August 11, 2009
U.S. History 1914-1945
The New Deal was a welcomed change from the politics as usual in Washington DC. This fact is proven by the landslide victory achieved by Franklin Delano Roosevelt over Herbert Hoover in the election of 1932. In the New Deal, President Roosevelt pledged a new system of doing things, which would not only bring an end to the Depression but also prevent the events that brought it. This new deal was necessitated by the effects of the Great Depression, which was caused by a perfect storm of events beginning with the Stock Market crash of 1929. While some of the New Deal Programs were very effective by and large the success of the New Deal is certainly debatable. At the time it was welcome due to the ineffectiveness of the Republican administration of Herbert Hoover. On Tuesday October 29, 1929 the New York Stock Market crashed. In the 1920s, the economy of the United States grew larger than at any time previous. The number of millionaires in 1914, 4500 grew to 11,000 by 1920. Not only were there more than double the millionaires, there was also an abundance of commodities. The automobile was in production thanks to Henry Ford’s assembly line and his $5 a day wage. Industry was booming due to the recent revolution. Motion pictures were being produced. The Wright Brothers had successfully flown an airplane; Louis Sullivan had created the first skyscraper, which lead to a new urban society. The Olmstead Act created urban parks. Marshall Field created the first department store. Herbert Hoover, the President in 1929, did little to relieve the Depression. Being a Republican he was a firm believer in the laissez faire system of capitalism. This system of rugged individualism was based on the idea the Americans were too proud to accept government handouts. Hoover did take some measures to stem the tide, such as convincing businesses not to lower their payrolls, and also obtaining pledges from...