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The new deal 1 and 2 (Alphabet agencies (Home Owners Loan Commission…
The new deal 1 and 2
Alphabet agencies
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Relief: Civilian Conservation Corps (CCC): To reduce unemplyment, young men to work in rural conservation projects mostly in national parkets and forests.
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Legislation
Social security Act: Produced unemployment benefits. However these were not provided for the self-employed e.g farmers.
The Gold Reserve Act which lowered the value of the US dollar against gold in order to making exports cheaper.
Fair Labour Standards Act: This created a minimum working age and raised school leaving age to 14. Alongside this it put in place maximum working hours and minimum wages.
First 100 days
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Closes the bank for 6 days - national bank holiday. Reform This resulted in only 5,000 re-opening out of 30,000. The Emergency Banking Act was put in place which secured savings upt $5000.
Response to opposition
Francis Townsend: Raised income tax for anyone earning over $5 million was raised by 10%. From 63% to 73% under the Revenue Act.
Huey Long: Social Security Act was made which provided unemployment benefits. However this ignored anyone who was self-employed.
PWA was brought together to create obs for everyone instead of having loads of little agencies. This helped in reducing costs.
Court packing plan: FDR wanted to force all judges within the supreme court to retire by the age of 70. By 1938 this was 6/9 judges. Although he had the majority he lost this vote 20 to 70.
Roosevelt recession: This was where it was believed that the worst of the depression was over and so the government attempted to reduce spending which only made things worse.
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