The Democratic National Convention in Chicago replaces Vice President Henry Wallace with Senator Harry Truman on July 21, 1944, in a backroom deal orchestrated by conservative party bosses and corporate interests despite Wallace’s overwhelming popularity with convention delegates. The …
Henry WallaceHarry TrumanFranklin D. RooseveltRobert HanneganEdwin Pauley+2 moreparty-capturecorporate-influencelabor-politicselite-networkspolitical-manipulation
President Roosevelt signs the Servicemen’s Readjustment Act (GI Bill) on June 22, 1944, creating transformative benefits for veterans including education, housing, and unemployment assistance. However, Southern Democrats, led by Mississippi Representative John Rankin, ensure the bill’s …
Franklin D. RooseveltCongressJohn RankinVeterans AdministrationAmerican Legionracial-discriminationwealth-inequalityhousing-policyeducation-policyfederalism-exploitation
Congress overrides President Franklin D. Roosevelt’s veto to pass the Smith-Connally Act (War Labor Disputes Act), which prohibits unions from making contributions in federal elections and empowers the federal government to seize industries threatened by strikes. The legislation is hurriedly …
Howard W. SmithTom ConnallyFranklin D. RooseveltCongress of Industrial OrganizationsUnited Mine Workers+1 morelabor-suppressioncampaign-financepolitical-action-committeesunion-bustingcongressional-action+1 more
President Roosevelt issues Executive Order 9328, the “Hold the Line Order,” on April 8, 1943, directing the National War Labor Board to prohibit any further wage increases except to correct substandard conditions or inequities. The order freezes wages for most workers while corporate …
Franklin D. RooseveltNational War Labor BoardOffice of Price AdministrationAFLCIO+1 morewage-suppressionlabor-policywartime-controlsclass-warfareeconomic-inequality
President Franklin D. Roosevelt issues a military order on June 13, 1942, establishing the Office of Strategic Services (OSS) under William “Wild Bill” Donovan, a Wall Street lawyer, Medal of Honor recipient, and well-connected Republican. The OSS becomes America’s first …
William DonovanFranklin D. RooseveltAllen DullesOffice of Strategic ServicesWall Street+1 moreintelligence-apparatusnational-security-stateelite-networkscovert-operationswall-street-government-revolving-door
President Franklin D. Roosevelt signs Executive Order 9066 on February 19, 1942, authorizing the Secretary of War and military commanders to designate “military areas” from which “any or all persons may be excluded.” Though the order never mentions Japanese Americans by name, …
Franklin D. RooseveltWar Relocation AuthorityU.S. Army Western Defense CommandJohn L. DeWittMilton Eisenhower+1 morecivil-libertiesracial-discriminationexecutive-overreachconstitutional-violationproperty-seizure+1 more
President Franklin D. Roosevelt creates the War Production Board (WPB) to coordinate wartime production, staffing it with corporate executives as ‘dollar-a-year men.’ This establishes a precedent for corporate-government partnership where business leaders shape government policy while …
Franklin D. RooseveltDonald NelsonWar Production BoardDefense contractorsWilliam Knudsencorporate-government-fusionwar-profiteeringrevolving-doordefense-industryinstitutional-capture
President Roosevelt establishes the National War Labor Board (NWLB) by executive order on January 12, 1942, creating a tripartite body of labor, industry, and public representatives to arbitrate wartime labor disputes. In exchange for labor’s “no-strike pledge” for the duration of …
Franklin D. RooseveltNational War Labor BoardAFLCIOWilliam Davis+1 morelabor-policywartime-controlsunion-powerwage-suppressioncorporate-influence
Congress passes the Excess Profits Tax Act on October 8, 1940, establishing graduated taxes on corporate profits exceeding pre-war averages. While ostensibly designed to prevent war profiteering and ensure shared sacrifice, the legislation contains numerous loopholes secured through corporate …
