Roosevelt saw the establishment of a number of agencies and measures designed to provide relief for the unemployed and others. The
Federal Emergency Relief Administration, under the leadership of Harry Hopkins, distributed relief to state governments.
[160] The
Public Works Administration (PWA), under Secretary of the Interior Harold Ickes, oversaw the construction of large-scale public works such as dams, bridges, and schools.
[160] The Rural Electrification Administration (REA) brought electricity for the first time to millions of rural homes.
[155] The most popular of all New Deal agencies—and Roosevelt's favorite—was the
Civilian Conservation Corps (CCC), which hired 250,000 unemployed men for rural projects. Roosevelt also expanded Hoover's
Reconstruction Finance Corporation, which financed railroads and industry. Congress gave the
Federal Trade Commission broad regulatory powers and provided mortgage relief to millions of farmers and homeowners. Roosevelt also set up the
Agricultural Adjustment Administration to increase commodity prices, by paying farmers to leave land uncultivated and cut herds.
[161] The policies were criticized when, in a few cases, crops were intentionally plowed under and livestock was killed as a result.
[155]
Reform of the economy was the goal of the
National Industrial Recovery Act (NIRA) of 1933. It sought to end cutthroat competition by forcing industries to establish rules such as minimum prices, agreements not to compete, and production restrictions. Industry leaders negotiated the rules with NIRA officials, who suspended
antitrust laws in return for better wages. The
Supreme Court in May 1935 declared NIRA unconstitutional, to Roosevelt's chagrin.
[162] He reformed financial regulations with the
Glass–Steagall Act, creating the
Federal Deposit Insurance Corporation to underwrite savings deposits. The act also limited affiliations between commercial banks and securities firms.
[163] In 1934, the
Securities and Exchange Commission was created to regulate the trading of
securities, while the
Federal Communications Commission was established to
regulate telecommunications.
[164]