The New Deal
With unemployment soaring and banks collapsing, public fear was so great that many were ready to support sweeping emergency powers for the new President. Roosevelt began to pass legislation that gave more power to the federal government. Under FDR's leadership, the President's duties grew to not only execute the laws as the Constitution stated but also to create policy or make laws. Roosevelt was elected President from March 1933 to April 1945, the longest tenure in American history.
Roosevelt began what he called The “New Deal” referring to a number of US government programs put into law to help the country recover From the Great Depression. According to Irénée du Pont, of the DuPont Company, wrote to a friend, “that the so-called ‘New Deal,’ advocated by the Administration is nothing more or less than the Socialistic doctrine called by another name.” Below is an example of the programs and institutions started in the the New Deal.
Banks
One of the first things that President Roosevelt did was to close the banks in what he called a "bank holiday'. Congress then passed a law called the Emergency Banking Act This law allowed for banks to reopen under the supervision of the Federal Treasury. The Federal government also insured accounts in the banks. It helped to stabilize the banks and to bring back confidence in the banking system
One of the first things that President Roosevelt did was to close the banks in what he called a "bank holiday'. Congress then passed a law called the Emergency Banking Act This law allowed for banks to reopen under the supervision of the Federal Treasury. The Federal government also insured accounts in the banks. It helped to stabilize the banks and to bring back confidence in the banking system
Stock Market
The Securities Act of 1933 was passed to help prevent another stock market crash. It required publicly traded companies to provide accurate information to file public including profits, losses, and corporate officers of the company.
The Securities Act of 1933 was passed to help prevent another stock market crash. It required publicly traded companies to provide accurate information to file public including profits, losses, and corporate officers of the company.
National Labor Relations Board
The National Labor Relations Board intended to protect the rights of workers and prevent "unfair labor practices" by mediating labor disputes.
The National Labor Relations Board intended to protect the rights of workers and prevent "unfair labor practices" by mediating labor disputes.
Public Works
The president began a large program for public works and created the Public Works Administration (PWA)
Other government programs created by the New Deal included Social Security, and Federal National Mortgage Association (Fannie Mae).
The president began a large program for public works and created the Public Works Administration (PWA)
Other government programs created by the New Deal included Social Security, and Federal National Mortgage Association (Fannie Mae).