But one of the main problems that he went straight into trying to solve was the loss of confidence by the public in the banks. A measure was introduced called the Emergency Bank Act. At this time there were very few major banks, all independent businesses, Roosevelt closed all but 5000 of them, these had been thoroughly and were supported by government money. To prevent a future occurrence certain rules were introduced. These rules made up the Securities Exchange Commission.
Dozens of agencies were created; each one had very specific objectives to tackle during the recovery. These also provided work for millions unemployed, and although the pay was usually quite minimal this helped in bringing back the countries trade and economy.
The Federal Emergency relief Administration (FERA) worked directly to help with urgent needs of the poor. Millions of dollars was spent to prevent hunger and try out employment schemes and provide a source of education for young children. But there was an agency that dealt specifically in trying to employ young men. They worked on environmental projects; they could only work for a period of six months at a time.
To prevent future jobs in industry from degrading to the previous standard before the depression, laws were created by an agency called the National Recovery Administration (NRA), which would improve working conditions, work hours and fair wages. They also banned child labour. This and the Public Works Administration (PWA) were both set up by the National Industrial Recovery Act (NIRA). The PWA built transportation systems such as roads and airports. These would vital once the country had worked its way out of the depression.
In total there were 15 agencies created in order to help deal with the depression. Each agency had its specific areas to work with and improve etc. There were other agencies such as the Home Owners Loan Corporation (HOLC) this helped people to pay there mortgages, the Federal Housing Administration (FHA) helped families to buy houses. The Tennessee Valley Authority (TVA) worked all over the entire Tennessee area, helping farmers to restore land and control the lakes and soil erosion by building dozens of dams. There was also the AAA, which helped farmers to grow more crops.
