ACTS OF 1933

Emergency Banking Bill: This was the bill issued during the "bank holiday" to reorganize and strengthen solvent banks before they were reopened.

Glass-Steagall Act of 1933: This act separated commercial from investment banking and created the Federal Deposit Insurance Corporation to protect small deposits.

Farm Credit Act: This act refinanced a fifth of all farm mortgages for a period of 18 months, and created the Farm Credit Administration.

National Industrial Recovery Act: This act created a massive program of public works, guaranteed workers the right to bargain collectively, established codes of fair practice and trade, and created the National Recovery Administration to carry them out.

Truth-in-Securities Act: This act requires anyone offering stocks, bonds or other securities for sale to make a "full and fair disclosure" of financial and other information relating to the issues involved. It also mandated that companies disclose the securities holdings of their officers and directors. This was after years of dishonest dealings by investors seeking to cut their losses short as the Depression worsened. The next year, in 1934, the Securities and Exchange Commission would be created to better carry out the provisions of the Act.

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