In reaction to the financial conditions of the Great Depression
called for a 4-day mandatory shutdown of U.S. banks for inspections before they could be reopened
wanted to close banks that would cast us further into the depression
Civilian Conservation Corps (CCC)
Apublic work program for unemployed, unmarried men from releif families
ages 18-25
provided manual labor jobs related to the conservation and development of natural resources
in order to provide jobs for men from relief families who couldn't find jobs and provide a program to restore the nation's natural resources
Federal Emergency Relief Administration (FERA)
gave cash grants to states to increase state relief agencies
to work with the state gov to provide federal grants for relief
Agricultural Adjustment (AAA)
allowed Secretary of Agriculture to make subsidy payments to farms
reduced their productions of cotton, wheat, coren, rice, tobacco, and dairy products
When the legislation was amended, also reduced beets, cane sugar, barley, peanuts, rye, flax, beef, and dairy cattle
in order to restore purchasing power of American farmers to pre-WWI levels and to stop overproduction
Tennessee Valley Act (TVA)
Gave Congress authority to aquire, construct, and operate dams, manufacture and distribute nitrate and fertilizer, generate and sell electric power, assist in rural electrification, help control floods, prevent soil erosion, and improve economic and social conditions
in 7 states
in order to maintain land in Alabama for agricultural and industrial development, to improve navigation on the Tennessee River, and to control destructive flood water
not popular
Home Owners Refinancing Act (HOLC)
Sold bonds to lenders in exchange for the home mortgages
Used to extend loans from shorter loans to longer loans
In order to provide funds to be used in refinancing first mortgages, at low interest rates, on homes evaluated at less than $20,000
National Industry Recovery Act (NIRA)
Set up a systm of industrial self-government by drawing up codes of fair trade practices for each industry
also established working conditions and abolished child labor
workers could form unions and engage in collective bargaining
in order to make structure changes in industry and make unemplyment esaier with a public works program
Public Works Administration (PWA)
Distributed money for public works programs
in order to promote work relief, provide employment, stabalize purchasing power, and help revive economy
Glass-Steagall Banking Reform Act (FDIC)
seperated commercial and investment banking and restricted the use of bank credit for speculative purposes
Allowed National Banks to establish branch banks
Expanded the Federal Reserve System
Set-up the Federal Deposit Insurance Corporation
in order to provide deposit insurance guarenteeing the saftey of depositor's accounts in member banks
President
Frankling Roosevelt (FDR) took over presidency from Hoover
Civil Works Administration (CWA)
Provided work relief for over 4 million unemployed men
developed one-time projects, such as the construction fo roads, schools, and parks
intended to carry the nation over a cruitial winter while other programs were being developedand planned
also in order to help sustain the needy with FERA
National Housing Act (FHA)
Insured loans made by banks and other private lenders for home building and buying
in order to improve housing standards and conditions, provide an an adequate home financing system through insurance of mortgage loans and to stabalize the mortgage market
Authorization for Securities and Exchange Commision (SEC)
regulated the securities in industry, the nation's stock and options exchanges, and other electronic securities markets
It also enforces federal security laws
in order to ensure that buyers of securities recieved complete and accuate info before they invest
Resettlement Administration
Attempted, through loans, to help farmers cultivate submarginal soil and resettle on better land
in order to move struggling urban and rural families to communities planned by the federal government
Works Progress Administration (WPA)
employed millions of unemployed people to carry out public service
in order to provide people with jobs
Wagner Act
established the National Labor Relations Board (WLRB)
Authorized to investigate unfair labor practices and to issue cease and desist orders
Also empowered to supervise elections to determine the bargaining agent for all the employees in the buisiness
in order to protect the rights of employees
Social Security Act
Provided for old age, survivors, and disability insurance
established a system of unemployed compensation
Employers and employees contributed to the pension system by paying a payroll tax
in order to raise revenue and provide for the general welfare
Soil Conservation Act
Allowed the government to pay farmers to reduce production so as the "conserve soil" and prevent erosion
in order to improve and preerve the national soil reserve
Fair Labor Standards Act (FLSA)
Introduced a maximum 44-hour 7-day workweek
Established a national minimum wage
Established a national minimum wage
Guarenteed "time-and-a-half" for overtime in certain jobs
prohibited most emplyment of minors in "oppresive child labor"
in order to provide labor reforms and improve labor conditions