Preview

The Effect of President Roosevelt's New Deal on the Great Depression

Satisfactory Essays
Open Document
Open Document
479 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Effect of President Roosevelt's New Deal on the Great Depression
Ariel Van Netta AMH 2020 How Successful was Roosevelt’s New Deal in Solving the Economic and Social Problems of the Great Depression? Franklin Delano Roosevelt was elected the presidential candidate for the Democratic Party in the summer of 1932 as the nation was witnessing the worst economic depression in history. As he accepted his nomination, Roosevelt addressed the American people and their plight in the depression, telling them that, “I pledge you, I pledge myself, to a new deal for the American people.” After winning the presidency later that year, Roosevelt’s promise to the American people would manifest itself in a slew of laws and government programs. Roosevelt’s New Deal has been credited with saving the American economy, although many believe it was actually World War II that ended the Great Depression. After the stock market crash in 1929, the United Sates was entrenched in the worst economic depression in American history. In the 1920’s, stocks were the hottest commodity in the marketplace. Banks began loaning money to stock buyers, even letting them use the stocks themselves as collateral. Easy credit, inflated currency, and margin loans had given a false representation of the strength of the market and eventually it collapsed. (Hamby) Consumers who had borrowed money for stocks were now defaulting on their loans and banks began to flounder. As thousands of banks failed so did businesses. People were laid off, many filed bankruptcy and soon the country fell into economic despair. When Roosevelt began his presidency in the spring of 1933, nearly all banks in the country were closed by their governors, and Roosevelt kept them all closed until he could pass new legislation. On March 9, Roosevelt sent to Congress the Emergency Banking Act. The act was passed and signed into law the same day. It provided for a system of reopening sound banks under Treasury supervision, with federal loans available if needed. Within three days, three-quarters of the


Bibliography:
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Gibbons Vs Ogden Swot Analysis
    • 728 Words
    • 3 Pages

    Gibbons Vs Ogden Swot Analysis

    This two major event took the economic power from the state government to the federal government. The economy regulation became a federal because the federal government is stronger than the state government and it is more equipped to deal with the vast growing economy. Globalization took the fast-growing economy from local to global, which made America the global economics power. Although these events played out over many decades, they reached their high points during the presidency of Franklin Roosevelt (1933–1945). The Great Depression, brought about by the crash of the stock market in 1929, was one of the most severe economic downturns in American history. Many businesses failed, roughly one-third of the population was out of work, and poverty was widespread. In response, Roosevelt implemented the New Deal, a series of programs and policies that attempted to revive the economy and prevent further depression. The New Deal included increased regulation of banking and commerce and programs to alleviate poverty, including the formation of the Works Progress Administration and a social security plan. In order to implement these programs, the national government had to grow dramatically, which consequently took power away from the…

    • 728 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    New Deal DBQ
    • 939 Words
    • 4 Pages

    New Deal DBQ

    The 1929 stock-market crash and the ensuing Great Depression exposed major weaknesses in the U.S. and world economies. These ranged from chronically low farm prices and uneven income distribution to trade barriers, a surplus of consumer goods, and a constricted money supply. As the crisis deepened, President Hoover struggled to respond. In 1932, with Hoover's reputation in tatters, FDR and his promised “New Deal" brought a surge of hope. Although FDR's New Deal did not end the Great Depression it eased the people’s suffering and reformed many of the problems that contributed to the depression by providing relief, recovery, and reform while fundamentally changing the role of the federal government towards the people.…

    • 939 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    How Did Roosevelt Strengthen America
    • 440 Words
    • 2 Pages

    How Did Roosevelt Strengthen America

    Franklin D. Roosevelt took specific actions to strengthen America to help pull herself out of the Great Depression. Roosevelt promised voters a New Deal that would make the Government assist the population. In the first one hundred days of him being in office, he faced four major challenged: reviving the industrial economy, relieving human suffering, helping the farmers, and reforming aspects of the capitalist system that assisted in the cause of the Great Depression. Soon the President and Congress were ready to fight the Great Depression through the First New Deal. Roosevelt helps to regulate banks by calling the Congress into session to pass the Emergency Banking Relief Act with declared a four-day bank holiday, which allowed the finical…

