The New Deal/The Second New Deal Programs

The Emergency Banking Act

Roosevelt would declare a 4 day national banking holiday. One billion dollars would be pumped into the banking system. The government would be given the right to regulate banks.

• New Deal

Federal Deposit Insurance Corporation (FDIC)

insuring individuals bank deposits FEDERAL

• New Deal

Securities Exchange Commission (SEC)

government regulation of stock market (not passed until 1934)

• New Deal

Farm Credit Administration (FCA)

extend loans to farmers to pay off their mortages

• New Deal

Agricultural Adjustment Act (AAA)

Pay farmers to reduce crops, funded by taxes on meat packagers, food processors. Government purchasing excess crops of paying farmers to destroy excess crops.

• was claimed to be unconstitutional: decreasing jobs, goes against where peoples tax money is going, like bribery

  • New Deal

Home Owners Loan Corporation (HOLC)

loan money to home owners to refinance mortgages

• New Deal

Federal Emergency Relief Administration (FERA)

Provide direct relief to the needy. Half a billion dollars to go directly to state and local agencies (helps with basic needs).

• New Deal

Civil Works Administration (CWA)

provide federal jobs to the unemployed

• make work program

  • New Deal

Civilian Conservation Corps (CCC)

employed young men on public-works projects - working in national parks + forest land, just trying to make jobs

• New Deal

National Industry Recovery Act (NIRA)

Government regulation on industry - raising prices and wages through cartel practices (forced business cooperation in mutual interest of workers and economy). Fair competition codes enforced. Union organization allowed to encourage higher wages.

• New Deal

National Recovery Administration (NRA)

formed by NIRA to regulate business

• New Deal

Tennessee Valley Authority (TVA)

Construction of dam power projects in Tennessee Valley Region. Combating malaria, illiteracy, soil erosion, while providing electricity and flood control.

• New Deal

The Works Administration (WPA)

public works program to work on urban infrastructure and arts, created work

The Rural Electrification Administration (REA)

building off of TVA, government funded pensions (social security) → funded with payroll taxers, funds elderly retirement

Social Security Act

helped collect funding/support for disabled and elderly people/families

Revenue Act of 1935 (Wealth Tax Act)

raise taxes on large corps and individuals with higher incomes

National Labor Relations Act (Wagner-Connery Act)

allowed for unionization/organized protests

Farm Security Administration

provide loans to help farmers but land