<em>The act that provided monthly pensions for retired people was the Social Security Act.</em>
One of the most important parts of the New deal program instituted by President Franklin D. Roosevelt was the Social Security Act. He signed it into law in 1935. It was a federal safety provision for the elderly in America. The economic conditions of the time were very hard due to the consequences of the US stock market crash of October 1929 that generated the Great Depression. That is why Roosevelt implemented many New Deal programs. One of them, the Social Security Act paid pensions to retirees older than 65 years, based on payroll tax contribution.
<span>On Labor Day, Bryan delivered
a widely renowned dialogue in which he recommended that one of the tenacities
of government was to lay “rings in the noses of hogs” which shows a allusion to
regulation of trusts, though Bryan suggested that such 'hogs' should still be permitted
to get 'fat.' Both Democrats and Republicans retorted with cartoons classifying
other 'hogs' to be well-ordered.</span>
