four-day bank holiday. The following measure of Great Depression was:1. The measure for current money and national finance. The Congress passed the Emergency Banking Relief Act. In April 4, 1933, he proclaimed to prohibit personal gold storage, and gold bonds; the export of gold also was prohibited to stop the gold standard. Thus, dollar began to depreciate rapidly. The depreciated dollar raised the price and stimulated export. It was a very risky but successful action. 2. The measure to release the agriculture crisis. In May 12, FDR signed one of the most controversial laws to establish Agricultural Adjustment Administration (AAA). It was set up to provide immediate relief to nation’s farmers and raised the price of agriculture products. Farmers received benefit payment in return for reducing acreage or cutting production. It seems out of norm even inhuman to reduce the agriculture production when there were hundreds of thousands starving people in the cities. But the government meant to replace the blind free plant with a planed plant, which has the market requirement in mind. It greatly improved the farmers’ economic statue, and raised the price quickly. It is the first time government interfere the agriculture directly by subsidy, heavy taxes and contracts. It also seriously changed the traditional free market system. Some people believe it save the America’s capitalism agriculture, others complain that it gave government too much power.3. The industrial recovery plan. Although coming out under different pressure and compromises, the National Industrial Recovery Act (1933) tried to solve the problems of blind competition between enterprises, extremely poverty workers, and the sharp contradiction in the relations between labor and capital by government interference. It asked each industry to be self-governed by a code hammered out by representatives of business, labor, and the consuming public. The famous Section ...
