Emergency Relief and Construction Act explained

Shorttitle:Emergency Relief and Construction Act
Longtitle:An Act to relieve destitution, to broaden the lending powers of the Reconstruction Finance Corporation, and to create employment by providing for and expediting a public-works program.
Nickname:Emergency Relief and Construction Act of 1932
Enacted By:72nd
Effective Date:July 21, 1932
Public Law Url:http://legisworks.org/congress/72/publaw-302.pdf
Cite Public Law:72-302
Introducedin:House
Introducedby:Edward B. Almon (D-AL)
Introduceddate:February 25, 1932
Committees:House Rules
Passedbody1:House
Passeddate1:February 27, 1932
Passedvote1:205-109
Passedbody2:Senate
Passeddate2:July 13, 1932
Passedvote2:60-10
Conferencedate:July 15, 1932
Passedbody3:House
Passeddate3:July 15, 1932
Passedvote3:286-48
Passedbody4:Senate
Passeddate4:July 16, 1932
Passedvote4:Agreed
Signedpresident:Herbert Hoover
Signeddate:July 21, 1932

The Emergency Relief and Construction Act (ch. 520,, enacted July 21, 1932), was the United States's first major-relief legislation, enabled under Herbert Hoover and later adopted and expanded by Franklin D. Roosevelt as part of his New Deal.[1]

The Emergency Relief and Construction Act was an amendment[2] to the Reconstruction Finance Corporation Act which was signed on January 22, 1932. It created the Reconstruction Finance Corporation which released funds for public works projects across the country. The Brooklyn Navy Yard received an allotment of $880,000, marked for specific projects such as $215,000 for repairs and the maintenance of roofs, waterfront quays and docks, and Yard's railroad system. The biggest chunk, $855,000, was designated for a major overhaul of the power plant, to put in a new turbo generator, piping, boilers, and other engines. The Act was designed to be a temporary means of providing employment and all the positions created in the navy yard to service the projects were therefore classified as temporary. In another preview of New Deal spending, the government even authorized the Act funds to start building a number of destroyers in the navy yards.

According to the Department of Housing and Urban Development, "This was the government’s first major involvement in the housing field. The RFC was authorized to make loans to private corporations providing housing for low-income families. Also in 1932, the Federal Home Loan Bank Board was established to make advances on the security of home mortgages and establish a Home Loan Bank System."[3]

External links

Notes and References

  1. Web site: Herbert Hoover: "Statement About Signing the Emergency Relief and Construction Act of 1932.," July 17, 1932 . Peters, Gerhard . Woolley, John T . University of California - Santa Barbara . The American Presidency Project . February 11, 2018 . February 12, 2018 . https://web.archive.org/web/20180212083457/http://www.presidency.ucsb.edu/ws/?pid=23170 . dead .
  2. Web site: Banking Acts of 1932 - A detailed essay on an important event in the history of the Federal Reserve. . www.federalreservehistory.org . dead . https://web.archive.org/web/20131211081145/http://www.federalreservehistory.org/Events/DetailView/12 . 2013-12-11.
  3. Web site: HUD Historical Background . July 15, 2012 . dead . https://web.archive.org/web/20120823084806/http://www.hud.gov/offices/adm/about/admguide/history.cfm . August 23, 2012 .