CongressFranklin D. RooseveltTreasury DepartmentNational Association of ManufacturersU.S. Chamber of Commercewar-profiteeringtax-policycorporate-influenceregulatory-captureloopholes
Congress passes the Alien Registration Act, commonly known as the Smith Act after its sponsor Representative Howard W. Smith of Virginia, on June 28, 1940. The law makes it a criminal offense to “knowingly or willfully advocate, abet, advise, or teach the duty, necessity, desirability, or …
Howard W. SmithCongressDepartment of JusticeFranklin D. Rooseveltcivil-libertiesfirst-amendmentpolitical-persecutionred-scarelabor-suppression+1 more
President Franklin D. Roosevelt signs the Neutrality Act of 1939 on November 4, repealing the arms embargo provisions of earlier Neutrality Acts and allowing arms sales to belligerent nations on a “cash-and-carry” basis, effectively ending the policy designed to prevent American business …
Franklin D. RooseveltU.S. Congressarms manufacturersisolationistsBritain+1 morewar-profiteeringneutrality-actsworld-war-iicorporate-profitsmilitary-industrial-complex
President Franklin D. Roosevelt signs the Hatch Act on August 2, 1939, after Senator Carl Hatch (D-NM) introduces legislation prohibiting federal civil service employees from engaging in partisan political activities, following widespread allegations that local Democratic politicians used Works …
Carl HatchFranklin D. RooseveltU.S. CongressWorks Progress Administrationfederal employeespolitical-activitynew-dealcivil-serviceconservative-sabotagewpa
President Franklin D. Roosevelt signs the Fair Labor Standards Act (FLSA) on June 25, 1938, establishing a federal minimum wage of 25 cents per hour, a maximum 44-hour workweek, and banning oppressive child labor—but only after more than a year of fierce congressional opposition from business …
Franklin D. RooseveltFrances PerkinsHugo BlackU.S. CongressSouthern Democrats+1 morelabor-rightsminimum-wagechild-labornew-dealcorporate-resistance
Congress authorizes the Temporary National Economic Committee (TNEC) on June 16, 1938, launching the most comprehensive investigation of monopoly power and economic concentration in American history. Chaired by Senator Joseph O’Mahoney of Wyoming, the committee conducts three years of hearings …
Franklin D. RooseveltJoseph O'MahoneyThurman ArnoldU.S. Congressmajor corporationsantitrustmonopolycorporate-concentrationnew-dealcongressional-investigation
The House of Representatives establishes the House Committee on Un-American Activities (HUAC), commonly known as the Dies Committee after its chairman Representative Martin Dies Jr. (D-TX), on May 26, 1938, as a special investigating committee to probe alleged disloyalty and subversive activities by …
Martin Dies Jr.John GarnerHouse of RepresentativesFranklin D. Rooseveltanti-communismnew-dealcongressional-investigationspolitical-weaponizationred-scare
On April 29, 1938, President Franklin D. Roosevelt sends a special message to Congress warning that concentrated corporate power poses an existential threat to American democracy, using language that explicitly links economic monopoly with the rise of fascism. Roosevelt declares that “the …
Franklin D. RooseveltU.S. Congressconcentrated corporate interestscorporate-powerfascismantitrustnew-dealdemocracy+1 more
On July 22, 1937, the U.S. Senate votes 70-22 to defeat President Franklin Roosevelt’s Judicial Procedures Reform Bill, rejecting his proposal to expand the Supreme Court by up to six additional justices and handing FDR his greatest legislative defeat. Three-quarters of senators voting to kill …
U.S. SenateFranklin D. RooseveltSenate Judiciary CommitteeJoseph RobinsonJohn Nance Garner+1 morejudicial-independencenew-dealsupreme-courtseparation-of-powerscongressional-opposition+1 more
The “Little Steel” strike begins on May 26, 1937, when 75,000 steelworkers walk off their jobs at Republic Steel, Bethlehem Steel, Youngstown Sheet and Tube, and Inland Steel after these companies refuse to sign contracts with the Steel Workers Organizing Committee (SWOC) despite the …
