new deal continued
- Created by: jamesbhardwaj
- Created on: 05-12-13 17:33
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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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