The New Deal :: essays research papers

In 1933 the newfound professorship, Franklin Roosevelt, brought an air of confidence and optimism that quickly rallied the people to the banner of his program, known as the New Deal. "The only thing we pack to fear is fear itself," the president declared in his inaugural address to the nation. Perhaps he should have said the only thing we have to fear is complacency. What was truly remarkable about the New Deal was the speed with which it accomplished what previously had taken generations. However, many of the reforms were created in haste and weakly executed. And during the New Deal, public impeach and contention were never interrupted or susp land uped. When Roosevelt took the presidential oath, the banking and credit agreement of the nation was in a state of collapse. With astonishing speed the nations banks were scratch closed and then reopened only if they were solvent. The administration adopted a constitution of moderate currency inflation to start an upward movement in commodity prices and to afford some relief to debtors. New governmental agencies brought handsome credit facilities to industry and agriculture. The Federal Deposit Insurance Corporation (FDIC) see to it savings-bank deposits up to $5,000, and severe regulations were imposed upon the sale of securities on the stock exchange. In addition to aggressive legislation to corral the failing bank organization FDR vigorously attacked unfair headache practices. The National Recovery Administration (NRA), conventional in 1933 with the National Industrial Recovery Act (NIRA), attempted to end cut-throat competition by setting codes of fair competitive practice to hold more jobs and thus more buying. Although the NRA was welcomed initially, business complained bitterly of over-regulation as convalescence began to take hold. The NRA was declared unconstitutional in 1935. By this time some other policies were fostering recovery, and the government soon took the position that admin istered prices in certain lines of business were a severe drain on the national economy and a barrier to recovery. It was also during the New Deal that organized labor make greater gains than at any previous time in American history. NIRA had guaranteed to labor the right of collective bargaining (bargaining as a whole representing individual workers with industry), while not a new concept it was instead radical. Then in 1935 Congress passed the National Labor Relations Act, which define unfair labor practices, gave workers the right to bargain through unions of their own prime(prenominal) and prohibited employers from interfering with union activities.