The New Deal - First Hundred Day Legislation

EBA: 

Problem:

Americans had little confidence in the banks and might withdraw all their savings - this would lead to collapse.

Action:

The government declared a bank holiday and closed all banks. When the banks were reopened eight days later, the government restored confidence in the banking system by officially backing 500,000 banks to reassure Americans that their money was safe. 

SEA:

Action:

The Securities Exchange Act set up a commission to regulate the stock market to make sure that the specualtion that caused the 1929 crash wouldn't happen again.

Federal Emergency Relief Administration:

Problem:

Poverty and unemployment

Action:

500 million dollars allocated to help relieve suffering of poor (food, clothing, etc) Seed and equipment for farmers, schemes to help jobs.

Civilian Conservation Corps:

Problem: 

Unemployment among young men

Action: 

Men aged 18 - 25 given six months work. Had to send most of their pay home to parents/wives. About 300,000 joined in 1933; by 1940 there were 2 million.

Public Works Administration (became Progress Administration in 1935):

Problem:

Unemployment

Action:

Paid for public works projects (e.g schools, roads, hospitals) and used unemployed workers.

Agricultural Adjustment Administration:

Problem:

Rural poverty, unemployment and low crop prices

Action:

Advised farmers on marketing and farming techniques and helped solve problem of overproduction. Farmers became more organised but wealthy farmers gained most.

National Industrial Recovery Act:

Problem:

General econmic condition of USA

Action: 

Set up NRA (National Recovery Administration) which set standards on working practices (hours, child labour). This helped create more jobs. Employers in the scheme dislpayed the eagle symbol of government approval, and the goverment encouraged people to use these firms. Over 2 million employers were members.

Tennessee Valley Authority:

Problem:

Agricultural overproduction and regular flooding had ruined livelihoods of farm workers in Tennessee Valley. No alternative jobs in industry. Area covered parts of six states and was too big for any one sate to deal with.

Action:

Huge public works projects: dams, irrigation, canals and water ransport. Hydro-electric power created thousands of jobs. Farmers given loans and training in soil conservation. New housing was built.