What was the significance of Franklin Roosevelt’s First Hundred Days? Give two examples of legislation passed during that time?
The first 100 days of Franklin Roosevelt’s presidency were very important. Many major laws were passed during that time to deal with the Great Depression. After being inaugurated, Roosevelt went straight to White House to begin working on legislation.
One law that was passed was the Emergency Banking Relief Act. This law closed all banks for four days. Federal inspectors looked at the financial records of banks. Only the banks that were strong enough financially were allowed to reopen.
Another banking law that was passed was the Glass-Steagall Act. This law insured savings deposits by creating the Federal Deposit Insurance Corporation. It also prevented commercial banks from investing in the stock market. This law made banking safer.
One law that didn’t involve banking was the Securities Act. The law created the Security and Exchange Commission. The Security and Exchange Commission would monitor the stock market. It also required companies to provide truthful information to investors.
Other laws were passed that created jobs, helped farmers and homeowners, and encouraged workers and businesses to work together.
All presidents since Roosevelt have now been judged passed on their accomplishments during their first 100 days in office. Roosevelt’s work became a benchmark that is used to measure what each president has done at the beginning of his term.