THE NEW DEAL: ECONOMIC & BANKING PROGRAMS

Created during the Hoover Administration, expanded by FDR.
Helped finance public works, industry, and national defense activities.

Created Agricultural Adjustment Administration (AAA).
Introduced measures to reduce crop supply, stabilize prices and support farm incomes.

Created National Recovery Administration (NRA).
Legalized industry collaboration for price controls and collective bargaining for labor.

Gave the president emergency powers over the US banking system, under which he called a ‘bank holiday’ to allow evaluation of all banks and closure of insolvent ones.

Created Federal Deposit Insurance Corporation to insure personal bank accounts

Insured bank deposits against bank failure.

Created Securities and Exchange Commission (SEC).
Allowed federal regulation of stock trading in public corporations

Greater emphasis on progressive taxation and taxation on wealth; consistent revenue increases achieved.

Called in all private gold and created a government hoard (Fort Knox).

Protected farms from creditor repossession

Protected consumers from certain rate increases, and also from high-risk speculation activitiesc