- New Deal Project
Emergency banking and relief act.
- An act of the US congress
- started by FDR during teh time of the Great Depression
- Passed on March 3, 1933
- Close down banks that are permiles and reorganize
- those banks strong enough to survive
- public on March 9, 1933 ti cibgree,
- Over 100 Democratic members of Congress to ready to take small shops into adressing to banking failures and as well as other economic weaknesses
- Four days aftger Franklin D Roosevenlt declared a nation vinda bank holiday.
- Federal Reserves commitment to provide unlimited amounts of currency to reopened banks.
- reopened on march 13, 1933
- stood in line to return their cash they had carefully hidding
- within two weeks most Americans returned their money to banks.
Banking act of '93
- Established the Federal DEposit Insurance Corporation
- AKA Glass-Steagall Act
- Introduced Banking Reforms which were designed to control speculation
- Effort to curb deflation (Decrease in prifce levels.
- Allowed Federal REserve to regulate interest rates in savings accounts
- Seperated commercial banking and investment banking.
Music
Despite going through a depression severe drought.
Country (Hillbilly Music)
Woody Guthrie was a big name as well as Huddie Ledbetter.
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