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Period: to
The Great Depression
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Smoot - Hawley Tariff
By taxing imported goods, Congress hoped to stimulate American manufacturing, but the tarrif triggered retaliatory tariffs in other countries, which further hindered global trade and led to greater economic contraction. -
The Election of 1932
Elected in November, Roosevelt would not begin his presidency until March 1933. -
National Recovery Administration
Federal agency established to promote industrial recovery during the Great Depression. It encouraged industrailists to voluntarily adopt codes that defined fair working conditions, set prices, and minimized competition. -
Glass-Steagall Act
Created the Federal Deposit Insurance Corporation, which insured deposits up to $2,500. The act also prohibited banks from making risky, unsecured investments with customers' deposits. -
Unemployment
Congress established the Public Works Administration, a construction program. Several months lather Roosevelt created the Civil Works Administration. It provided federal jobs for the citizens. -
Securities and Exchange Commission
It was to regulate the stock market.The commission had broad powers to determine how stocks and bonds were sold to the public, to set rulesf or margin transactoins, and to prevent stock sales by those with inside information about corporate plans. -
The National Association of Manufactures
It was more important thean the Liberty League in opposing the New Deal. It was sparked by a new generation of busniess leaders who belived that a publicity campaign was needed to serve the purposes of business salvatoin, The NAM produced radio programs, motion pictures, billboards, and direct mail. The NAM promoted free enterprise and unfettered capitalism. The NAM emerged as a staunch critic of liberialism and forged alliances with influential conservative politicians. -
Indian Reorganization Act
The law reversed the Dawes Act of 1887 by promoting Indian self-government through formal consitutions and democratically elected tribal councils. A majority accepted the reorganization policy, but 77 declined to participate, primarily because they preferred the traditonal way of making decision by consensus rather than by majority vote. Indians won a greater degree of religoius freedom, and tribal governments regained their status a s semisovereign dependent nations. -
The Banking Act of 1935
It was authorized the president to appoint a new Board of Governers of the Federal Reserve System, placing control of interest rates and other money-market policies in a federal agency rather than in the hands of private bankers. -
Wagner Act
Upheld the right of industrial wokers to join unions and established the National Labor Relations Board, a federal agency with the authority to protect workers from employer coercion and to guarentee collective bargaining. -
Agricultural Adjustment Act
Direct governmental regulation of the farm economy for the first time. The AAA provided cash subsidies to farmers who cut production of seven major commodities: wheat, cotton, corn, hogs, rice, tobacco, and diary products. Policymakers hoped that farm prices would rise as production fell.
