21 Mar.

The Railroad Control Act provides for the operation of railroads on a regional basis and the determination of compensation due to railroads while the lines are under federal control.

5 Apr.

The War Finance Corporation is established to help banks finance the operation of war industries.

8 Apr.

The National War Labor Board is established to settle labor disputes and avoid interruption of war production.

10 Apr.

Congress passes the Webb-Pomerene Act. The act allows exporters to combine in export trade associations and not be prosecuted under antitrust laws.

The Post Office Department issues the first airmail stamps in denominations of six cents, sixteen cents, and twenty-four cents.