FDR New Deal

March 4, 1933

FDR Inauguration Day

March 6-10, 1933

Bank holiday

March 9, 1933

EBRA passed/FDIC created (reform)

Emergency banking act gave the pres pwr to regulate banking transactions and foreign exchange and to reopen solvent banks & Glass-Steagall created the Federal Deposit Insurance Corporation, which insured individual deposits up to $5,000 (later raised), ending the bank failures

March 12, 1933

First fireside chat

March 13, 1933

5,000 banks reopen

FCA

(Farm Credit Administration) Provided $100 million in loans to farmers in seven months (relief)

AAA

(Agricultural Adjustment Act) Farmers paid to plow up 10 of the 40 million acres already planted for the 1933 season, hog kill to raise pork prices (5 million babies, 200,000 sows) Prices up 50% by 1936, but declared unconstitutional. (recovery) *subsidized scarcity

NIRA (NRA)

(National Recovery Administration) Set minimum wage, regulated working conditions, production, etc. Eventually turned down by the Court. (Blue Eagle & Philadelphia Eagles) (recovery)

NIRA (PWA)

(People's Works Administration) Ickes' $4 billion, 34,000 project recovery campaign. Highways, Grand; Coulee dam, etc. (relief)

CCC

(Civilian Conservation Corps) 3 million young men employed in conservation efforts (segregation, "militarizing") + $1/day rate ($25 of $30 sent directly home) (relief)

FERA

(Federal Emergency Relief Administration) Sent emergency funds to local relief agencies. $5 million given out in 2 hours. Harry Hopkins' agency. (relief)

TVA

(Tennessee Valley Authority) Revitalized the TN region by building dams, producing electricity for 2.5 million citizens. (recovery/relief)

CWA

(Civil Works Administration) Provided temporary jobs for winter relief. Boondoggling, make-work. (relief)

HOLC

(Home Owners Loan Corporation) Refinanced mortgages on non-farm homes. Secured middle-class loyalties. (relief)

FHA

(Fed Housing Administration) Insured home mortgages. Lenders agreed to 20% down payments. (reform)

SEC

(Securities and Exchange Commission) To regulate the stock market. (reform)

FBI

(Federal Bureau of Investigation) new power given to J. Edgar Hoover's FBI (reform)

WPA

(Workers Progress Administration) $5 billion works bill provided over 7 million jobs. Hired out-of-work artists, photographers, actors, writers. (relief, recovery) *Federal Project No. 1

RA/FSA

(Resettlement Administration/Farm Security Administration) Created to move farmers to better land, also loaned over $1 billion to farmers and set up camps for migrant workers. Hired photographers to detail their work. (relief, recovery)

REA

(Rural Electrification Act) Built electrical systems in rural areas, made loans to farmers to buy labor-saving devices. 10% electrification in 1935, 90% by 1950 (recovery)

NYA

(National Youth Administration) Works bill designed to help youth with urban programs, similar to the CCC. (relief)

NLRB

(National Labor Relations Board) Wagner Act of 1935 established this board which called for collective bargaining. (reform)

SSA

(Social Security Act) Created old-age pensions and assistance for orphans and the disabled. Created unemployment insurance as well, funded by payroll taxes. (relief, reform)

20th Amendment (1933)

significantly reduced the Lame Duck period

21st Amendment (1933)

ended Prohibition in 1933 (light wine and beer was legalized early in the Hundred Days so that it could be heavily taxed to help fund programs)

Federal Securities Act (1934)

Truthful information about the soundness of stocks and bonds.

The Indian Reorganization Act (1934)

The "Indian New Deal" encouraged tribes to preserve their culture and traditions. Provided limited tribal government.

Public Utility Holding Company Act (1935)

Regulates the parent company of a utility from charging high fees that would force the raising of utility rates. Also prohibited risky speculation.

Soil Conservation & Domestic Allotment Act (1936)

Paid farmers for planting soy or for allowing land to lie fallow.

Second AAA (1938)

A "more acceptable" version, continued to pay farmers for soil conservation.

Fair Labor Standards Act (1938)

Set up minimum wage and maximum hours and forbid child labor under 16.