new deal

Emergency banking relief act

Restore public confidence in banks

• Closed banks temporarily (“Bank Holiday”)

• Only stable banks were allowed to reopen

Glass-Steagall Act

Purpose: Prevent risky banking practices
What it did:

• Separated commercial banking from investment banking

• Created the FDIC

Federal Deposit Insurance Corp.

Purpose: Protect customers’ bank money

What it did:

• Insured individual bank deposits

Securities and Exchange Comussion

Purpose: Regulate the stock market

What it did:

• Monitored Wall Street to prevent insider trading and fraud

Civilian Conservation Corps

Purpose: Provide jobs to young men and protect the environment
What it did:

• Planted trees, built parks, controlled flooding

Federal Emergency Relief Administration

Purpose: Provide immediate help
What it did:

• Gave money to states for food, shelter, and clothing

National Youth Administration

Purpose: Support students and young workers
What it did:

• Provided part-time jobs and training to teenagers and young adults

Public Works Administration

Purpose: Create jobs through construction
What it did:

• Built schools, bridges, hospitals, and dams

Tennessee Valley Authority

Purpose: Modernize a poor rural region
What it did:

• Built dams, provided electricity, and controlled flooding

Social Security Act

Purpose: Provide long-term security
What it did:

• Pensions for the elderly

• Unemployment insurance

National Industrial Recovery Act

Purpose: Boost industry and protect workers
What it did:

• Set minimum wages and maximum hours

• Recognized workers’ right to unionize

Agricultural Adjustment Act

Purpose: Raise farm prices
What it did:

• Paid farmers to grow less food