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
The Civilian Conservation Corps (CCC) was a public work program intended to create work for men during the Great Depression. Males between the ages of 18 to 25 were recruited to plant trees, and do other forms of outdoor labor to keep them off the streets.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 >
Reasons for the Great Depression include the stock market crash of 1929, the dust bowl storms of the Midwest, uneven distribution of wealth and rapid industrial expansion. A universally accepted list of causes does not exist, however.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 >