Emergency Banking Act
The Emergency Banking Act, officially titled the Emergency Banking Relief Act, also sometimes known as the War Powers Act of 1933, was a legislative response to the Great Depression and was signed by President Franklin Delano Roosevelt on March 9th, 1933. The act amended the World War I era law, the Trading with the Enemy Act of 1917.
The Act set the tone for the New Deal with FDR asserting that he could use war powers to deal with the crisis despite the lack of an actual war.
The Act was superseded by the Banking Act of 1933,(Known as the Glass-Steagall Act) enacted on June 16, 1933.
- ↑ 1.0 1.1 Presidential Emergency Powers: The So-Called "War Powers Act of 1933"
- ↑ Liberals and the People, National Review