APStudent.com XII. Great Depression and FDR After the panic, U.S. banking system disappeared Panic and depression cut off international trade Agricultural marketing program Hawley-Smoot tariff raised tariffs on agricultural goods Government started buying farmers' produce 1932 - Reconstruction Finance Corporation Gave money to build buildings and roads Created jobs Bonus Army Marched on Washington Hoover called out the army to drive them off (army was led by Douglas McArthur and George Patton) Economy sank even further in 6 months before FDR took office Emergency Banking Act ("Bank Holiday") FDR closed all banks for 100 days to stop the run on the banks Prevented the last banks from collapsing FDIC Government insured the money in banks Lured people back into banking Economy Act - cut military pensions to give government more money 1933 - Agricultural Adjustment Act Put limits on farm production to keep prices up 1936 - declared unconstitutional 1936 - Soil Conservation Act Replaced Agricultural Adjustment Act Farmers were paid not to grow certain crops Resettlement Association - modernized and consolidated farms 1937 - Farm Security Administration Taught people new farming techniques 1935 - Rural Electrification Administration Built dams to regulate water and provide electricity Tennessee Valley Authority 1933 - National Recovery Act and Administration Industry wanted to suspent Antitrust law FDR allowed it on condition that businesses recognize unions 1933 - Gold Standard abolished Used bonds redeemable for gold or silver 1933 - Securities Exchange Act Regulated buying of stocks 1933 - Federal Emergency Relief Administration Provided money to local relief agencies Was ineffective 1933 - Civil Works Administration Put people to work building roads, parks, bridges, etc. Civilian Conservation Corp. - gave people jobs in National Parks Second New Deal 1935 - FDR enacted steeply progressive income tax Had little effect on Depression 1935 - National Labor Relations Act and Board (Wagner Act) Unions increased John Lewis of United Mine Workers was important union leader AFL and CIO considered merger 1935 - Social Security Act 1935 - Works Progress Administration Similar to Civil Works Administration, but bigger Included the Federal Arts Project Cleared out slums and built new housing U.S. Housing Authority was created to take over building housing 1936 - FDR carried all but 2 states in election vs. Alf Landon 1937 - FDR tried to increase size of Supreme Court FDR wanted to increase court to 15 judges FDR would get to pick all the new judges Would have given the executive branch too much control of judicial Caused an outcry FDR backed down when the current Court upheld Wagner Act and Social Security Act 1937 - another recession, FDR put more money into New Deal programs New Deal did almost nothing to aid minorities