LVC 501XX 1933 N.R.A.*
(National Recovery Administration)
Size W38 L36
Actual W37 L34
Selvage at inner seam and coin pocket
No. 555 stamped at waist back button
Cinch-back, no red tab big E
Good used condition
Made in U.S.A.
The National Recovery Administration (NRA), created in the United States of America under the 1933 National Industrial Recovery Act, was one of the New Deal programs of President Franklin D. Roosevelt and his administration.
The NRA allowed industries to create "codes of fair competition," which were intended to reduce "destructive competition" and to help workers by setting minimum wages and maximum weekly hours. It also allowed industry heads to collectively set minimum prices.
In 1935, the United States Supreme Court unanimously declared the NRA as unconstitutional in the court case of Schechter Poultry Corp. v. US, on the grounds that it violated the Constitution's separation of powers. The NRA quickly stopped operations, but many of its labor provisions reappeared in the Wagner Act of 1935.
The NRA, symbolized by the blue eagle, was popular with workers. Businesses that supported the NRA put the symbol in their shop windows and on their packages. Though membership to the NRA was voluntary, Businesses that did not display the eagle were very often boycotted--making it seem to many mandatory for survival.
(excerpt from Wikipedia)