Republic SteelTom GirdlerBethlehem SteelYoungstown Sheet and TubeInland Steel+3 morelabor-rightscorporate-resistancewagner-actstrikeunion-organizing+1 more
The American economy enters a severe recession in May 1937, lasting 13 months through June 1938, after President Franklin D. Roosevelt accepts the advice of his conservative Treasury Secretary Henry Morgenthau Jr. to slash government spending by 17% over two years in an effort to balance the federal …
Franklin D. RooseveltHenry Morgenthau Jr.Federal ReserveU.S. Treasury DepartmentHarry Hopkins+1 moreeconomic-policynew-dealausterityrecessionconservative-sabotage
On April 12, 1937, the Supreme Court rules 5-4 in NLRB v. Jones & Laughlin Steel Corporation to uphold the constitutionality of the National Labor Relations Act (Wagner Act), reversing years of judicial hostility to federal labor regulation and fundamentally expanding Congress’s commerce …
Supreme Court of the United StatesCharles Evans HughesOwen RobertsFranklin D. RooseveltJones & Laughlin Steel Corporation+1 moresupreme-courtlabor-rightswagner-actconstitutional-lawnew-deal+1 more
On March 29, 1937, the Supreme Court rules 5-4 in West Coast Hotel Co. v. Parrish to uphold Washington State’s minimum wage law for women, explicitly overruling its 1923 Adkins v. Children’s Hospital precedent and marking the beginning of the “Constitutional Revolution of …
Supreme Court of the United StatesOwen RobertsCharles Evans HughesFranklin D. RooseveltElsie Parrishsupreme-courtminimum-wageconstitutional-lawnew-dealswitch-in-time+1 more
On February 5, 1937, President Franklin Roosevelt announces the Judicial Procedures Reform Bill, requesting congressional authority to appoint up to six additional Supreme Court justices—one for each sitting justice over age 70—potentially expanding the Court from nine to fifteen members. Roosevelt …
Franklin D. RooseveltSupreme Court of the United StatesJohn Nance GarnerHatton SumnersSenate Judiciary Committee+1 morejudicial-capturenew-dealsupreme-courtseparation-of-powersconstitutional-crisis+1 more
On January 25, 1936, former New York Governor and 1928 Democratic presidential candidate Al Smith delivers the keynote address at the American Liberty League dinner at Washington’s Mayflower Hotel, launching a scathing attack on President Roosevelt that accuses the New Deal of fomenting class …
Al SmithAmerican Liberty LeagueFranklin D. RooseveltJouett ShouseDu Pont familycorporate-resistancenew-dealpropagandared-baitingpolitical-realignment+1 more
On January 6, 1936, the Supreme Court decides United States v. Butler in a 6-3 ruling that invalidates the Agricultural Adjustment Act (AAA), striking a devastating blow to Roosevelt’s New Deal farm recovery program just eight months after the Schechter Poultry “Black Monday” …
Supreme Court of the United StatesOwen J. RobertsHarlan Fiske StoneWilliam M. ButlerHoosac Mills Corporation+2 morejudicial-capturenew-dealcorporate-resistancesupreme-courtagricultural-policy+1 more
Louisiana Senator Huey P. Long dies on September 10, 1935, two days after being shot by Dr. Carl Weiss in the Louisiana State Capitol, ending the most significant populist challenge to both concentrated wealth and New Deal moderation. Long’s “Share Our Wealth” movement, which he …
Huey LongCarl WeissFranklin D. RooseveltShare Our Wealth SocietyLouisiana political machinewealth-redistributionpopulismpolitical-assassinationnew-dealeconomic-inequality
President Franklin D. Roosevelt signs the Revenue Act of 1935 (49 Stat. 1014) into law on August 30, 1935, over strong opposition from business, the wealthy, and conservatives from both parties, introducing the “Wealth Tax” as the first major New Deal effort to reform federal taxation …
Franklin D. RooseveltJohn D. RockefellerBusiness CommunityDemocratic Partytaxationnew-dealwealth-redistributionprogressive-taxationregulatory-victory+1 more
President Franklin D. Roosevelt signs the Public Utility Holding Company Act (PUHCA) into law on August 26, 1935, based on the 1928-1935 Federal Trade Commission investigation of the electric industry that exposes widespread abuses by large multistate utility corporations. The Act addresses …
