New Deal and Second New Deal Essay
When Franklin D. Roosevelt was elected president in the election of 1932, he had plans to stop the depression. These plans were called the New Deal. The first hundred days were the most hectic. Laws were passed almost daily. These laws affected many people. Before the first hundred days were over, Roosevelt had provided something for nearly every special interest group. The laws he passed made different organizations and restored confidence into the American government. The first priority was to restore confidence into the banking system. To do this, Roosevelt declared a four-day banking holiday. During these four days, money transactions were virtually stopped. Congress passed the Emergency Banking Act (EBA). This act provided funds to banks that could be saved and allowed the U.S. Treasury to close the banks that could not be saved. This act also created the Federal Deposit Insurance Corporation (FDIC). This insured that a certain amount of deposits would be insured. On March 12, Roosevelt went on his first fireside chat and assured them that banks would open and that they were safe. After Roosevelt restored the people's confidence, he turned to problem of helping the needy. He passed the Federal Emergency Re
The Tennessee Valley Authority (TVA) did the same thing as the CCC; however, it did them in the Tennessee Valley. 3 billion to stimulate the economy and increase employment by building public buildings. He also passed the Civil Works Administration (CWA). These agencies included the Works Progress Administration (WPA), National Youth Administration (NYA) and the Resettlement Administration (RA). The government would pay the farmers if they did not produce food. This act contained three major programs -a retirement fund, unemployment insurance, and welfare grants for local distribution (including aid for dependent children). The act authorized the president to "lend, lease, or otherwise disposed of" any supplies needed by any country whose security was vital to American defense. In addition to increasing the involvement of the government in people's lives, the New Deal created a number of agencies that still exist, and it stimulated the growth of the Democratic Party. This act created the National Recovery Administration (NRA) to oversee the NIRA. This was supposed to limit competition, increase profits, expand production, and rehire laid-off workers. The Federal Housing Administration (FHA) helped new homebuyers secure low-interest mortgages. In addition, the New Deal coalition dominated the electorate and the nation for years thereafter. The Fair Labor Standards Act (FLSA), the last major domestic program launched by the Roosevelt administration, mandated maximum hours and minimum wages for most categories of workers.
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