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Federal Deposit insurance Commission
This commission provided government insurance for banks deposits. During the depression this increased Americas confidence in its banking systems and gave hope to the country. Today, we have confidence that we know our money is safe, this too gives us confidence even today -
Glass-Steagall Act
This act separated commercial banking from investment banking. This meant that commercial banks would handle everyday transactions and could no longer risk depositors money through stock speculation. This kept peoples money safe and lessoned the risk of the stock market crashing. Today we have the FDIC because of the act. -
Security Exchange and Commsion Act
The Security Exchange and Commision act was created to regulate the stock market and stop fraud. During the Depression, this act made America have confidence in its banks again. It gave America hope that things were changing for the better. Today, the effects of the SEC are still present. We are very unlikely to experience a depression again and maintains confidence in the stock market. -
Federal Housing Authority
This organization received $500 million to subsidize loans to builders willing to construct low-cost housing. During the Depression, this helped the poor people of America get into a home and also decreased poverty rates. Today we have all sorts of relief groups because of the Federal Housing Authority. Things such as homeless shelters and food pantries were created because this act got the ball rolling. -
Social Security Act
The Social Security Act provided some financial security for older Americans, unemployed workers and others. During the deppresion this was a very big step in the right direction because it showed that the government was starting to be able to help people and get on their feet again. Today we see welfare and special taxes because of this act. -
National Labor Relations board
The National Labor Relations board organized factory elections by secret ballot to determine whether or not workers wanted a union. They also investigate employers actions to stop unfair practices. During the depression, it improved working conditions which was something America greatly needed. Today, the NLRB protects workers. We see a lot less unfair and neglectful acts in businesses. -
Fair Labor Standards Act
This act abolished child labor, limited the work week to 44 hours, and set the federal minimum wage to 25 cents. This relieved many workers and stopped a lot of neglectful practices at the work place. Today, we don't have child labor, we have 40 hour work weeks and the minimum wage has been raised because of this act. -
Agriculture Adjustment act
This act had the the government agriculture administration pay farmers not to raise certain livestock, grow certain crops and produce dairy products. Over the next two years, farmers withdrew millions more acres from cultivation and received more than $1 billion in support payments. However not all farmers benefited from this act. Eventually the act was deemed unconstitutional so there aren't many effects of it on America today.
