HOA Review 1

First New Deal

First New Deal

A series of programs and acts implemented by FDR from 1933-1934 to address the Great Depression.

Emergency Banking Relief Act (1933)

Provided the president with authority to regulate banking transactions and reopen solvent banks to restore public confidence.

Federal Emergency Relief Act (FERA) (1933)

Offered direct relief to the unemployed through grants to states for work relief programs.

Agricultural Adjustment Act (AAA) (1933)

Aimed to raise agricultural prices by paying farmers to reduce crop production.

Tennessee Valley Authority (TVA) Act (1933)

Created a government-owned corporation to develop the Tennessee Valley region through flood control and electric power generation.

National Industrial Recovery Act (NIRA) (1933)

Established the National Recovery Administration to stimulate industrial recovery and created the Public Works Administration for large-scale projects.

Glass-Steagall Act (1933)

Separated commercial and investment banking and created the FDIC to insure bank deposits.

Civilian Conservation Corps (CCC) (1933)

Provided jobs for young men in conservation projects like planting trees and building parks.

Federal Securities Act (1933)

Required companies to provide truthful information to investors before selling stocks.

Home Owners’ Refinancing Act (1933)

Created the Home Owners’ Loan Corporation to refinance home mortgages at risk of foreclosure.

Second New Deal

A continuation of FDR's programs from 1935-1939 aimed at further economic recovery and social reform.

Social Security Act (1935)

Established a system of old-age pensions, unemployment insurance, and assistance for the disabled and needy children.

Wagner Act (National Labor Relations Act) (1935)

Strengthened workers' rights to unionize and bargain collectively.

Works Progress Administration (WPA) (1935)

Created jobs through public works projects, including infrastructure and arts funding.

Rural Electrification Act (REA) (1935)

Provided loans to electric cooperatives to bring electricity to rural areas.

Revenue Act (Wealth Tax Act) (1935)

Raised taxes on the wealthy to redistribute wealth and fund New Deal programs.

National Housing Act (1934)

Established the FHA to insure mortgages and encourage home loans for buyers.

Banking Act (1935)

Strengthened the Federal Reserve System to prevent future banking crises.

Public Utility Holding Company Act (1935)

Regulated large public utility holding companies to protect consumers.

Fair Labor Standards Act (FLSA) (1938)

Established minimum wage, overtime pay, and child labor standards.

Soil Conservation and Domestic Allotment Act (1936)

Encouraged soil conservation practices among farmers to prevent erosion.

Herbert Hoover

31st President whose conservative policies during the Great Depression were criticized for being insufficient.

Reconstruction Finance Corporation (RFC) (1932)

Provided emergency loans to large businesses to stabilize the economy.

Smoot-Hawley Tariff Act (1930)

Raised tariffs on imports, worsening the global economic situation.

Emergency Relief and Construction Act (1932)

Expanded RFC's role to include loans for public works and direct relief.

Hoover's Legacy

Criticized for inadequate response to the Great Depression, leading to FDR's election and the New Deal.