President Franklin D. Roosevelt introduced a sweeping collection of programs and projects known as the New Deal in an effort to restrict the economic bleeding resulting from the Great Depression. In 1933, when Franklin took office, he told the American people that his administration would work to create jobs and stabilize the economy with the New Deal. The program met with mixed reactions.Know More
During his inaugural address, Roosevelt told his audience that he would treat the economic challenges facing the nation as if they were military enemies.
The early days of the New Deal saw Congress passing Roosevelt's Emergency Banking Act, which closed insolvent institutions and reorganized those that still had assets. The President implored Americans to deposit their savings in banks again. The people listened, which resulted in nearly three quarters of closed banks reopening for business.
Next, Roosevelt asked Congress to decriminalize the purchase of beer, a step toward eliminating Prohibition and stimulating the economy.
Other New Deal measures included Roosevelt signing the Tennessee Valley Authority Act allowing the federal government to construct dams along the Tennessee River to generate cheap hydroelectric power and create jobs, Congress passing a bill paying commodity farmers to stop growing their crops for a time in order to end surpluses, and Congress passing the National Industrial Recovery Act to guarantee workers the right to form unions.Learn more about US History
During the majority of the Great Depression, the President of the United States of America was Franklin Delano Roosevelt. However, the Great Depression began in 1929, when Herbert Hoover was in office. Franklin Roosevelt did not assume the presidency until 1933.Full Answer >
France responded to the Great Depression with tax hikes, spending cuts, collective bargaining, a 40-hour work week, paid vacations and a partial nationalization of the Bank of France. Many of these reforms were suspended later in the Great Depression, and France's leadership steered recovery efforts in a more business-oriented direction.Full Answer >
A major cause of overproduction in the early 1900s was the boost new technology available to farms, businesses and homes, however this overproduction did not occur during the Great Depression. Actually, it was one of the major causes. Overproduction in agriculture and manufacturing was one of the many factors that lead to the Great Depression.Full Answer >
Franklin Roosevelt made a number of suggestions to spur the economy and help end the Great Depression, including introducing basic banking and welfare reforms. While many of his programs did not take effect until much later, his ideas and programs have lasted throughout the years.Full Answer >