The New Deal
was a political and social plan that was the presidential campaign platform of Franklin Delano Roosevelt. Although Roosevelt was very vague about what it was and actual measures to be taken while running for president, was the shinning hope for many Americans who had lost their jobs or were living in poverty. After the United States had plummeted into the greatest depression to face this country while Herbert Hoover lead the country, many voters were looking for anyone with a promising plan and a bright outlook. As banks closed and unemployment rates soared, Roosevelt promised a balanced budget, and spoke of Hoover�s rash and excessive spending. The election of 1932 was a landslide in ...
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Congress passed the Emergency Banking Relief Act of 1933, which allowed the government to reopen closed banks, and regulate banking and foreign exchange. The Glass-Steagall Banking Reform Act was later passed in order to form the Federal Deposit Insurance Corporation, insurance to civilians for their banking deposits up to $5,000, which was later raised. These to bills encouraged the public to once again trust their banks, and to deposit money in the banks instead of hiding it "under their mattresses." Compared to the more than 4,000 bank failures of 1933, there were only 57 in 1934 because of these actions. The Agricultural Adjustment Act and the Home Owners� Loan Corporation were both formed to help farmers and other households with paying their mortgages, as well as helping the mortgage-holding banks to stay in business. The Frazier-Lemke Farm Bankruptcy Act suspended mortgage foreclosures for three years, and moved farmers with small amounts of poor land to better ...
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Works Administration was formed as a temporary source of jobs such as leaf raking during the particularly cold winter of 1933. All of these actions were still not enough to completely defeat the monster of unemployment. In 1935, the Works Progress Administration was formed, and spent about $11 billion employing people to construct public buildings, bridges, and hard-surfaced roads. Part-time jobs were also found for white collar workers; artists painted murals in public buildings and people like John Steinbeck counted dogs. Trying for a national comeback, the National Recovery Administration was formed in order to help with industry, labor, and unemployment. Workers were guaranteed the ...
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The New Deal. (2007, June 7). Retrieved November 28, 2024, from http://www.essayworld.com/essays/The-New-Deal/66057
"The New Deal." Essayworld.com. Essayworld.com, 7 Jun. 2007. Web. 28 Nov. 2024. <http://www.essayworld.com/essays/The-New-Deal/66057>
"The New Deal." Essayworld.com. June 7, 2007. Accessed November 28, 2024. http://www.essayworld.com/essays/The-New-Deal/66057.
"The New Deal." Essayworld.com. June 7, 2007. Accessed November 28, 2024. http://www.essayworld.com/essays/The-New-Deal/66057.
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