of child labor poorly written –
(claimed would raise administration
consumer purchase, increase beyond capacity
employment, eliminate of federal officials
sweatshops w/ no prior
• NRA Blue Eagle – symbol of experience
recognition • Large producers
• Industrial codes – no co. dominated code-
would lower prices or wages writing process –
in its search for competitive made advantage
advantage, included to themselves and
agreements on maintaining not smaller firms
employment and production
NRA (continued…) • Attempts to increase consumer purchase did not progress quickly as effort to
raise prices
• Promised workers right to form union but no enforcement in recognition
• Public Works Adm. (PWA), established to administer spending programs only
gradually allowed funds out – directed by Secretary of Interior Harold Ickes
• Production declined and businessmen ignoring codes, employers defying NRA,
unions hostile
• Recovery Review Board, chaired by Clarence Darrow, reported that NRA was
dominated by big business and encouraging monopoly
Tennessee Valley • Public reformers • Complete dam at Muscle • Built dams and
Authority - 1933 wanted Shoal & build others in waterways,
development of region eliminated
nation’s water flooding, provided
• Generate and sell electricity
resources as electricity
to public
source of • Reluctant to
electric power • Redevelopment – stopping
challenge local
flooding, encouraging
• Urged completion customs and few
development of local
of dam at stands against
industries, supervising program
Muscle Shoals racial prejudice
for reforestation, helping
• 1932 – utility
farmers improve productivity
empire of
Samuel Insull
collapsed
Glass-Steagell Act • Gave gov. authority to curb
of June 1933 irresponsible speculation by
banks
• Establish Federal Deposit
Insurance Corp. which
guaranteed all bank deposits
up to $2500
Truth in Securities • Protect investor • Required corp. issuing new
Act of 1933 in the stock securities to provide full &
market accurate info about them to
public
Securities & • Police stock market • Indication of how
Exchange Corp. far the financial
(SEC) - 1934 establishment had
fallen in public
estimation
Federal Emergency • Relief and • Provided cash grants to prop • Harry Hopkins –
Relief Act (FERA) private org. and up bankrupt relief agencies administered
- 1933 state and local program
gov. were • Happry believed
unable to meet in “pump priming”
demand of – pumping money
unemployed and into economy
in desperate badly in need of
need of it and providing
assistance assistance to pple
Americans w/ nowhere else
to turn (ltr known
as Keynesianism)
Civil Works Adm. • FERA grants not • Put people to work on
(CWA) - 1933 sufficient enough temporary project
to pull country
through winter
Civilian • Provide employment to urban • Created series of
Conservation young men who could find camps in national
Corps. (CCC) - no jobs in cities and who parks and forests
1933 were raising fears of violence and other rural
• Advance the work of and wilderness
conservation and reforestation settings
Farm Credit Adm. • Mortgage relief • Refinanced 1/5 of all farm
was a pressing mortgages in US
need of millions
of indebted farm
owners
Frazier-Lemke • Enabled some farmers to • Despite such
Farm Bankruptcy regain their land even after efforts, by 1934
Act of 1933 foreclosure on their mortgages 25% of all
American farm
owners lost their
land
Home Owners’ • Mortgage relief • Refinanced the mortgages of
Loan Act – 1934 was a pressing more than 1 million
need of millions householders
of indebted
homeowners
Federal Housing • Insure mortgages for new
Adm. construction and home repairs
– combined effort to provide
relief with a programs to
stimulate lasting recovery of
construction industry
Holding Co. Act • Roosevelt was • break up great utilities
of 1935 (known willing to openly holding companies
as “death attack corporate
sentence bill”) interests

“soak the rich” • Series of tax reforms • Highest and most


scheme progressive peace-
• Undercut the appeal of Huey
Long’s Share-Our Wealth Plan time tax rates in
history
• Few people had
enough money to
qualify for bracket
and most able to
find ways to
avoid full tax
burden
• More imp.
Symbolically than
economically
National Labor • National • Provided workers with more • Created and led
Relations Act of Industrial federal protection than Section by Robert F.
1935 (Wagner Recovery Act 7(a) Wagner
Act) had problems – • Provided crucial enforcement
Section 7(a) mechanism, the National
Labor Relations Board (NLRB)
, which would power to
compel employers to
recognize and bargain with
legitimate unions
Social Securities • Imp. Members • Elderly, those who were
Act - 1935 of adm., such destitute began receiving up
as Secretary of to $15/month in federal
Labor Frances assistance
Perkins, had
• Pensions system – workers
been lobbying
and their employers could
for a system of
contribute by paying tax and
federally
which would provide them
sponsored social
with an incomes on
insurance for
elderly and retirement
unemployed • Created system of
unemployment insurance
• Provided aid to blind & other
handicapped pple &
dependent children
Works Progress • Social Security • Established a system of work • Much bigger than
Adm. (WPA) – Act was made relief for the unemployed earlier agencies,
1935 to fulfill long- size and budget
• Responsible for building or
range goals but
renovating 110,000 public • Federal Writers
some pple
buildings Project, Federal
needed
Arts Project,
immediate help
Federal Music
Project, Federal
Theatre Project
National Youth • Provided scholarship
Adm. - 1935 assistance to HS and
college-aged men and women
Emergency • Began federal sponsorship of • Cleared some of
Housing Division public housing nations slums and
of the Public built new housing
Works Adm. developments –
most priced too
high for those
who displaced by
slum clearance
United States • Gov. provided a substantial
Housing Authority amount of housing for truly
poor
Aid to Dependent • Designed to assist single • Program of Social
Children mothers Security
Temporary • And urge to • Investigate impact of • Representatives of
National Economic launch a new monop[oly on economy both houses if
Committee (TNEC) assault on Congress and of
monopoly several executive
• Roosevelt sent agencies
message to • Thurman Arnold –
Congress charged with
denouncing an enforcing federal
unjustifiable laws against
concentration of monopoly
economic power
and asking for
commission to
examine problem
Fair Labor • Created a national min. wage
Standards Act – and mandated 40 hr work
1938 week
Other New Deal • Banking Act
Legislations
• Federal Securities Act
• Public Utilities Holding Co. Act
• Revenue Act (wealth tax)
• National Housing Act
• Second Agricultural Adjustument Act

• Executive Reorganization Act

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