Federal Deposit Insurance Corporation, guaranteed individual bank deposits up to $2,500. This helped restore confidence in banks and stabilize the banking system. Before the stock market crash, banks had used depositors' savings for risky investments. With Roosevelt's bank inspections, these actions helped reassure people about the banking industry. Today it still works monitor and address risks to the deposit insurance funds and helps promote confidence in our banks.
Another important effect of the New Deal is the Agricultural Adjustment Administration where the agency paid farmers to plant less land and raise fewer animals. Many Americans resented paying farmers to grow less food while people were hungry, but by doing so, farm prices started to rise. Later, the government bought excess food instead, storing it to sell when prices got higher. This is still in the act today providing an abundance in farm crops for Americans.
National Recovery Administration was also a crucial part of the New Deal. This worked to increase production, and the agency let competing companies work together to set prices, working hours, and minimum wages. It also guaranteed workers the right to join unions and to bargain for contracts. This is still relevant today because it ensures worker are paid fairly, sets reasonable prices on goods and sets reasonable working hours.
