The New Deal :: essays research papers

During the 1930s, America witnessed a breakdown of the Democratic and free enterprisesystem as the United States fell into the trenchant up Depression in history. The effects of thedepression were being felt everywhere in the United States. In 1933, sixteen millionpeople were unemployed. Americans wanted and needed a change. They proved this byelecting Franklin D. Roosevelt in 1932. This was the beginning of a new period in time forAmericans, as Roosevelt would introduce his course of action with the upstart chew. WouldRoosevelts New conceive be what Americans needed to counteract the effects of thedepression? In Roosevelts first inaugural address he declared, In the event thatCongress hall fail to take these courses and in the event that the national emergency is stillcritical I shall not evade the clear course or duty that will then confront me. Rooseveltscourse of action came to be known as the New Deal. The New Deal describes theinnovative measures that President Roosevelt took to try to restore the Americaneconomy, give Americans pride again, and have faith in the government. The New Dealstarted in 1933 and lasted until 1938. The New Deal was based on relief, recovery, andreform. The New Deal included federal action of unprecedented scope to stimulateindustrial recovery, assist victims of the Depression, guarantee minimum existing standards,and prevent future economic crises. Many economic, political, and social factors lead upto the implementation of the New Deal. In the first two years, the New Deal was bear on mainly with relief, setting up shelters and soup kitchens to feed the millions ofunemployed. On March 6, 1933 Roosevelt called a nationwide bank holiday, and onMarch 9 Congress passed the parking brake Banking Act, which provided for federal bankinspections. In the summer of 1933, the Glass-Steagall Act set much more stringent rulesfor banks and provided insurance for depositors through the newly formed federal deposition Insurance Corpo ration (FDIC). These acts helped to restore the confidence in thewake of widespread bank failures. Two acts, one in 1933 and one in 1934, required tiny regulations for the securities market, enforced by the new Securities andExchange Commission (SEC). Several bills provided mortgage relief for farmers andhomeowners and offered loan guarantees for home purchasers through the FederalHousing Administration, or FHA. The Federal Emergency Relief Administration expandedexisting relief grants to the states and resulted in assistance for more than 20 millionpeople. The Civilian Conservation Corps (CCC) provided prepare relief for thousands ofyoung men under a type of military discipline. The CCC emphasized reforestation, among