    • 440 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Fdr's Response to the Great Depression Essay Example
    • 1263 Words
    • 5 Pages

    Fdr's Response to the Great Depression Essay Example

    The stock market crash of 1929 set in motion a chain of events that would plunge the United States into a deep depression. The Great Depression of the 1930's spelled the end of an era of economic prosperity during the 1920's. Herbert Hoover was the unlucky president to preside over this economic downturn, and he bore the brunt of the blame for the depression. Hoover believed the root cause of the depression was international, and he therefore believed that restoring the gold standard would ultimately drag the United States out of depression by reviving international trade. Hoover initiated many new domestic works programs aimed at creating jobs, but it seemed to have no effect as the unemployment rate continued to rise. The Democrats nominated Franklin Roosevelt as their candidate for president in 1932 against the incumbent Hoover. Roosevelt was elected in a landslide victory in part due to his platform called "The New Deal". This campaign platform was never fully explained by Roosevelt prior to his election, but it appealed to the American people as something new and different from anything Hoover was doing to ameliorate the problem. The Roosevelt administration's response to the Great Depression served to remedy some of the temporary employment problems, while drastically changing the role of the government, but failed to return the American economy to the levels of prosperity enjoyed during the 1920's.…

    • 1263 Words
    • 5 Pages
    Good Essays
    Read More
  • Better Essays

    Hoover And Franklin D. Roosevelt: Two Different Leaders
    • 1254 Words
    • 6 Pages

    Hoover And Franklin D. Roosevelt: Two Different Leaders

    Roosevelt, all eyes turned to him as a new guidance. Unlike Hoover, Roosevelt had plans and laws to try and restore America’s economy during the Great Depression. During his acceptance speech he promised to the public: “I pledge you, I pledge myself, a new deal for the American people" (Franklin D. Roosevelt). Roosevelt would soon then introduce to the public “The New Deal”. The New Deal was a set of programs to help relieve the Great Depression and to try to resolve the issue that it was causing to the public. One of those programs was creating jobs for them. Roosevelt saw the unemployment rate sky rocket as people were homeless out on the streets. He created public jobs for people to make, such as: highways, bridges, hospitals, schools, libraries, airports, post offices, theaters, and parks all across America to decrease unemployment rates. Another solution to help deal with the Great Depression was Roosevelt declaring a four day “bank holiday”. He explained the use of the bank holiday in his fireside chat and why it exists. It exists to relieve chaos to the public and explain that banks will now not be invested in stocks with their money deposits. He asks for the people’s cooperation and to stay calm as he is finding more solutions to end the Great Depression. Last but not least, Roosevelt’s plan for senior citizens. Roosevelt introduced the Social Security Act and made a speech to congress stating that the government…

    • 1254 Words
    • 6 Pages
    Better Essays
    Read More
  • Good Essays

    DBQ Fdr's New Deal
    • 874 Words
    • 4 Pages

    DBQ Fdr's New Deal

    The Great Depression was the worst economic depression the US had ever faced in history. Set in motion after the crash of the stock market in 1929, the Depression led to the dramatic rise in unemployment rates, the vast migration of people, especially farmers, looking for jobs, food shortages, and an increasing hatred towards Hoover’s advocacy for laissez-faire and polices for reform. The years from 1929-1932 reflected a dark era in which Americans were afraid and unsure of what was to come next. With the nomination of Franklin D. Roosevelt as president, a feeling of hope emerged with the thought that this problem could be solved. With FDR’s New Deal, the nation was able to revitalize itself to the way it once was. Although WW II ultimately…

    • 874 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Roosevelt's New Deal Programs During The Great Depression
    • 321 Words
    • 2 Pages

