Great Depression: New Deal Programs
Glass-Steagall Act
(Banking Act of 1933) - Established the Federal Deposit Insurance Corporation and included banking reforms, some designed to control speculation. Repealed in 1999, opening the door to scandals involving banks and stock investment companies.
Emergency Banking Relief Act
(FDR) 1933 , gave the President power over the banking system and set up a system by which banks would be reorganized or reopened., First Hundred Days
Agricultural Adjustment Act
(FDR) 1933 and 1938 , Helped farmers meet mortgages. Created by Congress in 1933 as part of the New Deal this agency attempted to restrict agricultural production by paying farmers subsidies to take land out of production. Eventually declared unconstitutional. First one declared unconstitutional so was revised and second one was passed.
Social Security
(FDR) 1935, guaranteed retirement payments for enrolled workers beginning at age 65; set up federal-state system of unemployment insurance and care for dependent mothers and children, the handicapped, and public health - Still exists.
Federal Securities Act
1933 "Truth in Securities Act", this act was created to protect the public against fraud.Before securities could be offered for sale they had to be accompanied by full and true information. Misleading information or the absence of pertinent information could result in prosecution.
Home Owners' Loan Corporation
1933 As part of the Hundred Days that understood the nation's tragedy of foreclosed mortgages, the HOLC refinanced American home mortgages. This effort allowed one-fifth of all U.S. mortgages to become refinanced which would prevent another Great Depression
Civilian Conservation Corps
1933 Hired young, unemployed people to do restoration projects throughout the country, employed over 3 million people. First 100 days
Farm Credit Administration
1933 Provided low interest farm loans and mortgages to prevent foreclosures on the property of indebted farmers
Federal Emergency Relief Administration
1933 The Act was the first direct-relief operation under the New Deal, and was headed by Harry L. Hopkins, a New York social worker who was one of Franklin D. Roosevelt's most influential advisers *, law provided money for food and other necessities for the unemployed *Affected the people in trying to aid people feeling the effects of the depression, still in effect today.
Civil Works Administration
1933,headed by Hopkins, Designed to provide purely temporary jobs during the winter emergency of 1933 prevent winter damage by creating tens of thousands of jobs such as leaf-raking and other jobs made just so people can be able to do something. These jobs are called "boondoggling." . purely temporary and often very simple.
National Recovery Act
1933; this encouraged businesses to set a minimum wage and abolish child labor. It set up codes governing pricing and other practices for every industry. The agency had a blue eagle symbol and slogan - "We Do Our Part."
Federal Housing Authority
1934 - Created by Congress to insure long-term, low-interest mortgages for home construction and repair.
Securities and Exchange Commission
1934 - Created to supervise stock exchanges and to punish fraud in securities trading.
Indian Reorganization Act
1934 - Restored tribal ownership of lands, recognized tribal constitutions and government, and provided loans for economic development.
Public Works Administration
1935 Created for both industrial recovery and for unemployment relief. Headed by the Secretary of Interior Harold L. Ickes, it aimed at long-range recovery and spent $4 billion on thousands of projects that included public buildings, highways, and parkways.
Wagner Act
1935, also National Labor Relations Act; granted rights to unions; allowed collective bargaining
Resettlement Administration
1935, helped resettle destitute farmers on better land and unemployed workers in planned communities after the dust bowl
National Youth Administration
1935, provided education jobs counseling and recreation for young people. part time positions at schools for students allowed for aid in h.s. college and grad school. part time jobs for drop outs
Rural Electrification Administration
1935; made electricity available at low rates to American farm families in areas that private power companies refused to service.
Farm Security Administration
1937-Replaced Resettlement Admin. Made low-interest loans allowing tenant farmers to buy family sized farms. Established network of well-run camps:clean, sanitary shelter,medical services to migrant farm workers.
National Industrial Recovery Act
A New Deal legislation that focused on the employment of the unemployed and the regulation of unfair business ethics. The NIRA pumped cash into the economy to stimulate the job market and created codes that businesses were to follow to maintain the ideal of fair competition and created the NRA. Eventually declared unconstitutional by Supreme Court.
Tennessee Valley Authority
A relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land. It brought cheap electric power, low-cost housing, cheap nitrates, and the restoration of eroded soil. Still exists.
Works Progress Administration
Authorized by Congress in 1935; put $11 million on thousands of public buildings, bridges, roads; Gave 9 million people jobs, and also found part-time jobs for needy high school and college students.
Fair Labor Standards Act
June 25, 1938- United States federal law that applies to employees engaged in and producing goods for interstate commerce, it established a national minimum wage, guaranteed time and a half for overtime in certain jobs, and prohibited most employment of minors in "oppressive child labor," a term defined in the statute. It is administered by the Wage & Hour Division of the United States Department of Labor.
