Definition of corporation. 1a : a group of merchants or traders united in a trade guild (see guild 1)b : the municipal authorities of a town or city. 2 : a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession.
In his June 16, 1933 Statement on the National Industrial Recovery Act, President Roosevelt described the spirit of the NRA: On this idea, the first part of the NIRA proposes to our industry a great spontaneous cooperation to put millions of men back in their regular jobs this summer..
The National Recovery Administration (NRA) was a key part of the First New Deal in 1933-35, until it was abolished by the Supreme Court. The goal was to eliminate cut-throat competition by bringing industry, labor and government together to create codes of fair practices and set prices.he National Recovery Administration, or NRA, was a major New Deal agency that lasted 1933-35, designed to speed recovery from the Great Depression. Headed by General Hugh Johnson, the NRA was created by the National Industrial Recovery Act, along with the PWA.