    Roosevelt's New Deal Programs During The Great Depression

    Many differ over whether Roosevelt’s programs were economically prosperous. However, there is an agreement that they were generally effective in terms of enhancing the morale of the American people. Many historians say that FDR’s New Deal programs brought America’s economy back from the remoteness of the Depression. I think that the New Deal provided further jobs to more people as well as supplying relief funds to people who could not find work. By doing these things, the New Deal expanded the quantity of money that Americans had to spend. When Americans had more money to spend, there was more demand for services and goods, therefore, more people had to be hired to meet that demand. However, there are some who say that the New Deal really didn’t as much as it…

    • 321 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Roosevelt's Campaign Platform: The New Deal
    • 967 Words
    • 4 Pages

    Roosevelt's Campaign Platform: The New Deal

    Democratizing Capital talked about the New Deal in a positive way. It was very candid in the way it resonated its message. It stated that the New Deal would prevent a future stock market crash and avoid a depression. The stock market crash of 1929 set into motion a series of events that would launch the United States into a fathomless recession. The Great Depression epitomized the end of an era of economic prosperity during the 1920's. Herbert Hoover was held accountable for the economic downturn. Hoover believed the root cause of the depression was international, and he therefore believed that restoring the gold standard would ultimately drag the United States out of depression by reviving international trade. Hoover initiated many new domestic works programs aimed at creating jobs, but it seemed to have no effect as the unemployment rate continued to rise. The Democrats nominated Franklin Roosevelt as their candidate for president in 1932 against the incumbent Hoover. Roosevelt was elected in a landslide victory in part due to his platform called "The New Deal". This campaign platform was never fully explained by Roosevelt prior to his election, but it appealed to the American people as something new and different from anything Hoover was doing to ameliorate the problem. The Roosevelt administration's response to the Great Depression served to remedy some of the temporary employment problems, while drastically changing the role of the government, but failed to return the American economy to the levels of prosperity enjoyed during the 1920's.…

    • 967 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    New Deal Dbq Essay
    • 467 Words
    • 2 Pages

    New Deal Dbq Essay

    In the 1930s, the United States was in the hardest, most difficult economic situation ever seen by America. Franklin Delano Roosevelt was elected in 1932, and introduced the New Deal to help the people in this time of economic difficulty. FDR’s administration gave very effective responses to problems of the Great Depression as unemployment rate slowed down greatly. Additionally, due to the New Deal, the federal government helped the people more, and became more interactive with the citizens.…

    • 467 Words
    • 2 Pages
    Good Essays
    Read More
  • Better Essays

    New Deal Dbq
    • 1446 Words
    • 6 Pages

    New Deal Dbq

    1933-1939 periods were one of the most critical periods in the American History. Around 1929, Americans faced unremitting economical privation, where complete reformation was required in order to restore its economical health. The Great Depression of America destroyed its confidence and trusts in the government, furthermore, the causes of the Great Depression were merely due to the failure of the economical status of America. President Franklin D. Roosevelt- one of the greatest American presidents of his time and elected by the Democrats- proposed a treaty to be called the New Deal of 1933-1939. The New Deal projected new principles for government interference in the economy. The steps the New Deal acquired many Americans…

    • 1446 Words
    • 6 Pages
    Better Essays
    Read More
  • Good Essays

    How Did New Deal Impact The Great Depression
    • 146 Words
    • 1 Page

    How Did New Deal Impact The Great Depression

    I, feel that the government backed “New Deal” program had more of an impact on the “Great Depression”. This program laid out a foundation for overcoming the many challenges in the unforeseen future of our nation. This program helped restore the average working class man some sort of personal dignity,pride and honor. This program gave back working families the ability the ability to provide somewhat for the families present needs but also to dream of a bigger and prosperous future. Even though wages were not very high during this time it allowed many to still hold their heads up high and feel as if they were contributing not only to the well being of their their family but to the country as well. This restored dignity,pride and honor…

