AP US History Review: Important New Deal Acts

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New Deal Acts

Emergency Banking Act (1933)

Allowed inspection of bank records to enable financially stable banks to reopen; validated "bank holiday"; permitted Reconstruction Finance Corporation to buy stocks of banks in trouble, thereby giving the banks an infusion of new capital, an example of "pump priming"

Glass-Steagall Banking Act (1933)

Established Federal Deposit Insurance Corporation to insure bank deposits and stabilize the banking system

Federal Emergency Relief Administration (FERA) (1933)

Provided work on projects, such as building roads and airports, schools and playgrounds, and parks

Civilian Conservation Corps (CCC) (1933)

Provided jobs related to conservation of natural resources to men between the ages of seventeen and twenty-five

Agricultural Adjustment Act (AAA) (1933)

In order to raise prices, limited farm production by paying subsidies to farmers withhold land from cultivation; Declared unconstitutional in 1936; Replace with Soil Conservation and Domestic Allotment Act to keep surpluses in check and prices of agricultural commodities and farm incomes up

National Industrial Recovery Act (NIRA) (1933)

Created National Recovery Administration (NRA) Administered codes of fair practices for businesses and industry; created Public Works Administration to provide money for construction or improvement of the infrastructure and public buildings

Securities Act (1933)

Gave Federal Trade Commission power to supervise new issues of stock; made company directors liable-civilly and criminally for misrepresentation

Tennessee Valley Authority (TVA) (1933)

Bought, built and operated dams; generated and sold electrical power; plan flood control and reforestation projects; withdrew poor land from farming; use of rates as a yardstick to gauge rates charged by private utilities controversial

Farm Credit Administration (1933)

Provided funding for farm mortgages

Home Owners Loan Corporation (1933)

Provided funding for home mortgages (HOLC)

Securities and Exchange ACt (1934)

Provided for federal regulation of securities exchanges; established the Securities and Exchange Commission (SEC)

Banking Act of 1935

Reorganized the Federal Reserve System to give the Federal Reserve Board control over open-market operations

National Youth Administration (NYA) (1935)

Provided work-relief training, and employment to people between the ages of 16 and 25 who were not full-time students; provided part time employment for students allowing for their continued education

Social Security Act of 1935

Established unemployment compensation fund; established the old-age pension fund; set up grants to states for care of needy dependent children, the physically disabled, and women and children in poverty; Did not cover all jobs such as farmers, farm workers, and domestics, and therefore excluded some 80% of all blacks

National Labor Relations Act (Wagner Act) (1935)

authorized the National Labor Relations Board to oversee union elections and define and prohibit unfair labor practices

Fair Labor Standards Act (Wages and Hours Act) (1938)

Set max of 40 hour workweek and a minimum wage for workers engaged in interstate commerce or in the production of goods involved in interstate commerce

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