President Franklin Delano Roosevelt initiated several acts that fixed the bank problems and helped the American people obtain jobs and relief during the Great Depression, according to PBS's The American Experience. These acts included the Emergency Banking Bill of 1933, the Glass-Steagall Act (FDIC), the Civil Conservation Corps, the Works Progress Administration, the Home Owners' Loan Corporation, the National Industrial Recovery Act and the Federal Emergency Relief Administration.Know More
President Roosevelt took an active approach to solving the nation's problems by calling in all the experts and theorists he could to help brainstorm solutions to the Great Depression, PBS reports. His predecessor, Herbert Hoover, had let the Depression run its course, believing it was not the government's job to get involved.
The Emergency Banking Bill of 1933 stabilized the banking system. The Glass-Steagall Act created the FDIC, which gave bank deposits the protection of federal insurance. The Civil Conservation Corps put young men ages 17 to 23 to work in forests and national parks. They earned $30 a month, much of which was sent back to assist their families, according to the Authentic History Center.
The Works Progress Administration employed more than 8.5 million men to build roads, bridges, public buildings and parks. This program improved public property and offered jobs to those who desperately needed them. The National Industrial Recovery Act helped to regulate hours worked and to ban child labor. The Federal Emergency Relief Administration delivered money to states to create work relief programs.
The Agricultural Adjustment Act helped the farmers struggling in the Dust Bowl by paying them to reduce their crops. It also offered loans for farmers facing bankruptcy. Finally, the Home Owners' Loan Corporation helped people facing foreclosure keep their homes.Learn more about US History
Some historians believe that the Great Depression was ended by the start of World War II. Others believe it was actually the end of World War II that put the economy back on its feet. Historians generally agree that the government's spending helped to at least accelerate the country's rate of economic recovery.Full Answer >
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 >
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 >
According to the International Encyclopedia of the Social Sciences, the Great Depression was a worldwide occurrence that affected the majority of market-oriented countries, in particular those that were in adherence to the gold standard. The U.S. stock market crash of 1929 precipitated the worldwide Great Depression.Full Answer >