essay26 - AMERICANCIVILIZATION UNITEDSTATESHISTORY170...

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AMERICAN CIVILIZATION UNITED STATES HISTORY 170 Rhett S. James Marcio Carvalheiro History 170 Chapter 26 November 24, 2008 The New Deal 1. Constitutional Democracy On the morning after passage of the Emergency Banking Act,  Roosevelt sent to Congress another measure the Economy Act designed to  convince the public (and especially the business community) that the  federal government was in safe, responsible hands. The act proposed to  balance the federal budget by cutting the salaries of government employees  and reducing pensions to veterans by as much as 15 percent. Like the  banking bill, this one passed through Congress almost instantly. Later that  spring, Roosevelt signed the Glass-Steagall Act of June 1933, which gave  the government authority to curb irresponsible speculation by banks. 1
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essay26 - AMERICANCIVILIZATION UNITEDSTATESHISTORY170...

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