New Deal
Terms
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- Securities and Exchange Act (SEC)
- regulates companies that sell stocks and bonds to guard investors against stock fraud
- National Industrial Recovery Act (National Recovery Administration--NRA)
- stimulated industrial and business activity and reduced unemplyment
- Civilian Conservation Corps (CCC)
- provided relief for many unemployed young men by employing them for conservation projects
- Fair Labor Standards Act
- minimum wage of 40 cents/hour, maximum 40 hour workweek for businesses in interstate commerce, no discrimination against persons of any race, color, creed, or nationality in matter of employment
- Public Works Administration (PWA)
- spent $3,300,000,000 for various public works projects (e.g. construction of schools, hospitals, post offices, roads, and dams)
- Revenue Act of 1935
- increased tax on the wealthy
- Agricultural Adjustment Act (AAA)
- paid farmers to reduce their output of corn, cotton, dairy products, hogs, rice, tobacco, what, and other agricultural goods to increase crop prices
- Glass-Steagall Act
- established the FDIC and separated bank types according to their business
- Civil Works Administration (CWA)
- created under the FERA to temporarily provide jobs for millions of unemployed workers
- Tennessee Valley Authority (TVA)
- GOAL: to increase the standard of living in the area
- Federal Deposit Insurance Corporation (FDIC)
- IMPACT: confidence in banks --> people put money in banks
- National Industrial Recovery Act (National Recovery Administration--NRA)
- HOW: stabilizing prices, raising wages, limiting work hours, providing jobs, and banning child labor
- Works Progress Administration (WPA)
- employed more than 8.5 million people to build bridges, roads, public buildings, parks, and airports
- Federal Emergency Relief Administration (FERA)
- distributed $500 million in relief aid to state and local agencies for relief
- Wagner Act (National Labor Relations Act)
- guarantees labor's right to organize unions and to bargain for better wages and working conditions
- Emergency Banking Act
- 4 day banking holiday --> closed down insolvent banks and reorganized and reopened those banks strong enough to survive
- Federal Deposit Insurance Corporation (FDIC)
- insured bank savings deposits up to $5,000
- Social Security Act
- provided retirement pensions for people over 65, unemployment insurance to workers who had lost their jobs, and payments to people with disabilities and widows and children of male workers who have died
- Works Progress Administration (WPA)
- created to put American men and women to work
- Tennessee Valley Authority (TVA)
- built dams and power stations to provide hydroelectric power and flood control to the Tennessee River valley