 | Term | Definition |
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NRA |
the National Recovery Administration (recovery); was headed by Hugh Johnson; sought to overcome the Depression by relying on voluntary cooperation between competing businesses and labor leaders; established codes of fair competition, guidelines for prices, maximum hours, minimum wages, the guarantee of collective bargaining, and the act of allocating percentages to individual producers; by 1933, over 5 million companies had joined, but the codes were too specific to enforce easily. The NRA was invalidated in 1945 on the grounds of unconstitutionality. |
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AAA |
The Agricultural Adjustment Administration (recovery); was created in 1933 by Congress; idea was Henry A. Wallace's; would allocate acreage among individual farmers, paying them subsidies to encourage farmers to take land out of production; smaller harvests=rising farm prices and increase of farm income; large numbers of farmers benefitted from the program, small farmers/tenants/sharecroppers didn't; |
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FSA |
Farm Security Administration (recovery); sought to loan money to tenants and sharecroppers with the intention of helping them to acquire their own land; not able to extend enough loans past 2 percent of the nation's tenant farmers |
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CCC |
Civilian Conservation Corps (relief); enrolled youth from city families on relief and sent them to parks/recreational areas to improve public facilities; more than 2 million men served in the CCC; directed by Harry Hopkins |
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PWA |
The Public Works Administration (relief); was headed by Harold Ickes, Secretary of the Interior; failed to put many people to work; created in June 1933, it aimed to construct public works with the budget of several billion dollars |
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CWA |
The Civil Works Administration (relief); Harry Hopkins was in charge; an expensive program that made workers build roads, schools, playgrounds, and athletic fields; the program was abandoned in 1934 because of its cost |
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WPA |
The Works Progress Administration (relief); in charge was Harry Hopkins; it had a budget of approximately $5 billion for emergency relief; Hopkins put the unemployed on the federal payroll so they could meet their basic needs; hired people to assist in construction and conservation projects, preserved the skills of artists/actors/writers; still, the program didn't provide enough money to help that stagnant economy |
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NYA |
The National Youth Administration (relief); found part time jobs for people in school and developed projects; helped 2.5 million people |
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REA |
The Electrification Administration (reform); brought electricity to 90 percent of farm homes that still didn't have it in the 30s |
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TVA |
The Tennessee Valley Authority (relief, recovery, and reform); created by Nebraska's Frank Norris; created hydroelectric dams to control flooding in Tennessee River valley and bring electricity to rural places |
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FERA |
The Federal Emergency Relief Act of 1933 (relief); provided $ for states to help relieve unemployment and create public work projects |
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FHA |
The Federal Housing Administration 1939 (relief); stimulated construction of new homes; reduced down payments to 10%; extended repayment to 30 years |
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SEC |
The Security and Exchange Commission 1934 (reform); established to regulate the stock market and reduce wild speculation |
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NIRA |
The National Industrial Recovery Act of 1933 (reform); created the NRA and the PWA; let industry establish regulations, production guidelines, and competition codes; supervised business policy; let workers unionize; was ruled as unconstititutional in 1935 |
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Tax Restructuring |
higher income tax for wealthy and capital gains (reform) |
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Home Owners' Refinancing Act |
created the Home Owners' Loan corporation, which gave funds to refinance mortgage (relief) |
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Glass-Steagall Act |
aka The Banking Act of 1933 (reform); forbade commercial banks from engaging in excessive speculation; added $1 billion to economy; established the Federal Deposit Insurance Corporation, which guaranteed deposits up to $5000 |
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Emergency Banking Relief Act |
aka National Bank Holiday; government closed all banks for four days; solvent banks reopened; nation was taken off the gold standard: paper $ was no longer redeemable in gold, government can determine amount of money in the economy and to inflate prices and stocks |
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Social Security Act |
trust fund to which workers and employees contributed; age 65 and older get to retire and be paid monthly; applied to disabled, unemployed, and dependent women/children |
