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Glog By; Jade Marie Berry:)
Hour 4 USH
Emergency Banking Relief Act (EBRA)
This group was for Business Assistance and Reform. The EBRA is one of the many groups that formed when Roosevelt pitched The New Deal.
The EBRA is a Reform act. This act was made to regulate bank transactions in credit, currency, gold, and silver, and foreign exchange.
Emergency Banking Act (March 9), provided the president with the means to reopen viable banks and regulate banking
Provided for federal bank inspections, thus helping restore popular confidence in the wake of widespread bank failures.
*Emergency Banking Relief Act*
>Reopened banks under government supervision!
****The agencies created from this act (signed into law April 18, 1935) were:
*Rural Electrification Administration (REA)- brought electricity to rural areas.
*National Youth Administration (NYA)- gave part-time jobs to needy high school and college students.
*Resettlement Administration- applied urban planning in depressed areas.
*Works Progress Administration (WPA)- conducted public work projects from highways to the arts.
****The projects overseen by these agencies were meant to give short-term security to workers until the private sector could provide enough jobs.