    • 146 Words
    • 1 Page
    Good Essays
    Read More
  • Good Essays

    Fdr New Deal Analysis
    • 851 Words
    • 4 Pages

    Fdr New Deal Analysis

    In October of 1929, the stock market crashed. In the weeks, months, and years following the crash many banks failed and unemployment reached highs of around thirty percent of the workforce. While the crash of 1929 was not the only cause of the Great Depression, it did accelerate the onslaught of the global economic collapse and of the start of the Depression. After many failed attempts to revitalize America, Hoover lost his reelection bid in 1932 and FDR was elected president. Through his New Deal plans, FDR enacted many measures that helped to lessen the worst effects of the Great Depression and they fall into three distinct categories: relief, recovery, and reform.…

    • 851 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    The New Deal Dbq
    • 610 Words
    • 3 Pages

    The New Deal Dbq

    Roosevelt did not manage to end the Great Depression, he did live up to his promise as he made every effort to provide “every man… a right to make a comfortable living” (Foner, GML, 810) through the New Deal. The goal of the first New Deal was on economic recovery and relief. The first New Deal did live up to its promise as banks were recovered. As stated by Foner, “not a single bank failed in the United States [in 1936]” (Foner, GML, 813). Although tenants and sharecroppers were often excluded from the benefits, the first New Deal also improved America’s algriculture through the Agricultural Adjustment Administration. Additionally, the first New Deal provided jobs for millions of Americans through programs such as the Civilian Conservation Corps. President Roosevelt even made efforts to reassure the public through his fireside chats. In one of the chats, he announces that, “...we are moving forward to greater freedom, to greater security for the average man than he hasever known before in the history of America” (Foner, GML, 830). The goal of the second New was on reforming the system and producing economic security to protect Americans from umemployment and poverty. Like the first, the second New Deal also lived up to its promise. The Works Progress Administration managed to support the umemployment and created jobs for many others. Most importantly, Roosevelt kept his promise by creating the Social Security Act during the second New Deal that provided aid for the elderly, disabled, and the unemployed. The Wagner Act of 1935 also provided protection to the labor force and was responsible for the growth of labor movements. While one can argue that the New Deal did not live up to its promise because it did not provide economic recovery and security for all Americans, it is still crucial to consider how Roosevelt, through the New Deal, did create jobs for millions of Americans and provided a new foundation for America’s economy and the federal…

    • 610 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    The New Deal: The Effects Of The Great Depression
    • 325 Words
    • 2 Pages

    The New Deal: The Effects Of The Great Depression

    A period of time known as the Great Depression was the most severe and sustained economic enfeeblement in the United States. This harsh drawback in the country eventually ensued soon after the stock market crash, also known as Black Tuesday, in 1929, where Wall Street experienced extreme panic and lost many investors. Declines in industry and the rise of unemployment came about due to the plummeting of consumer spending and investments. President Franklin D. Roosevelt though helped to lessen the effects of the Great Depression through relief and reform. His administration and establishment of the New Deal greatly impacted unemployment, labor unrest, the economy, and the government during the period 1929-1941.…

    • 325 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    New Deal Argumentative Analysis
    • 1990 Words
    • 8 Pages

    New Deal Argumentative Analysis

    The Great Depression of the 1930’s was the worst economic period in the history of the United States. Taking over the presidency in 1932, three years after the Depression began, Franklin Delano Roosevelt became responsible for leading America’s quest to escape the Depression. Roosevelt passed the New Deal in an attempt to help the nation recover through a series of initiatives focused on economic recovery. While most people would agree that the New Deal had a definite impact on the United States throughout the early-1930’s, there are some critics that think that the New Deal prolonged the Great Depression. These critics believe that different initiatives could have returned the United States to prosperity much sooner, and that the Depression would’ve continued much longer if not for the start of World War II.…

    • 1990 Words
    • 8 Pages
    Powerful Essays
    Read More

Related Topics