In his speech accepting the Democratic Party nomination in 1932, Franklin Delano Roosevelt pledged "a New Deal for the American people" if elected. Following his inauguration as President of the United States on March 4, 1933, FDR put his New Deal into action: an active, diverse, and innovative program of economic recovery. In the First Hundred Days of his new administration, FDR pushed through Congress a package of legislation designed to lift the nation out of the Depression. FDR declared a "banking holiday" to end the runs on the banks and created new federal programs administered by so-called "alphabet agencies" For example, the AAA (Agricultural Adjustment Administration) stabilized farm prices and thus saved farms. The CCC (Civilian Conservation Corps) provided jobs to unemployed youths while improving the environment. The TVA (Tennessee Valley Authority) provided jobs and brought electricity to rural areas for the first time. The FERA (Federal Emergency Relief Administration) and the WPA provided jobs to thousands of unemployed Americans in construction and arts projects across the country.
The NRA (National Recovery Administration) sought to stabilize consumer goods prices through a series of codes. Through employment and price stabilization and by making the government an active partner with the American people, the New Deal jump-started the economy towards recovery.
In sum, President Roosevelt greatly increased the responsibilities of his office. Fortunately for his successors, he also enhanced the capacity of the presidency to meet these new responsibilities.
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