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Weekly 5 - Essay Example

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134). Subsequently taking the oath of office, Roosevelt progressed to deliver his inaugural address. In his inaugural address,…
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Weekly 5

Download file to see previous pages... In his inaugural address, Roosevelt directly blamed businessmen and bankers for being greedy and short-termed (Allswang, p. 89). Roosevelt believed that they were the villains that caused economic crunches and its moral dimensions.
The first phase (1933-34) tried to deliver recuperation from the Great Depression. This was through programs that regulated business and agriculture, price stabilization, inflation and public works. Getting-together in (1933) in special session, the Congress established several emergency organizations, remarkably the National Recovery Administration (NRA), the Agricultural Adjustment Administration (AAA), the Federal Deposit Insurance Corporation (FDIC) and the Public Works Administration and Civilian Conservation Corporation among others (Allswang, 1978). The Congress also instituted farm relief, stiffened finance and banking regulations, and established the Tennessee Valley Authority. Afterwards, Democratic Congresses dedicated themselves to intensifying and modifying these laws. In 1934, Congress established the Federal Communications Commission and Securities and Exchange Commission and passed the National Housing Act, Trade Agreements Act and several currency acts business (Allswang, p. 17).
The second phase of the New Deal (1935-41), continued with relief and recovery measures, providing for economic and social legislation to help the mass of working people. In 1935, the social security system was set up. In the same year, the Work Projects Administration and National Youth Administration were established (Allswang, 1978). The Fair Labor Standards Act was approved in 1938. The Revenue Acts of 1935, 1936, and 1937 provided techniques to democratize the federal tax structure. In 1935, a number of New Deal methods were overturned by the Supreme Court, however; the National Recovery Administration was struck down and the subsequent year the Agricultural Adjustment ...Download file to see next pagesRead More
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