jan 9, 1933 - First New Deal

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Much like a surgeon assessing the condition of an emergency room patient, Roosevelt began his administration with a broad, if not specific, strategy in mind: a combination of relief and recovery programs designed to first save the patient (in this case, the American people), and then to find a long-term cure (reform through federal regulation of the economy). What later became known as the “First New Deal” ushered in a wave of legislative activity seldom before seen in the history of the country. By the close of 1933, in an effort to stem the crisis, Congress had passed over fifteen significant pieces of legislation—many of the circulated bills allegedly still wet with ink from the printing presses as members voted upon them. Most bills could be grouped around issues of relief, recovery, and reform. At the outset of the First New Deal, specific goals included 1) bank reform; 2) job creation; 3) economic regulation; and 4) regional planning.

Agricultural Adjustment Act AAA 1933 Protected farmers from price drops by providing crop
subsidies to reduce production.

Civilian Conservation Corps CCC 1933. Sent 250,000 young men to work camps to perform
reforestation and conservation tasks.

Federal Emergency Relief Act FERA 1933 Distributed millions of dollars of direct aid to
unemployed workers.

Glass-Steagall Act FDIC 1933 Created federally insured bank deposits ($2500 per investor at first) to prevent bank failures.

National Industrial Recovery Act NIRA 1933 Created NRA to enforce codes of fair competition, minimum wages, and to permit collective bargaining of workers.

Tennessee Valley Authority TVA 1933 Federal government build series of dams to prevent
flooding and sell electricity.

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