Federal Insurance Deposit Corp
- Created the Glass Stegall Banking Act of 1933
- Insurance on savings accounts up to 5000$
- Reassured people their accounts were safe
- Still used today
More Finance Reform 1933 Federal securities Act
- Corporations must report detailed stock info
- Held liable for any misrepresentations
1933 - SEC ( Securities Exchange Comission)
- Regulates stock market, no rigging
- Headed by Joseph Kennedy
- Still used today
Agricultural Adjustment Act(AAA)
- Lowered production to raise crop prices
- Paid farmers not to grow crops
- Alleviate erosion & dust bowl effect
- Hog Farmers paid to slaughter 6 million hogs
- Upset many Americans taught not to waste food, esp. when so many are hungry
- Successful : Prices slowly rose
Work Projects
- **_Civilian Conservation Corps (CCC): Built rodas, cultivated parks ^ planted trees ( 200 mil. ) to control flooding and soil erosion **
- 3 million went to work, men ages 18-25
- 25 automatically sent home
- Free food & uniforms
- _1933 - Public Works Administration (PWA): Gave money to states to create jobs ( mainly schools, bridges, airports )
- Spend money to make more jobs
- Didn’t make a dent in unemployment
More ABCs
- Civil Works Administration (CWA):
- Created to provide more jobs since PWA failed
- Provided 4 mil. Jobs (roads & schools)
- **_6/1933 - National Industrial Recovery Act (NIRA): Promoted industrial growth and set up fair codes of practice **
National Recovery Administration(NRA)
- Set prices on products to ensure competition
- Established working hours, minimum wage banned child labor etc.
- Gave workers the right to unionize & bargain collectively.
- Helped limit production so products would make a profit.
Tennessee Valley Authority(TVA)
- May, 1933
- Tennessee River Valley badly depressed area
- Project created thousands of jobs
- Built 20 dams providing flood control & hydroelectricity
- Brought electricity to rural areas improving living conditions and economy
- Effected 7 states
- Used as yardstick to measure fair prices for electricity
Social Security Act(SSA)
- Insurance 65 +
- Unemployment
- Aid to families with disabled children
- Farmers not included at 1st
Work Progress Administration(WPA)
- Create as many jobs as possible as quickly as possible
- Headed by Harry Hopkins
- Employed 8 mil. People w/i 8 yrs.
- Built Roads, schools, libraries, airports etc.
- Great value to nation, restored sense of purpose
WPA and the Arts
- Controversy over WPA’s funding of artists, theaters, etc.
- Hired artists to paint public works of art, offer free plays, free concerts etc.
- Why would this be important?
- 20% of the WPA’s budget went to the arts.
- Many people felt this money could be better spent
Home Owners Loan Corp
- Gave government loans to those who faced foreclosure
- Federal Housing Admin ( FHA ) provides loans for mortgages & home repairs ( even today )
Federal Housing Administration(FHA)
New Deal Programs Endure