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 draft legislation was finished on 14th May. It went before Congress and the National Industrial Recovery Act (NIRA) was passed by the Senate on 13th June by a vote of 46 to 37. The National Recovery Administration (NRA) was set up to enforce the NIRA.President Franklin D. Roosevelt named Hugh S. Johnson to head it.Roosevelt found Johnson's energy and enthusiasm irresistible and was impressed with his knowledge of industry and business.he National Recovery Administration (NRA) was set up to enforce the NIRA. President Franklin D. Roosevelt named Hugh S. Johnson to head it. Roosevelt found Johnson's energy and enthusiasm irresistible and was impressed with his knowledge of industry and business.