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Franklin D. Rossevelt is sworn in as the 32nd President of the United States of America.
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FDR closes all American banks for 4 days during this time Congress meets to discuss legislation.
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FDR ordered a bank holiday. Many banks were failing because they had too little capital, made too many planning errors, and had poor management. The Emergency Banking Relief Act provided for government inspection, which restored public confidence in the banks.
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paying farmers subsidies not to plant part of their land and to kill off excess livestock. Its purpose was to reduce crop surplus so as to effectively raise the value of crops.
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created Federal Emergency Relief Administration headed by Harry Hopkins, granted $3 billion to states for direct relief payments or wages on work projects
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Act that required that investors receive financial and other significant information concerning securities being offered for public sale; and it prohibited deceit, misrepresentations, and other fraud in the sale of securities.
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Created the Federal Deposit Insurance Corporation, which insures the accounts of depositors of its member banks. It outlawed banks investing in the stock market.
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Congress passes the National Industrial Recovery Act, the signature piece of legislation of the First New Deal, which Roosevelt hopes will lift the industrial economy out of Depression.
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Congress passes the Emergency Relief Appropriations Act, which allocates $5 billion for work relief projects administered through the new Works Progress Administration, which will ultimately employ more than eight million Americans.
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A partial replacement of the first AAA, this paid farmers to rotate their crops, let their land lie fallow, or to plant soil-conserving crops like soybeans
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made low-interest loans to utility companies and farmers' cooperatives to extend electricity to the 90% of rural America that still lacked it
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Franklin D. Roosevelt signs the Wagner National Labor Relations Act, which re-establishes the right to collective bargaining that had been thrown out by the Supreme Court along with the rest of the NRA in the Shechter decision.
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Created the National Labor Relation Board.The National Labor Relation Board was an administrative board that gave laborers the rights of self-organization and collective bargaining.
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Franklin D. Roosevelt signs the Social Security Act, the signature piece of legislation of the entire New Deal era, which permanently changes the relationship between the American people, their government, and the free market
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Congress passes Franklin D. Roosevelt's "wealth tax," a largely symbolic measure that raises the top tax rate to 79%. Still, more than 95% of American families pay no income tax at all.
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Frustrated with the Supreme Court's rejection of much of his program, Franklin D. Roosevelt proposes new legislation allowing him to expand the court to fifteen members, which would allow him to install as many as six friendly justices to overrule the existing conservative majority.
