First/Second New Deal

THE EMERGENCY BANKING ACT

Closed all banks until Treasury Department verified soundness of banks. Aimed at restoring confidence of American people.

THE ECONOMY ACT

Granted the President the right to cut salaries and reduce certain veteran measures. Reflecting traditional conservative outlook. 

THE BEER-WINE REVENUE ACT

Amended the Volstead Act to permit sale of beverages with an alcoholic content of 3.2 percent. Aimed at stimulating production and employment.

THE CIVILIAN CONSERVATION CORPS ESTABLISHED

Created to employ young men between 18-25 years of age. Work relief.

ABANDONMENT OF GOLD STANDARD

Designed to bring about inflation, which would stimulate production.

FEDERAL EMERGENCY RELIEF ACT (FERA)

Designed to provide states with emergency relief funds for the unemployed. Lasted until 1935. Distributed about $3 billion to the states.

EMERGENCY FARM MORTAGE ACT

Aimed at controlling farm foreclosures. Created the Farm Credit Administration 

(FCA).

AGRICULTURAL ADJUSTMENT ACT 

(AAA)

To restore farm income to parity prices by encouraging farmers to produce less.

TENNESSEE VALLEY AUTHORITY 

(TVA)

Government ownership of corporation designed to develop hydroelectric power, develop a system of flood control, and improve reforestation, soil conservation, and industrial development.

HOME OWNERS' LOAN ACT

Provided mortage loans at low interest to refinance mortages on non-farm homes. Created Home Owners' Loan Corp. (HOLC).

THE NATIONAL INDUSTRIAL RECOVERY ACT (NIRA)

Designed to stimulate recovery through joint committees which would establish fair codes of practice for employers in order to stimulate production. Created the NRA. Section 7a important.

THE GLASS-STEAGALL ACT

Established the Federal Deposit Insurance Corporation (FDIC). Reformed other banking practices.

PUBLIC WORKS ADMINISTRATION

Created the PWA with $3.3 billion for public buildings, highway programs, flood control, and other major projects.

CIVIL WORKS ADMINISTRATION

First large-scale effort with work relief. Temporary measure. Abandoned in the spring of 1934. $900 million. 

SECURITIES EXCHANGE COMMISSION

SEC created to curb abuses of sale of stocks and bonds. 

FDR CREATES THE WORKS PROJECT ADMINISTRATION

The WPA replaces FERA. Congress approves $4.8 billion providing for work relief for jobless workers. Built schools, dams, airports, highways, tunnels, etc. Employing some 9 million people before it ends in '4: 

THE NATIONAL LABOR RELATIONS ACT (WAGNER ACT)

Pro-labor legislation. Sets up the NLRB; guarantees the right of labor to organize and bargain collectively.

THE SOCIAL SECURITY ACT

Provided for old-age and unemployment insurance, and public welfare programs. 

THE BANKING ACT

Strengthens power of the Federal Reserve System to control banks and regulate the money supply.

THE PUBLIC UTILITY 

HOLDING COMPANY ACT

Prevented certain forms of corporate structures; strikes at financial corruption in the public utility industry.

THE REVENUE ACT 

("SOAK THE RICH" TAX)

Increased taxes on incomes above $50,000, and greatly raised taxes on incomes over $5 million to a maximum of 75%.

THE FAIR LABOR STANDARDS 

ACT

Applied to industries engaged in interstat commerce. Set minimum wage of 40¢ an hour and a maximum work week of 40 hours. 

Prohibited child labor under the age of 16