new deal continued

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  • The New Deal- (reform and regulation)
    • Two broad aims: 1. relief & recovery 2. reform & regulation
    • Banking Act- 1933
      • Regulated banking and credit. Insured all bank deposits up to $5,000
    • NRA- The National Recovery Administration -1933
      • Encouraged voluntary support for businesses- aimed to improve cooperation between businesses and government to stop price cutting, wage cuts and job losses
      • Regulated 'fair competition' through code of practise to avoid cut-throat competition and by slackening antitrust laws/ banned child labour/ supported rights of workers and trade unions/  persuaded people to buy from those had signed up to code
    • SEC- Securities and exchange commission- 1934
      • Extended powers of Banking Act/ federal government regulation of trading in stocks and shares and strengthened the powers of the Federal Reserve in Washington/ now illegal buy stocks on credit

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