Black Tuesday Essay Outline

Introduction & Thesis: October 29, 1929 is a day forever known as “Black Tuesday”. It was a day when the American stock market crashed causing the United States to plunge into a severe economic downturn. It was the Great Depression. People lost their shirts, banks failed, the nation’s money supply diminished and companies went bankrupt causing workers to be fired in droves. The then president, Herbert Hoover, said the crisis was just “a passing incident in our national lives” but by 1932, one-quarter of the American workforce was unemployed. In 1933, President Franklin Delano Roosevelt took office with his first priority being to try and stabilize the economy and provide jobs and relief to those who were suffering. During the next eight years, the government instituted many experimental projects and programs, known collectively as the New Deal that aimed to restore dignity and prosperity to many Americans. My thesis is that, …show more content…
They created a brand-new political coalition that included people of all cultures, including left-wing intellectuals. This group rarely shared the same interests but they did share a powerful belief that an interventionist government was good for their families, the economy and the nation. Most of this coalition has broken up over time, but many of the New Deal programs that bound them together, such as Social Security, FDIC, Securities and Exchange Commission, Federal National Mortgage Association (Fannie Mae), National Labor Relations Board, Soil Conservation Service, unemployment insurance and federal agricultural subsidies are still vital to the U.S. today. Roosevelt’s New Deal did indeed change the federal government’s relationship to the people of the United States. Although there are many pros and cons of the New Deal programs, I conclude the changes were for the