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| | Roosevelt Calls Recovery Act Most Sweeping Law in Nation's History |
 | | In signing the National Industrial Recovery Act the President declared that it was "the most important and far-reaching legislation ever enacted by the American Congress," and said that it "represents a supreme effort to stabilize for all time the many factors which make for the prosperity of the nation and the preservation of American standards." |
 | | The most far-reaching of the administration's legislation, the Recovery Act gives the President, through administrators, wide power to promote the self-regulation of industry under Federal supervision as a means of curtailing overproduction, improving wages, shortening hours of labor and, thereby, increasing prices and employment. |
 | | The Glass-Steagall Act is directed toward a unified banking system, provides a limited deposit guarantee, requires divorcement of security affiliates from banks under government supervision, compels private bankers to give up either the deposit or security business, and requires stricter regulation of national banks. |
| partners.nytimes.com /library/financial/061733glass-steagall.html (1494 words) |
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