Wednesday, January 21, 2009

Obama VS FDR First 100 Days

Below are the major accomplishments of FDR and the first 100 days.
Good luck matching these sweeping changes. I will post a comparison after the first 100 days pass.
March 5
FDR issues a proclamation declaring a four-day "bank holiday" throughout the nation effective March 6. All banking transactions stop and embargo on exportation of gold, silver, and currency. Summons Congress to special session for March 9.

March 9-June 16
"Hundred Days" session FDR gets a willing Congress to enact many of the New Deal programs. This first day Congress passes the Emergency Banking Act, giving FDR broad powers over banks and foreign exchange. Bank holiday ends March 10--banks can reopen when they prove that they are solvent. Within three days, 1000 banks will reopen and national confidence picks up.

March 12
FDR gives first "fireside chat".

March 31
Congress passes the Reforestation Relief Act, establishing the Civilian Conservation Corps (CCC); it provides work immediately for 250,000 young men (18-25) in reforestation, road construction and developing national parks. Work camps begin to spring up. By the time it eases in 1941, two million people have worked on its projects.

April 19
FDR takes the nation off of the gold standard.

May 12
Congress passes the Federal Emergency Relief Act, which authorizes immediate grants to states for relief projects. Unemployment has reached 14 million-over one quarter of the nation's work force.

Roosevelt signs the Agricultural Adjustment Act to provide immediate relief to farmers by setting prices for agricultural products and paying subsidies to farmers for curtailing production of certain crops that were in surplus.

May 18
Congress establishes the Tennessee Valley Authority (TVA) to construct dams and power plants along the Tennessee Valley; electricity will go to residents, many of whom lacked it previously, and fertilizer will be sold.

May 27
Congress passes the Federal Securities Act to monitor and regulate stocks and bonds.

June 6
Congress passes the National Employment System Act.

June 13
Congress passes the Home Owners Refinancing Act to provide mortgage money and other aid to homeowners. It will go out of business in June 1936 after providing loans for some one million mortgages.

June 16
The final day of the "Hundred Days" session. Congress passes the National Industrial Recovery Act (NIRA) establishing the Public Works Administration (PWA) and the National Recovery Administration (NRA).

The PWA is authorized to supervise the construction of roads, public buildings and other projects while providing employment. Secretary of the Interior Harold Ickes is tapped to head the PWA.

The NRA's goal is to stimulate competition and benefit producers and consumers by implementing various codes to establish fair trade. Compliance was to be voluntary; those who cooperate received the blue eagle "seal of approval." NRA is to be directed by General Hugh Johnson. It will be declared unconstitutional by the Supreme Court in May 1935.

Congress also passes the Farm Credit Act and the Banking Act of 1933 (which establishes FDIC).

http://xroads.virginia.edu/~MA02/volpe/newdeal/timeline_text.html

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