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Khang Luu White AP US History 13 March 2014 New Deal Assignment Federal Emergency Relief (FERA) Purpose: Relief

Objective: Increase the action capability relief efforts, concentrating those that could work in the relief rolls and providing them employment, increase the range of different relief programs Elaboration: Instead of simply creating new projects, FERA aimed to provide real work for the employable especially in areas which relied on the workers previous expertise. In order to increase the action capability of relief efforts, FERA mandated that states report to the government the amount of money required to provide adequate aid. Essentially, this was an effort to increase cooperation between state and the federal government. Successes and Failures: FERA was not a 100% success but was ultimately effective enough to keep families together and keep people employed until the Works Progress Administration could be put into effect in 1935

Federal Deposit Insurance Corporation (FDIC) Purpose: Relief Elaboration: The product of the Glass-Steagall Banking Reform Act. The FDIC would initially insure individual deposits for $5000. The FDIC kept the banks from maintaining the trend of failing which stemmed from the wildcat days under Jackson. The FDIC became a permanent government institution via the Banking Act of 1935. The FDIC was allowed to keep watch of state non-member banks. It also allowed the branching of national banks state-wide within the limits of state legislature. Successes and Failures: Its successes lay in its ability to keep the banks running with as few hitches as possible. The FDIC maintained that banks must keep a minimum reserve and put up limitations that kept banks from ruining themselves by investing too much in real estate, for instance. Its effect is most clearly shown by the comparison of the 9,000 banks that closed in March of 1933 to the mere 9 that closed in 1934. Critics of the FDIC said that it was too expensive and stood in the way of a free market economy by being too guarded.

Civilian Conservation Corps (CCC) Purpose: Relief Elaboration: Environmentally driven, it provided 3 million young men with jobs in fire fighting, reforestation, swamp drainage, etc. Despite only paying the men only $1 per day, the CCC provided free board and job training. The program lasted three years from 34 to 37 and also played a part in funding a similar program for 8500 women. This program became one of the most popular programs with the public and improved general morale, physical condition, and employability. 3 billion trees planted and 800 parks constructed were the result of the efforts of the CCC. Successes and Failures: Mostly seen as successful, the CCC greatly improved the nations infrastructure by improving and creating new roads, improving transport infrastructure. It also helped immensely with deforestation. The CCC also encouraged the ideal of independent living among the people, improving public self-esteem. In addition to that, the CCC increased peoples appreciation and reverence for Americas natural settings and natural resources. Critics of the FDR bagged on the CCC, calling it a way to militarise young men.

National Industrial Recovery Act (NIRA) Purpose: Reform Elaboration: Triggered by industrial prices plummeting in the 1930s and their effect on the failure of businesses and unemployment, the NIRA was created in order to help workers and businesses by upping the prices. The NIRA sought to also encourage trade associations and industries to produce regulatory codes to standardise wages, working conditions, production, and prices. The minimum was also set by these codes. $3.3 billion would also be pumped into public works projects under Title II of this Act. The National Recovery Administration was positioned to overlook the implementation of the new labour codes and was lauded by the public. Successes and Failures: The newly implemented codes kept the prices from dropping out of control for a duration but once wages rose, prices rose with them. The NRA did its best to support businesses and make conscientious decisions and while initially lauded, both worker and public alike began resenting the NIRA. Overproduction by the businesses was met by under-consumption by the public and forced many of the businesses back down anyway. The

SC would later declare this Act unconstitutional and many would later express the sentiment of the NIRA being too complex and the NRA being too rigid.

Federal Securities Act/ Securities and Exchange Commission (SEC) Purpose: Reform Elaboration: The FSA required businesses to report investor-sworn information on the stocks being sold. The SEC was set up to watch over this process and regulate the stock market. The Federal Reserve Board would be granted the power to regulate the purchase of stock. Its main goals were to increase transparency in financial statements to facilitate investments and help investors make more informed decisions and to establish regulations and laws to keep security markets free from misrepresentation and fraud. Successes and Failures: Praised as a success, the regulations set down by the Federal Securities Act were crucial for the long-term success of businesses. The FSA increased the sale of securities and brought the federal government into the regulation of the stock market as opposed to state governments as it were prior to 1929. The requirement of registration by the SEC maintained crucial transparency in business by forcing businesses to disclose all relevant information. Essentially, the FSA transformed the American stock market from a casino into a trading mart.