Bank Holiday- Roosevelt's idea for closing the banks was because the banks were struggling.
Emergency Banking Relief Act- invested the president with the power to regulate banking transactions and foreign exchange and reopen solvent banks. Provides additional printed currency.
Civilian Conservation Corp- proved to possibly be the most popular out of the New Deal “alphabetical agencies”. This law also provided employment in fresh-air government camps for about 3 million uniformed young men.
Federal Emergency Relief Act- the main goal was immediate relief rather than long-range recovery. This also resulted in the Federal Emergency Relief Administration. Government money that goes to the states then helps the unemployed, 3 billion.
Agricultural Adjustment Act - designed to raise agricultural prices by paying farmers not to farm. This was based on the assumption that higher prices would increase farmers’ purchasing power, so it would help alleviate the Great Depression.
Tennessee Valley Authority- discovered precisely how much production and distribution of electricity cost, so that a “yardstick” could be set up to test the fairness of rates charged by private companies. Brought electricity to the south, came from hydroelectricity
Home Owners Loan Corporation- this was designed to refinance mortgages on nonfarm homes, it helped about a million badly pinched households.
National Industrial Recovery Act- designed to assist industry, labor, and the unemployed through centralized planning mechanisms that monitored workers’ earnings and working hours to distribute work and established codes for “fair competition” to ensure that similar procedures were followed by all firms in any particular industrial sector. PWA & NRA came from this. NRA overstepped the bounders of authority and was unconstitutional.
Glass-Stegall Banking Reform Act- provided for the Federal Deposit Insurance Corporation, this insured individual deposits up to $5,000. This also created the Federal Deposit Insurance Corporation.
\n \n
\