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The Emergency Banking Act is Passed
The Emergency Banking Act was an executive order that shut down banks for several days to calm widespread panic during the Great Depression. It subjected banks to the Treasury Department inspection before they reopened, reorganized the banking system, and provided federal funds to bail out any banks on the brink of closing. -
The Agricultural Adjustment Act is Passed
The AAA was a New Deal act that raised prices for farm produce by paying farmers subsidies to reduce production. Large farmers reaped most of the benefits from the act. It was declared unconstitutional by the Supreme Court in 1936. -
The Federal Deposit Insurance Corporation is Created
The Federal Deposit Insurance Corporation was a federal agency created under the New Deal in 1933. It insured bank deposits up to $5,000, a figure that would substantially rise over the years. -
The Civil Works Administration is Established
The Civil Works Administration was a New Deal program which only lasted four months but employed more than 4 million people on 400,000 projects, such as building schools, roads, playgrounds, and airports. -
The 21st Amendment is Passed
The 21st Amendment repealed prohibition and the Eighteenth Amendment. -
The Securities and Exchange Commission is Created
The Securities and Exchange Commission was a New Deal Commission designed to regulate the stock market and ensure that corporations gave investors accurate information about their investments. -
The Social Security Act is Created
The Social Security Act was created in 1935 and created retirement pensions for most Americans, as well as unemployment insurance. -
Roosevelt Wins the Election of 1936
In 1936 the Literary Digest conducted a poll to predict the presidential election. Based on its poll, it predicted the election of Landon over Roosevelt. In the actual election, Roosevelt won. Roosevelt took every state but Vermont and Maine, winning with the fourth-largest electoral vote margin in American history. -
Roosevelt Threatens the Court Packing Plan
The Court Packing Plan was a proposal made by Franklin Roosevelt to increase the size of the Supreme Court and reduce its opposition to New Deal legislation. Congress failed to pass the measure, and the scheme undermined Roosevelt’s popular support. -
The Fair Labor Standards Act is Passed
The Fair Labor Standards Act provided a minimum wage of 40 cents an hour and a forty-hour workweek for employees in businesses engaged in interstate commerce.