Reasons for the New Deal programs.
On October 24, 1929, the initial crash of the U.S. stock market, known as Wall Street Crash of 1929, set off a worldwide downward spiral in every part of the globe. Then, on Tuesday October 29, the stock market fell even more than it had on October 24. This day is known as Black Tuesday. Roosevelt entered office with no single ideology or plan for dealing with the depression. He was willing to try anything, and, indeed, in the First New Deal virtually every organized gained much of what they demanded. This First New Deal thus was self-contradictory, pragmatic, and experimental. The economy eventually recovered from the deep pit of 1932, and started heading upward again until 1937, when the Recession of 1937 sent the economy back to 1934 levels of unemployment. Whether the New Deal was responsible for the recovery, or whether it even slowed the recovery, is a subject of debate.