How Did David Roosevelt's First Inaugural Address
On March 4th president Franklin Roosevelt delivered his first inaugural address. During this time the world was suffering from the Great Depression. It had started in U.S. when stock traders sold nearly 13 million shares of stock in one day. (At the time this was triple the amount of the average. This made prices of stock plummet and during this time the unemployment rates skyrocket from 3% to 25%.) All of this led to the dollar losing all values and banks unable to give people their saving. Roosevelt had addressed all these issues with a famous quote saying ,(”The only thing we have to fear is fear itself.”) Then stated his plan to fix the Great Depression called The New Deal.
Roosevelt’s New Deal was set underway the day after, with a emergency banking act, this act would allow banks to close for four days so they could restructure themselves and the ones that couldn’t had closed. Then three days after that Roosevelt urged people to put their savings back into the banks. His plan had succeeded and 75% of the banks were reopened. This act is still around today and is more than just …show more content…
(Prohibition was the 18th amendment which stated that all sales and consumption of alcohol would be illegal. Congress had passed this with the intention that it would bring crime and unemployment rates down. In fact this did the opposite and crime rates rose 24% more than the year before.) Also the alcohol that had been sold was taxed which was money that the economy had lost. So with Roosevelt ending Prohibition it added the tax money back to the economy, slightly helping his cause to end the Great Depression. At this time Roosevelt had passed minor acts including one to help the economy with the Tennessee Valley act which led to the Government creating inexpensive hydroelectric power to those regions. Roosevelt had kept his promise to the people and had achieved all this in the first 100 days of him being in
Roosevelt’s New Deal was set underway the day after, with a emergency banking act, this act would allow banks to close for four days so they could restructure themselves and the ones that couldn’t had closed. Then three days after that Roosevelt urged people to put their savings back into the banks. His plan had succeeded and 75% of the banks were reopened. This act is still around today and is more than just …show more content…
(Prohibition was the 18th amendment which stated that all sales and consumption of alcohol would be illegal. Congress had passed this with the intention that it would bring crime and unemployment rates down. In fact this did the opposite and crime rates rose 24% more than the year before.) Also the alcohol that had been sold was taxed which was money that the economy had lost. So with Roosevelt ending Prohibition it added the tax money back to the economy, slightly helping his cause to end the Great Depression. At this time Roosevelt had passed minor acts including one to help the economy with the Tennessee Valley act which led to the Government creating inexpensive hydroelectric power to those regions. Roosevelt had kept his promise to the people and had achieved all this in the first 100 days of him being in