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
IBM Chairman Thomas J. Watson receives the Merit Cross of the German Eagle with Star from Adolf Hitler in June 1937 while serving as President of the International Chamber of Commerce, becoming the first American honored by Hitler with this special award created to “honor foreign nationals who …
Thomas J. WatsonAdolf HitlerIBMDeutsche Hollerith Maschinen GmbH (Dehomag)Nazi Germanycorporate-collaborationnazismtechnologyholocaustibm
On Memorial Day, May 30, 1937, Chicago police open fire on peaceful union demonstrators outside Republic Steel Corporation’s South Chicago plant, killing ten people and wounding more than ninety in what becomes known as the Memorial Day Massacre. The police use tear gas, firearms, and clubs …
On May 26, 1937, at approximately 2:00 p.m., Ford Motor Company orchestrates a brutal assault on United Auto Workers organizers conducting a permitted leaflet distribution campaign at the Miller Road pedestrian overpass above Gate 4 of the massive River Rouge Plant complex in Dearborn, Michigan. UAW …
Ford Motor CompanyHarry BennettFord Service DepartmentUnited Auto WorkersWalter Reuther+3 morelabor-rightscorporate-violenceuawfordunion-busting+2 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 11, 1937, General Motors—the world’s largest industrial corporation—capitulates to the UAW after 44 days of sit-down strikes, signing a one-page agreement that recognizes the United Auto Workers as exclusive bargaining representative for union members for six months and …
United Auto WorkersGeneral MotorsAlfred Sloan Jr.William KnudsenFisher Body workers+2 morelabor-rightsstrikessit-down-strikesuawgeneral-motors+2 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 11, 1937, Flint police and General Motors security forces launch a violent assault on UAW strikers occupying Fisher Body Plant Number 2, attacking with tear gas canisters and live ammunition in an attempt to break the 12-day sit-down strike. The “Battle of the Running …
United Auto WorkersFlint Police DepartmentGeneral Motors security forcesFisher Body Plant 2 strikersBob Travis+2 morelabor-rightspolice-violencestrikessit-down-strikesuaw+2 more
At 8:00 p.m. on December 30, 1936, UAW autoworkers occupy General Motors Fisher Body Plant Number One in Flint, Michigan, launching one of the most significant labor actions in American history—a 44-day sit-down strike that transforms the fledgling United Auto Workers from a collection of isolated …
United Auto WorkersGeneral MotorsFisher Body workersBob TravisWalter Reuther+4 morelabor-rightsstrikessit-down-strikesuawgeneral-motors+2 more
The La Follette Civil Liberties Committee exposes and names the “Mohawk Valley Formula” in 1936-1937, documenting a systematic corporate strategy for breaking strikes and defeating union organizing campaigns that James Rand Jr., president of Remington Rand, developed during the 1936 …
Remington RandJames Rand Jr.National Association of ManufacturersLa Follette Committeecorporate managementunion-bustingcorporate-resistancelabor-suppressionpropagandawagner-act+1 more
Congress passed the Robinson-Patman Act (RPA), co-sponsored by Senator Joseph T. Robinson (D-AR) and Representative Wright Patman (D-TX), prohibiting anticompetitive price discrimination by producers. The law responded to the growing power of chain stores like the Great Atlantic & Pacific Tea …
U.S. CongressSenator Joseph T. RobinsonRepresentative Wright PatmanFederal Trade Commissionantitrustregulatory-captureprice-discriminationcorporate-powersmall-business
The Senate Subcommittee on Education and Labor, chaired by Senator Robert M. La Follette Jr. of Wisconsin, begins hearings on June 6, 1936, launching a four-year investigation that systematically exposes the violent and illegal tactics American corporations use to suppress union organizing. The La …
Robert La Follette Jr.U.S. SenatePinkerton Detective AgencyBurns Detective AgencyRepublic Steel+3 morelabor-rightscorporate-surveillanceunion-bustingcongressional-investigationprivate-security
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
The La Follette Civil Liberties Committee subpoenas records from major private detective agencies in early 1936, exposing the vast scale of corporate labor espionage in American industry. The investigation reveals that the Pinkerton National Detective Agency, Burns International Detective Agency, …
La Follette CommitteePinkerton Detective AgencyBurns Detective AgencyCorporations Service BureauRailway Audit and Inspection Company+2 morelabor-surveillancecorporate-espionageunion-infiltrationprivate-securitylabor-rights
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
On November 9, 1935, John L. Lewis of the United Mine Workers met with leaders of eight unions—including Sidney Hillman of the Amalgamated Clothing Workers and David Dubinsky of the International Ladies Garment Workers Union—to formally establish the Committee for Industrial Organization within the …
John L. LewisUnited Mine Workers of AmericaSidney HillmanDavid DubinskyPhilip Murraylabor-organizingdemocratic-resistanceworker-power
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
