New Deal Flashcards: Relief, Recovery, Reform

New Deal Key Terms and Definitions

Bank Holiday
- Implemented by FDR to restore trust in banks and enhance their solvency for the American populace.
Glass-Steagall Banking Act
- Led to the formation of the Federal Deposit Insurance Corporation.
- Aimed to stabilize banking and prevent future economic crashes, ensuring personal bank deposits were protected.
Federal Securities Act
- Shifted regulation of securities sales from state to federal control, increasing oversight.
Agricultural Adjustment Act (AAA)
- Provided financial compensation to farmers affected by the Great Depression.
- Aimed to stabilize job security and improve the farming industry post-Dust Bowl.
Civilian Conservation Corps (CCC)
- Created government jobs focused on environmental protection and welfare.
- Reduced the poverty rate by providing employment relief during the Great Depression.
Federal Emergency Relief Administration (FERA)
- Allocated $500 million to states to manage economic crises, a move criticized by Hoover.
Public Works Administration (PWA)
- Aimed at federal-level construction and infrastructure development as part of the New Deal.
Civil Works Administration (CWA)
- Job creation initiative for unemployed laborers, focused on building essential infrastructure.
Tennessee Valley Authority (TVA)
- Established in 1933, it facilitated projects in electricity generation, housing, and environmental stewardship, enhancing welfare support.
Home Owner's Loan Corporation (HOLC)
- Created in 1933 to refinance mortgages and prevent foreclosures during economic hardship.
National Industrial Recovery Act (NIRA)
- Introduced the Wagner Act and emphasized work ethics and employment for the unemployed, injecting funds to stimulate the economy.
Federal Housing Administration (FHA)
- Established in 1934 to promote the housing market through small loans to builders.
Works Progress Administration (WPA)
- Employed millions for public works and arts projects to document the Great Depression experience.
National Youth Administration (NYA)
- Focused on providing education and job opportunities for youth aged 16-25.
Wagner Act
- Enacted in 1935, it facilitated the formation of labor unions, significantly impacting workers' rights.
Rural Electrification Act
- Created federal loans to power companies to improve electricity access in rural areas.
Social Security Act
- Established in 1935, it offered financial support to the elderly and unemployed through a payroll tax system, marking a significant advancement in American welfare.