What recovery measures did the New Deal undertake?

Question

What will be an ideal response?

Answer 1

The New Deal revamped banking and financial institutions. The Glass-Steagall Act of 1933 created the Federal Deposit Insurance Corporation (FDIC), insuring the accounts of small depositors in member banks. The Securities and Exchange Commission (SEC) reformed the practices of buying and selling stock. Reforms in home mortgage lending practices refinanced one out of every ten home mortgages and offered insurance to private lenders who financed home mortgages for new homes.

The New Deal also tried to help industry. The National Recovery Administration (NRA) suspended antitrust laws and brought competitors together to set prices, production quotas, and wages. The NRA was later declared unconstitutional in 1935

The New Deal created a variety of programs to provide millions of jobs during the Depression. The Civil Works Administration (CWA), Civilian Conservation Corps (CCC), and Public Works Administration (PWA) were all founded in 1933 . The Works Progress Administration (WPA) was a major public works program that from 1935 to 1943 employed more than eight million workers, one-fifth of the workforce.

The New Deal likewise helped out the agricultural sector and rural areas of the nation. The Agricultural Adjustment Act (AAA) of 1933 was designed to pay farmers to take land out of cultivation, which in theory should cause crop prices to rise. When this failed, FDR approved laws that established marketing quotas for each commodity. To encourage better farming practices, the government paid farmers in the Dust Bowl region to plant soil-improving crops like legumes instead of traditional cash crops such as wheat, cotton, and tobacco. To help the rural poor, Tennessee Valley Authority (TVA) was created. The TVA was a government-owned utility company that provided thousands of jobs as it built dams that generated power, provided flood relief, and created recreational lakes throughout the seven states serviced by the Tennessee River. The 1934 Indian Reorganization Act ended land allotment policies under the 1887 Dawes Act and returned some self-government to Indian reservations.

The New Deal also made strides toward social justice for Americans. FDR created a comprehensive social-welfare system in 1935 called the Social Security Administration in order to provide relief for the aged, the unemployed, and those unable to care for themselves. The Social Security pension system was like private insurance in that premiums were collected from individual subscribers in the form of payroll taxes, which were later returned to retired workers. With the National Industrial Recovery Act, federal government suddenly became labor's friend. The NIRA gave workers the right to organize and bargain collectively. This was replaced by the Wagner Act, which created the National Labor Relations Board (NLRB) to supervise unions' elections for their collective bargaining agents. And the Fair Labor Standards Act established a national minimum hourly wage, set maximum hours for the workweek, and outlawed labor by children under 16.