NRA, National Recovery Administration, 1933 NRAB, National Railroad Adjustment Board, 1934 NLRB, National Labor Relations Board, 1935 NBCC, National Bituminous Coal Commission, 1935 HOLC, Home Owners Loan Corporation, 1933 What did the letters in all those "alphabet agencies" stand for?ĪAA, Agricultural Adjustment Administration, 1933įCC, Federal Communications Commission, 1934įCIC, Federal Crop Insurance Corporation, 1938įDIC, Federal Deposit Insurance Corporation, 1933įERA, Federal Emergency Relief Agency, 1933įFMC, Federal Farm Mortgage Corporation, 1934įHA, Federal Housing Administration, 1934 Through employment and price stabilization and by making the government an active partner with the American people, the New Deal jump-started the economy towards recovery.
HUNDRED DAYS DEFINITION SERIES
The NRA (National Recovery Administration) sought to stabilize consumer goods prices through a series of codes. The FERA (Federal Emergency Relief Administration) and the WPA (Works Progress Administration) provided jobs to thousands of unemployed Americans in construction and arts projects across the country. The TVA (Tennessee Valley Authority) provided jobs and brought electricity to rural areas for the first time. The CCC (Civilian Conservation Corps) provided jobs to unemployed youths while improving the environment. FDR declared a "banking holiday" to end the runs on the banks and created new federal programs administered by so-called "alphabet agencies" For example, the AAA (Agricultural Adjustment Administration) stabilized farm prices and thus saved farms. In the First Hundred Days of his new administration, FDR pushed through Congress a package of legislation designed to lift the nation out of the Depression. Following his inauguration as President of the United States on March 4, 1933, FDR put his New Deal into action: an active, diverse, and innovative program of economic recovery. In his speech accepting the Democratic Party nomination in 1932, Franklin Delano Roosevelt pledged "a New Deal for the American people" if elected. With the country sinking deeper into Depression, the American public looked for active assistance from the federal government and grew increasingly dissatisfied with the economic policies of President Herbert Hoover. What was FDR's program to end the Great Depression? America 's unemployed citizens were on the move, but there was no place to go that offered relief from the Great Depression. Residents of the Great Plains area, where the effects of the Depression were intensified by drought and dust storms, simply abandoned their farms and headed for California in hopes of finding the "land of milk and honey." Gangs of unemployed youth, whose families could no longer support them, rode the rails as hobos in search of work. "Hoovervilles," or shantytowns built of packing crates, abandoned cars, and other scraps, sprung up across the nation. The displacement of the American work force and farming communities caused families to split up or to migrate from their homes in search of work. Although farmers technically were not counted among the unemployed, drastic drops in farm commodity prices resulted in farmers losing their lands and homes to foreclosure.
How high was unemployment during the Great Depression?Īt the height of the Depression in 1933, 24.9% of the total work force or 12,830,000 people was unemployed. The resulting lower incomes meant the further inability of the people to spend or to save their way out of the crisis, thus perpetuating the economic slowdown in a seemingly never-ending cycle. Factories were shut down, farms and homes were lost to foreclosure, mills and mines were abandoned, and people went hungry. Reduced prices and reduced output resulted in lower incomes in wages, rents, dividends, and profits throughout the economy. By the time that FDR was inaugurated president on March 4, 1933, the banking system had collapsed, nearly 25% of the labor force was unemployed, and prices and productivity had fallen to 1/3 of their 1929 levels. The causes of the Great Depression were many and varied, but the impact was visible across the country. The "Great Depression " was a severe, world -wide economic disintegration symbolized in the United States by the stock market crash on "Black Thursday", Octo.
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