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New Deal A

New Deal A. Fixing the Banks: 1. Emergency Banking Relief Act - March 9 1933. Bank Holiday – Close banks What did this do? Stopped bank runs from bankrupting remaining banks Fire side chat – “safer to keep money in reopened bank then under matress ”.

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New Deal A

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  1. New Deal A

  2. Fixing the Banks: 1. Emergency Banking Relief Act - March 9 1933 • Bank Holiday – Close banks • What did this do? Stopped bank runs from bankrupting remaining banks • Fire side chat – “safer to keep money in reopened bank then under matress”

  3. 2. Federal Deposit Insurance CorpJune 1933 • What did this do? Protect bank deposits up to a certain point • Effects? Restore confidence in banks, deposits increase

  4. Fixing Farms & Industry3. Agricutural Adjustment AdministrationMay 1933 • What did it do? Pay Farmers to not raise certain crops causing prices and farmers income to raise • Issue? Raised prices, helped large commercial farmers not the little guys

  5. 4. National Recovery ActJune 1933 • What did this do? Created voluntary rules for businesses, suspended anti-trust laws • Code of fair a. set prices b. minium wage c. aided workers unions also – limit amount of shifts, shortened hrs • Issues? Helps large industries, higher wages = higher prices, difficult to oversee

  6. Releif for the people5. Home Owners Loan Corp 6/1933 • What did it do? Bought mortgagees of homeowners, restructured with lower rates and longer payments • Issues? Only help those still employed

  7. 6. Civilian Conservation CorpsMarch 1933 • This was FDR most highly praised program • What did it do? Gave jobs to 18-25 yrs old to work with forest service • Examples: plant trees, fight fires, build reservoirs

  8. 7. Public Works AdministrationJune 1933 • What did this do? Gave out construction jobs • Examples – highways, damns, schools, sewers • Who provided jobs? Government hired construction firms to build projects who would then hire workers

  9. 8. Civil Works AdministrationNov 1933 • What did this do? Provided short term construction jobs • Examples – airports, schools, roads, playgrounds • Who provided jobs – government • Why cancelled? Spent a lot of money and didn’t want people dependent on government providing jobs

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