On this day
Revisit the news, notable people, and historical moments connected to this date.
Portrait 1080 × 1920 PNG · created on your device
WASHINGTON, Friday, June 16. -- The roll-call in the Senate on the adoption of the majority conference report on the Independent Offices Bill, including the Roosevelt compromise on veterans' allowances, was as follows:
Defaults on war debt payment
named pres; statement
Special com considers tax program; he praises proposal to sell bonds to pub at lower interest rate
Machado Govt and ABC rebel group accept Welles as mediator
1933The National Industrial Recovery Act is passed in the United States, allowing businesses to avoid antitrust prosecution if they establish voluntary wage, price, and working condition regulations on an industry-wide basis.[†]
The National Industrial Recovery Act of 1933 (NIRA) was a US labor law and consumer law passed by the 73rd US Congress to authorize the president to regulate industry for fair wages and prices that would stimulate economic recovery. It also established a national public works program known as the Public Works Administration (PWA). The National Recovery Administration (NRA) portion was widely hailed in 1933, but by 1934 business opinion of the act had soured.