?How Successful Was The New Deal?
How Successful Was The New Deal?
In 1932 Franklin D. Roosevelt won the election by nearly 7million votes, one of the biggest democratic victories ever recorded in the US. He mainly won this election due to his promises of a New Deal for the American citizens. The New Deal was a series of domestic programs enacted in the United States between 1933 and 1936. But how successful was the New Deal in solving America’s economic depression? One of the main problems was that Americans had little confidence in the banks (due to the Wall Street crash) because of this a lot of Americans were withdrawing or preparing to withdraw all their savings in the bank. Roosevelt realized that if all Americans withdrew their money it would lead to the collapse of the banking system so passed an Emergency Banking Act in 1933. This meant that the Government declared a ‘bank holiday’ and closed all banks; the banks were only allowed to reopen when they were declared financially sound. As a consequence America’s confidence was restored in the banking system so Americans kept their money in the bank, which led to the banking system functioning perfectly well. Because Roosevelt had solved this problem only a very tiny number of banks collapsed during his time as president.
By setting up Alphabet Agencies (US federal government agencies set up as a part of the New Deal) Roosevelt began to target unemployment and poverty. Agencies such as the CCC (Civilian Conservation Corps) and the PWA (Public Works Administration) were created to help the unemployment levels. The CC was set up to give men aged 18-25 6 months of work, they had to send most of the pay home to their parents and wives. The PWA was made to create more permanent jobs, unemployed workers were paid to build schools, roads and hospitals and other public works projects; this not only created immediate jobs in the construction industry but would later create job vacancies in the new schools and hospitals. When Roosevelt
In 1932 Franklin D. Roosevelt won the election by nearly 7million votes, one of the biggest democratic victories ever recorded in the US. He mainly won this election due to his promises of a New Deal for the American citizens. The New Deal was a series of domestic programs enacted in the United States between 1933 and 1936. But how successful was the New Deal in solving America’s economic depression? One of the main problems was that Americans had little confidence in the banks (due to the Wall Street crash) because of this a lot of Americans were withdrawing or preparing to withdraw all their savings in the bank. Roosevelt realized that if all Americans withdrew their money it would lead to the collapse of the banking system so passed an Emergency Banking Act in 1933. This meant that the Government declared a ‘bank holiday’ and closed all banks; the banks were only allowed to reopen when they were declared financially sound. As a consequence America’s confidence was restored in the banking system so Americans kept their money in the bank, which led to the banking system functioning perfectly well. Because Roosevelt had solved this problem only a very tiny number of banks collapsed during his time as president.
By setting up Alphabet Agencies (US federal government agencies set up as a part of the New Deal) Roosevelt began to target unemployment and poverty. Agencies such as the CCC (Civilian Conservation Corps) and the PWA (Public Works Administration) were created to help the unemployment levels. The CC was set up to give men aged 18-25 6 months of work, they had to send most of the pay home to their parents and wives. The PWA was made to create more permanent jobs, unemployed workers were paid to build schools, roads and hospitals and other public works projects; this not only created immediate jobs in the construction industry but would later create job vacancies in the new schools and hospitals. When Roosevelt