APUSH Period 7.10 "New Deal" Policies

Glass–Steagall Act / FDIC (1933)

Increased regulation of the banks and limited how banks could invest customers money. It established the FDIC which insured bank deposits to protect customers in case of bank failure.

Emergency Bank Relief Act

Authorized the government to examine the finances of banks closed during the bank and holiday and reopen those judged to be sound.

Tennessee Valley Authority

Hired thousands of people in one of the poorest regions to do construction/services such as building dams and selling electricity.

National Industrial Recovery Act (NIRA)

Set codes for wages, hours, prices, as well as the workers right to form labor unions. (Declared unconstitutional in 1935 by Supreme Court)

The Agricultural Adjustment Act (AAA)

Offered to pay government subsidies for every acre that the farmers plowed under; paying farmers to cut the production and raise prices. (Also repealed and declared unconstitutional in 1935)

The Wagner Act

Guaranteed a worker’s right to join a union; Flint Strikes in Michigan

Social Security Act 1935

Created a federal insurance program based on taxing the income of workers so that money can be given in monthly payments to retired people over 60 years of age, dependent mothers and their children, as well as the disabled.