Franklin D. Roosevelt: The New Deal
The National Industrial Recovery Act (NIRA) was an act designed to regulate industry in an attempt to stimulate economic recovery after experiencing severe deflation. Along with that, it was supposed to help set up maximum work hours, and minimum wages, while encouraging collective bargaining for unions. In my opinion, the act was successful because it was one of the acts established in Roosevelt’s first 100 days, and it may have been strict, but did amongst other things help to stimulate the economy. And the goals of setting up maximum working hours was eventually reached, and minimum wage was also established in 1938. Can be categorized as a recovery act.
The Agricultural Adjustment Act (AAA) was designed to restore prices being paid to farmers for their goods to a level equal in purchasing power to that of 1909–14, which was a period of comparative stability. Crops were so abundant and the prices were so low that farmers were making little if any profit at all. It can be seen as a success, but drought conditions may have also impacted the price increase. Without the drought conditions, little change would have occurred and this act would be seen as a failure. Can be categorized into a recovery act. The Agricultural Adjustment Act of 1938 was an alternative to the previous Agricultural Adjustment Act of 1933.
The Emergency Banking Relief Act was put in place as a way for American’s to regain confidence in the economy. In one of FDR’s fireside chats, he said “I can assure you it is safer to keep your money in a reopened bank than under the mattress.” Banks were shut down for four days and were not allowed to be reopened until they were inspected and deemed alright to reopen. After the four day bank closure, many people were returning to banks in order to redeposit their money. Wall Street saw the Dow Jones increase by over 15%, the largest one day increase ever. This act also eliminated the United States gold standard, which in turn gave way to monetary
The Agricultural Adjustment Act (AAA) was designed to restore prices being paid to farmers for their goods to a level equal in purchasing power to that of 1909–14, which was a period of comparative stability. Crops were so abundant and the prices were so low that farmers were making little if any profit at all. It can be seen as a success, but drought conditions may have also impacted the price increase. Without the drought conditions, little change would have occurred and this act would be seen as a failure. Can be categorized into a recovery act. The Agricultural Adjustment Act of 1938 was an alternative to the previous Agricultural Adjustment Act of 1933.
The Emergency Banking Relief Act was put in place as a way for American’s to regain confidence in the economy. In one of FDR’s fireside chats, he said “I can assure you it is safer to keep your money in a reopened bank than under the mattress.” Banks were shut down for four days and were not allowed to be reopened until they were inspected and deemed alright to reopen. After the four day bank closure, many people were returning to banks in order to redeposit their money. Wall Street saw the Dow Jones increase by over 15%, the largest one day increase ever. This act also eliminated the United States gold standard, which in turn gave way to monetary