http://www.answers.com/topic/franklin-d-roosevelt
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In his address, he declared that "the only thing we have to fear is fear itself". The country "asks for action, and action now. Our greatest primary task is to put people to work".
No sooner was he ensconced in the White House than he embarked on a hectic programme of reform. He closed the banks for four days. Congress was summoned into special session on 9 March and in a 100-day sitting was sent a raft of measures. Greater powers were taken to control the economy. The Emergency Banking Relief Act gave the President and the Treasury greater powers over the control of credit, currency, and foreign exchange. By resolution of Congress, the USA went off the gold standard. Public spending was reduced — the Economy Act cut federal salaries — and tax revenue increased: the Beer-Wine Revenue Act legalized the sale of the drinks and brought them within the tax mechanism. (Prohibition was repealed with the successful passage of the 21st Amendment.) The best-known measures were those providing federal relief. The Federal Emergency Relief Act gave direct relief to the states and localities, the Agricultural Adjustment Act subsidized farmers, the National Industrial Recovery Act established the Public Works Administration to create work in construction as well as protecting the rights of labour, and the Civilian Conservation Corps was founded to provide work for young men in public works projects. The Tennessee Valley Authority was created to administer a massive works programme throughout the Tennessee Valley, providing work for thousands, building dams, and generating an unprecedented public utility in the form of electricity.
The measures provided the basis for Roosevelt's New Deal. Even after the famous first "100 Days", Roosevelt was not finished. Later measures followed. Greater regulation of the economy and the stock market was introduced. More public works projects were established. Labour rights were extended. The Social Security Act of 1935 broke new ground in making provision for relief to the unemployed, the disabled, the needy, and for retirement payments to the elderly. Within three years of taking office, Roosevelt had changed dramatically the relationship between the public and private sector in making provision for the citizen.
Roosevelt's New Deal measures helped restore public confidence but they attracted opposition from significant sections of the business community and especially many in the financial community. Some of the measures also fell foul of the Supreme Court. In May 1935, the court struck down the National Industrial Recovery Act as unconstitutional, claiming that it imposed regulations on intrastate activity not permitted by the constitution. The Agricultural Adjustment Act and other acts were also later struck down.
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