 Roosevelt’s policies to end the Depression became known as the New Deal  Before Roosevelt was inaugurated in March 1933 over 4,000 banks had collapsed

 There was such a flurry of legislation sent to Congress between March and June of 1933 that this period became known as the Hundred Days  These programs made up the first New Deal

 When FDR took office he declared a national bank holiday  Congress passed the Emergency Banking Relief Act, which required the Treasury Dept. to review each banks records and determine if they were stable enough to re-open  es/101_USH/new_deal.htm es/101_USH/new_deal.htm

 New regulations were implemented for banks and the stock market with the Securities Act and the Glass- Steagall Banking Act  The Securities and Exchange Commission (SEC) was created to regulate the stock market and prevent fraud  The Glass- Steagall Banking Act created the Federal Depository Insurance Corporation (FDIC) that provided government insurance for bank deposits

 Managing Farms and Industry  The Agricultural Adjustment Act (AAA) paid farmers not to raise certain crops and to lower crop production  The National Industrial Recovery Act (NIRA) suspended antitrust laws, and allowed business and government to cooperate and set up “codes of fair competition” The NIRA was declared unconstitutional by the Supreme Court in 1935

 Debt Relief  The Home Owners loan Corporation (HOLC) purchased the mortgages of people behind on payments and offered them restructured loans at lower rates  Work Relief  The Civilian Conservation Corps (CCC) employed young men ages  The Civil Works Administration (CWA) hired civilians and put them on the government’s payroll

 The New Deal did not end the Depression  The most important aspect of Roosevelt’s New Deal was the change in the spirit of the American people.  People became hopeful and optimistic, and their faith in America was restored