The final day of the "Hundred Days" session. Congress passes the National Industrial Recovery Act (NIRA) establishing the Public Works Administration (PWA) and the National Recovery Administration (NRA).
The PWA is authorized to supervise the construction of roads, public buildings and other projects while providing employment. Secretary of the Interior Harold Ickes is tapped to head the PWA.
The NRA's goal is to stimulate competition and benefit producers and consumers by implementing various codes to establish fair trade. Compliance was to be voluntary; those who cooperate received the blue eagle "seal of approval." NRA is to be directed by General Hugh Johnson. It will be declared unconstitutional by the Supreme Court in May 1935.
Congress also passes the Farm Credit Act and the Banking Act of 1933 (which establishes FDIC).