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Period: to
New Deal
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"Bank Holiday"
All banking transactions stop and embargo on exportation of gold, silver, and currency. Summons Congress to special session for March 9. Recovery -
Hundred Days Session/ Emergancy Banking Act
This first day Congress passes the Emergency Banking Act, giving FDR broad powers over banks and foreign exchange. Bank holiday ends March 10--banks can reopen when they prove that they are solvent. Within three days, 1000 banks will reopen and national confidence picks up. Recovery -
Reforestation Relief Act/ CCC
provides work immediately for 250,000 young men (18-25) in reforestation, road construction and developing national parks. Work camps begin to spring up. By the time it eases in 1941, two million people have worked on its projects. Relief -
Federal Emergency Relief Act
authorizes immediate grants to states for relief projects. Unemployment has reached 14 million-over one quarter of the nation's work force. Relief -
Federal Securities Act
monitor and regulate stocks and bonds. Reform -
Farm Mortgage Refinancing Act
assist farmers in refinancing their mortgages. Reform -
Securities Exchange Act
establishing the SEC to regulate security transactions. First chairman is Joseph Kennedy. Reform -
Emergency Relief Appropriation Act
authorizing almost five billion for immediate relief and increased employment on "useful projects," one of which is the Works Progress Administration (WPA). Relief -
Resettlement Administration (RA)
help farm families relocate and furnish them with loans and new projects. Recovery -
Rural Electrification Administration
help bring electricity to areas previously where it was previously unavailable. Reform -
National labor Relations Act (Wagner-Connery).
Upheld as constitutional by Supreme Court in March 1937. Recovery -
Social Security Act
guaranteeing pensions to those retiring at 65 with contributions from both employees and employers. Also provides financial aid to dependent children and blind people and establishes a system of unemployment insurance. Recovery -
Revenue Act
increasing taxes on inheritances, gifts and higher income individuals -
Supreme Court Retirement Act
which simply permits Supreme Court Justices to retire at 70 with full pay. Recovery -
Judicial Procedure Reform Act
compromise on his original reorganization plan. Reform