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National Industrial Recovery Act established National Recovery Administration.

The act established minimum wages and maximum hours.

Impact:

Child labor was abolished.

Lowered employment -> made the economic situation worse

Many industries were rapidly organized

Some people said it is helping monopolies

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It provided regular jobs in public works for unemployed men and women.

Impact:

New roads, water mains, schools, public buildings, and airports were built and improved.

8.5 million people got jobs

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helped repair, rebuild, and insure older homes

Impact:

It improved the quality of houses and prevented millions of Americans from losing their homes.

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The law gave the Secretary of the Treasury the power to investigate all banks.

Impact:

A billion dollars of deposits flowed back

Three-fourths of the nation's banks were in business again

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This Act created the Federal Deposit Insurance Corporation

It protected depositors in insured banks up to $5000.

Impact:

It maintained public confidence in the banking system. Before the establishment of the FDIC, many banks would be damaged because there were few people who deposited large amounts of money.

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The purpose of this act is to remove the chief cause of low prices by reducing the surplus of farm products.

Limiting the production of wheat, corn, and milk. Many young animals were killed.

Impact:

The price of farm products rose rapidly. Net farm income went up 240% between 1932 and 1935.

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The law gave the Secretary of the Treasury the power to investigate all banks.

Impact:

Three-fourths of the nation's banks were in business again
A billion dollars of deposits flowed back

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It provided $500 million for aid to the unemployment

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This Act provided for the unemployed, aged, dependent, and disabled people.

Impact:

People who are in a low social class, such as elderly or disabled people  can be provided for by the government

It made millions feel more secure

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It gave the president power to reduce the gold backing of the dollar by as much as 50%.

Impact:

Because of deflation, the value of money was high. Now people could pay back their debts with a cheaper dollar

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Its purpose was to regulate the stock market and prevent other abuses.

Impact:

It improved the conditions in the stock market