New Deal
Terms
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- Emergency banking Act
- Treasury department given the right to decide when a bank could reopen. The movement of gold was put under the president's control.
- "fireside chats"
- FDR's radio adresses to the public that it was safe to put money into the economy again. Many americans liked this and felt is was more personable.
- Economy Act
- One of the few New Deal laws that decreased spending, it cut federal spending in vetrans' pensions and cut the federal employees' salaries
- Beer Act
- a step towards repealing Prohibition
- Agriculture Adjustment Act
- set up a system that paid farmers to not grow crops, hoping it would raise farm prices and reduce surpluses
- Civilian Conservation Corps
- hired men between 18 and 25 to set up parks and forests, plant trees, build dams and bridges and restore historic sites.
- Federal Emergency Relief Act
- Gave direct money relief to Americans while they were unemployed. It improved roads, highways, and airfields during this time.
- Farm Credit Act
- This law created an agency to centralize all farm credit services.
- "Truth In Securities" Act
- This law required all sellers of stock to make public important information about the nature of these securities. It also gave the Federal Trade commission the power to block the sale of misrepresented securities and imposed stiff civil and criminal penalties for violaters.
- Tennessee Valley Authority
- created to operate a powere plant on the Tennessee River, it also determined the fairness of power rates, built dams, and created ways for electricity to reach rural areas in the Tennessee and surronding area. It is often criticized for being too socialistic
- Home Owners' Loan Act
- this law formed the Home Owners' Loan Corporation to refinance individual home mortgages at low interest for up to fifteen years.
- Railroad Coordiantion Act
- this act attempted to rescue the depressed railroad industry by enforcing consolidation, rate-making reforms, and other economic measures. ITs goal was a coordinated transportation system but it didn't work out.
- National Industrial Recovery Act
- Congress gave the president the power to manage all the nation's business life. It was declared unconstitutional by the Supreme Court, as it said that Congress did not have the right to delegate law making priviledges to the president
- National Recovery Administration
- established by FDR, it was supposed to regulate wages, working hours, and prices, as well as establish recognition for trade unions.
- Glass-Steagall Banking Act
- forced commercial banks out of the investment business and made those with the Federal Deposit Corporation to insure bank deposits up to $5000