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THE NEW DEAL
Banking Crisis
1933 ­ banks closed + investors withdrawing savings
THE EMERGENCY BANKING RELIEF ACT
Restored confidence in banks
Only sounder banks were allowed to reopen
Government put a guarantee on all money up to $2,500, covered by the Federal Deposit Insurance
Corporation

Agricultural Adjustment Act (AAA)…

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Funded $3.3 billion, purpose was `pump-pricing' (government spending = economic growth)
Harold Ickes was in charge
Demanded value for money
Built 50,000 miles of roads and 13,000 schools
Hundreds of thousands of jobs


Works Progress Administration (WPA)
1935
2 million employees
Took jobs private companies didn't want
People taken for…

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