Franklin D. RooseveltFederal Trade CommissionElectric Utility IndustrySecurities and Exchange Commission (SEC)utility-regulationnew-dealanti-monopolyregulatory-victorycorporate-restructuring+1 more
President Roosevelt signs the Banking Act of 1935 on August 23, 1935, fundamentally restructuring the Federal Reserve System to centralize monetary policy authority in a reformed Board of Governors in Washington rather than the twelve regional Federal Reserve Banks, which had been dominated by …
Franklin D. RooseveltMarriner EcclesCarter GlassU.S. CongressFederal Reserve Board+1 morefinancial-regulationnew-dealfederal-reservebanking-reformmonetary-policy+1 more
President Franklin D. Roosevelt signs the Social Security Act on August 14, 1935, establishing the first comprehensive federal system for old-age pensions, unemployment insurance, and aid to dependent children and the disabled, creating the foundation of the American social safety net. Labor …
Franklin D. RooseveltFrances PerkinsU.S. CongressAmerican Liberty LeagueNational Association of Manufacturers+1 morelabor-rightsnew-dealsocial-insurancecorporate-resistancedemocratic-reform
President Franklin D. Roosevelt signs the National Labor Relations Act, known as the Wagner Act after sponsor Senator Robert Wagner (D-NY), establishing federal legal protection for workers’ rights to organize unions, engage in collective bargaining, and strike without employer retaliation. …
Franklin D. RooseveltRobert WagnerU.S. CongressNational Labor Relations BoardAmerican workerslabor-rightswagner-actnlranew-dealcollective-bargaining+1 more
On May 27, 1935—a day Roosevelt administration officials dub “Black Monday”—the Supreme Court delivers three unanimous decisions against the New Deal, with the most devastating being Schechter Poultry Corp. v. United States, which invalidates the National Industrial Recovery Act (NIRA), …
Supreme Court of the United StatesCharles Evans HughesBenjamin CardozoHarlan Fiske StoneFranklin D. Roosevelt+1 morejudicial-capturenew-dealcorporate-resistancesupreme-courtconstitutional-law+1 more
President Roosevelt creates the Rural Electrification Administration (REA) by executive order on May 11, 1935, establishing a federal program to extend electricity to rural areas that private utility companies had refused to serve. At the time of REA’s creation, only 10 percent of American …
Franklin D. RooseveltMorris Cookeprivate utility companiesfarmer cooperativesRural Electrification Administrationnew-dealpublic-powerrural-developmentutility-regulationcooperatives
On November 20, 1934, the U.S. House of Representatives Special Committee on Un-American Activities (McCormack-Dickstein Committee) begins secret testimony from retired Marine Corps Major General Smedley Butler, who alleges that wealthy Wall Street financiers plotted to overthrow President Franklin …
Smedley ButlerMcCormack-Dickstein CommitteeGerald MacGuireJ.P. Morgan interestsDu Pont family+2 morecorporate-resistancenew-dealinstitutional-capturecoup-attemptmilitary-industrial-complex+1 more
President Roosevelt appoints Joseph P. Kennedy, a wealthy Wall Street speculator known for stock manipulation and insider trading, as the first chairman of the newly-created Securities and Exchange Commission on July 2, 1934. The appointment shocks New Deal reformers and delights Wall Street, …
Franklin D. RooseveltJoseph P. KennedySecurities and Exchange Commission (SEC)Wall Streetregulatory-capturenew-dealsecfinancial-regulationrevolving-door
President Franklin D. Roosevelt signs the Communications Act of 1934 (Chapter 5 of Title 47 U.S. Code), replacing the Federal Radio Commission with the Federal Communications Commission (FCC) and consolidating federal regulation of all interstate and foreign communications including radio, …
Franklin D. RooseveltU.S. CongressFederal Communications Commission (FCC)Federal Radio Commissionmedia-regulationfccpublic-interest-standardnew-dealcommunications-policy+1 more
