Consequences of the Great Depression and Support for the New Deal

Topics: Franklin D. Roosevelt, New Deal, Great Depression Pages: 3 (988 words) Published: March 14, 2013
The New Deal and The Great Depression
Franklin D. Roosevelt was the 32nd president of the United States. He served from 1933-1945. Roosevelt helped the American people regain hope during the hardest of times. He brought confidence when he promised motivating, powerful action, and added in his inaugural address, “the only thing we have left to fear is fear itself”(Franklin D. Roosevelt). During the toughest times of the Great Depression, he introduced the New Deal. The New Deal resorted hope and provided programs to help the people during the Great Depression.

“The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world.” Even though it is said the U.S. economy had gone into depression six months earlier, the Great Depression may be said to have begun with the collapse of stock market prices in the New York Stock Exchange. Stock prices in the United States continued to fall during the next three years. Other than ruining many thousands of individual investors, the abrupt decline in the value of assets greatly damaged banks and other financial institutions (About the Great Depression).

The Great Depression had important consequences in the political territory. Economic distress led to the election of Franklin D. Roosevelt. Roosevelt introduced Lerner 2
many major changes in the American economy. He used increased government regulation and massive public-works projects to promote recovery. In spite of this active intervention, mass unemployment and economic decline continued (About the Great Depression).

To help, Franklin D. Roosevelt came up with the idea of the New Deal. The term New Deal was coined during Roosevelt’s nomination acceptance speech (The New Deal). When launching the New Deal, Roosevelt’s intent was to address the Country’s needs. “Roosevelt...
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