FDR's New Deal | US 2 History Honors

The Emergency Banking Relief Act

Authorized the Treasury to close all banks for inspection; only those in good standing could re-open; banks in debt could receive loans; gave the public confidence that the banks were in good financial shape

The Glass-Steagall Act

Established the Federal Deposit Insurance Corporation, which provided insurance for individual bank account up to $5,000, giving reassurance that money was safe in banks

The Federal Securities Act

Required corporations to provide complete info on all stock offerings and made them liable for any misrepresentations; created the SEC to regulate the stock market

The Agricultural Adjustment Act

Raise crop prices by lowering production; paid farmers to leave land unseeded and slaughter animals; by reducing supply and demand, it was successful in raising prices and getting farmers more money

The Tennessee Valley Authority

Renovated 5 dams and created 20 new dams; made thousands of jobs and provided food control/electricity to those in poverty

The Civilian Conservation Corps

Young men got jobs building roads, developing parks, planting trees, and assisting soil erosion/flood control projects; 200 million trees were planted in 8 years; aimed to prevent another dust bowl

National Industrial Recovery Act

Established Public&Civil Works Administrations; PWA gave states money to create community building construction jobs; CWA built 40,000 schools and paid the salaries of 50,000 rural school teachers

The National Recovery Administration

Promoted recovery by interrupting the trends of wage cuts, falling prices, and layoffs; set the prices of many products; established standards/codes of fair practice for individual industries

Home Owners Loan Corporation

Gave government loans to homeowners who faced foreclosure due to unmet loan payments

Federal Emergency Relief Administration

$500 million to provide relief; $250 million of it was given to the states for food/clothing for the unemployed; $250 million of it was given to the states for work relief programs