In 1935, the National Association of Manufacturers (NAM) under president Robert Lund launches what Business Week headlines as “The NAM Declares War” (December 14, 1935)—an unprecedented multi-million dollar propaganda campaign to discredit Roosevelt’s New Deal and promote …
National Association of ManufacturersRobert LundDu PontGeneral MotorsAT&T+3 morecorporate-resistancepropagandanew-dealinstitutional-capturemedia-manipulation+1 more
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
On August 22, 1934, the American Liberty League is announced in Washington, D.C., as a purportedly bipartisan organization to defend the U.S. Constitution against “radical” New Deal policies, with Jouett Shouse appointed as president. The League’s formation represents the first …
Irénée du PontJohn Jacob RaskobJouett ShouseAl SmithJohn W. Davis+4 morecorporate-resistancenew-dealpropagandainstitutional-capturethink-tanks+2 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
The National Housing Act creates the Federal Housing Administration, which immediately implements systematic racial discrimination through mortgage underwriting guidelines. From its first operations in 1934, FHA staff conclude that no loan could be economically sound if the property was located in a …
Federal Housing AdministrationFederal Home Loan Bank BoardU.S. Chamber of Commerceinstitutional-captureracial-oppressionhousing-policysystematic-corruption
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
The Senate Banking and Currency Committee issued its 400-page final report documenting the systematic corruption, fraud, and market manipulation that caused the 1929 Wall Street crash and subsequent Great Depression. The investigation, which began on March 4, 1932 with Senate Resolution 84 and …
Ferdinand PecoraU.S. Senate Committee on Banking and CurrencySenator Duncan Fletcherfinancial-regulationcorporate-accountabilitycongressional-oversightinstitutional-integrity
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
The U.S. Senate Special Committee on Investigation of the Munitions Industry, chaired by Senator Gerald Nye (R-ND), begins operations on April 12, 1934, to investigate the financial and banking interests underlying American involvement in World War I and the enormous profits reaped by industrial and …
Gerald NyeU.S. SenateJ.P. Morgan Jr.Pierre du Pontmunitions manufacturers+1 morewar-profiteeringcorporate-corruptionmilitary-industrial-complexinvestigationsworld-war-i
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
J.P. Morgan Jr., head of the most powerful banking house in America, testified before the Pecora Commission in hearings that riveted the nation. The New York Times headline on May 24, 1933 blared: “Morgan Paid No Income Tax for 1931 or 1932.” Morgan admitted under oath that he and his …
J.P. Morgan Jr.J.P. Morgan and CompanyFerdinand PecoraU.S. Senate Committee on Banking and CurrencyCalvin Coolidge+1 morefinancial-regulationinsider-tradingcorporate-accountabilitytax-evasionpolitical-corruption
The Pecora Commission revealed that Albert Wiggin, chairman of Chase National Bank, had secretly profited from his bank’s collapse during the 1929 crash. Beginning in September 1929, even as Wiggin publicly committed Chase’s funds to investment pools intended to stabilize the falling …
Albert H. WigginChase National BankFerdinand PecoraU.S. Senate Committee on Banking and Currencyfinancial-regulationinsider-tradingcorporate-accountabilitytax-evasionbanking-fraud
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
Charles E. Mitchell, chairman of National City Bank (predecessor to Citigroup), began testimony before the Senate Banking Committee’s Pecora investigation after receiving a subpoena on January 24, 1933. Under Ferdinand Pecora’s meticulous questioning, Mitchell confessed that his 1929 …
Charles E. MitchellNational City BankNational City CompanyFerdinand PecoraU.S. Senate Committee on Banking and Currencyfinancial-regulationcorporate-accountabilitytax-evasionbanking-fraudcongressional-oversight
Republican Senator Peter Norbeck appointed Ferdinand Pecora, a former New York deputy district attorney, as the fourth chief counsel to the Senate Banking and Currency Committee’s investigation into the Wall Street crash. Pecora, son of Italian immigrants who grew up in Hell’s Kitchen, …
Ferdinand PecoraSenator Peter NorbeckSenator Duncan FletcherU.S. Senate Committee on Banking and Currencyfinancial-regulationcorporate-accountabilitycongressional-oversightinstitutional-integrity
On July 28, 1932, U.S. Army troops under the command of General Douglas MacArthur violently disperse the Bonus Army—43,000 demonstrators including 17,000 World War I veterans, their families, and affiliated groups—who had marched on Washington, D.C. to demand early payment of service bonus …
Douglas MacArthurHerbert HooverDwight D. EisenhowerWalter WatersBonus Army veterans+1 moremilitary-forceveteransgreat-depressioncivil-libertiesstate-violence
The U.S. Senate passed Senate Resolution 84, authorizing the Committee on Banking and Currency to investigate “practices with respect to the buying and selling and the borrowing and lending” of stocks and securities following the 1929 Wall Street crash. The investigation, chaired …
U.S. Senate Committee on Banking and CurrencySenator Peter NorbeckSenator Duncan Fletcherfinancial-regulationcorporate-accountabilitycongressional-oversightgreat-depression