The New Deal Step 1: Regulate banks Bank Holiday: All banks closed and evaluated Federal Depositors'’ Insurance Corporation Insures bank deposits

Securities and Exchange Commission To regulate stock market Limits buying “on-margin”

Civilian Conservation Corp Jobs with the forestry department working on the environment African Americans not permitted

TENNESSEE VALLEY AUTHORITY (TVA) Used to promote hydroelectric power, control flooding Centered on Appalachian Mountains Helps underdeveloped areas

AGRUCULTURAL ADJUSTMENT ACT (AAA) - passed in 1933 to aid farmers. AAA had farmers cut back on crop production by paying them equivalent SUBSIDIES (paid not to produce)

National Labor Relations Act (aka Wagner Act)- legalized unions and collective bargaining & collective action (strikes, etc...) it outlawed BLACKLISTS & other anti-union practices Increased Union membership

Programs to Create Jobs! Federal Emergency Relief Administration Public Works Administration Civil Works Administration Works Progress Administration

Social Security Act unemployment insurance & old age pensions

Gave Americans sense of security in chaos Lessened suffering of Great Depression WW II actually ended Great Depression Deficit spending by government became normal Provided a safety net for Americans during economic crisis's Federal government grew more powerful IMPACT OF THE NEW DEAL