President Franklin D. Roosevelt signs the Securities Exchange Act of 1934 into law on June 6, 1934, establishing the Securities and Exchange Commission (SEC) and comprehensive federal regulation of secondary securities trading (stocks, bonds, and debentures). FDR’s compromise approach attempts …
Franklin D. RooseveltJoseph P. KennedyFerdinand PecoraRichard WhitneyNew York Stock Exchange+3 morefinancial-regulationnew-dealsec-creationsecurities-lawregulatory-victory+1 more
President Roosevelt signs the Gold Reserve Act on January 30, 1934, nationalizing all gold holdings in the United States, transferring ownership of Federal Reserve gold to the U.S. Treasury, and authorizing the President to set the gold value of the dollar between 50 and 60 percent of its previous …
Franklin D. RooseveltU.S. CongressFederal ReserveWall Streetbanking industry+1 morenew-dealmonetary-policygold-standardfinancial-regulationcorporate-resistance
President Roosevelt signs the National Industrial Recovery Act (NIRA) on June 16, 1933, creating the National Recovery Administration (NRA) to oversee the development of industry-wide “codes of fair competition” establishing minimum wages, maximum hours, collective bargaining rights, and …
Franklin D. RooseveltHugh JohnsonU.S. CongressNational Recovery AdministrationU.S. Chamber of Commerce+2 morenew-dealcorporate-captureregulatory-capturelabor-rightsindustrial-policy
President Roosevelt signs the Home Owners’ Loan Act, creating the Home Owners’ Loan Corporation (HOLC) as an emergency response to the mortgage crisis of the Great Depression. Between 1933 and 1936, HOLC refinances approximately one million mortgages (one-tenth of all urban homes with …
Home Owners' Loan CorporationFranklin D. RooseveltFederal Home Loan Bank BoardReal estate appraisersinstitutional-captureracial-oppressionhousing-policyeconomic-strategyhousing
President Franklin D. Roosevelt signs the Securities Act of 1933 into law on May 27, 1933, establishing the first major federal regulation of securities markets and requiring that investors receive financial and material information about securities offered for public sale. Often called the …
Franklin D. RooseveltHuston ThompsonFederal Trade CommissionWall StreetSecurities Industryfinancial-regulationnew-dealsecurities-lawinvestor-protectionregulatory-victory+1 more
President Roosevelt signs the Tennessee Valley Authority Act on May 18, 1933, creating a federally-owned corporation to provide electricity, flood control, navigation improvements, and economic development across seven Southern states in the Tennessee River watershed. The TVA represents the most …
Franklin D. RooseveltGeorge NorrisU.S. CongressTennessee Valley Authorityprivate utility companies+2 morenew-dealpublic-powerutility-regulationcorporate-resistanceregional-development
President Roosevelt signs the Emergency Conservation Work Act on March 31, 1933, creating the Civilian Conservation Corps (CCC) as a public work relief program providing employment to young men aged 18-25 from unemployed families. The CCC becomes one of the most popular New Deal programs, eventually …
Franklin D. RooseveltU.S. CongressRobert FechnerU.S. ArmyDepartment of Labornew-dealemploymentconservationyouth-programspublic-works
On March 9, 1933, just five days after Franklin Roosevelt’s inauguration and three days after his declaration of a national bank holiday, Congress passes the Emergency Banking Act in a mere eight hours—many members voting without even reading the legislation. The act grants the President …
Franklin D. RooseveltU.S. CongressFederal ReserveWilliam Woodinbanking industrynew-dealbanking-crisisfinancial-regulationemergency-powers
On March 6, 1933, two days after his inauguration, President Franklin D. Roosevelt invokes emergency powers to declare a nationwide “bank holiday,” closing all banks in the United States and suspending all banking transactions. The unprecedented action aims to stop the complete collapse …
Franklin D. Rooseveltbanking industryFederal ReserveAmerican depositorsbanking-crisisnew-dealfinancial-regulationemergency-powersgreat-depression