In 1929 the stock market crashes. Millions of dollars are lost, around 80% of families have no savings to fall back. (A) Many people’s money is tied up in stocks. One out of every four people is jobless (C), 28 states do not have any banks and 200,000 homeless children wander the country. (A) As time goes on, for millions of Americans, there seems to be no hope. More and more people are forced out of their homes and go to live in small shanty towns called Hoovervilles and have to wait for food in bread lines.(C) Depression settles over the United states. Then, in 1933, a man named Franklin Delano Roosevelt gives the country a glimpse of hope with his plan to repair the nation with a project called the New Deal. Roosevelt’s New Deal was successful
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In the 1920s, many banks were making risky investments. When the stock market crashed many banks collapsed and could not give customers their money back. As a result trusted banks much less and would not put money in them. By 1933, 28 states did not have any banks. (A) The Emergency Banking Act in the New Deal fixed this problem by temporarily closing all banks and then the government evaluated each one reopening only the trustworthy ones. (D) The unsafe banks would be reorganized by the government before they could reopen. (D) The banking holiday also allowed the government to provide banks with enough currency to meet the demand. (D) To ensure the safety of the customer’s deposits and to encourage people to put their money in the banks and trust them again, the government created the Federal Deposit Insurance Corporation. The FDIC ensured that if the bank closed or failed the people would still get their money. (D) Because of the New Deal people began to trust the banks and put money in them again which helped the banks be able to be active in the economy again. This solved the banking crisis which helped the New Deal be successful in its efforts to end the …show more content…
Roosevelt’s New Deal was successful because of creating millions of job and fixing the banking crisis. The New Deal helped to put millions of jobless Americans to work. (F) The workers helped the infrastructure of the country, which allows for growth, and the economy by starting to buy goods again. (E, F, G) The programs created by the New Deal helped people have a sense of job security which made them more likely to buy products which created more jobs. When the New Deal fixed the banking crisis, it added to the success by allowing people to feel secure about their money being safe. Because of the EBA the banks were able to receive enough currency to meet demand and start to be active in the economy. (D) By creating millions of jobs and fixing the banking crisis the New Deal succeeded in helping to get the United States out of the Great
In the 1920s, many banks were making risky investments. When the stock market crashed many banks collapsed and could not give customers their money back. As a result trusted banks much less and would not put money in them. By 1933, 28 states did not have any banks. (A) The Emergency Banking Act in the New Deal fixed this problem by temporarily closing all banks and then the government evaluated each one reopening only the trustworthy ones. (D) The unsafe banks would be reorganized by the government before they could reopen. (D) The banking holiday also allowed the government to provide banks with enough currency to meet the demand. (D) To ensure the safety of the customer’s deposits and to encourage people to put their money in the banks and trust them again, the government created the Federal Deposit Insurance Corporation. The FDIC ensured that if the bank closed or failed the people would still get their money. (D) Because of the New Deal people began to trust the banks and put money in them again which helped the banks be able to be active in the economy again. This solved the banking crisis which helped the New Deal be successful in its efforts to end the …show more content…
Roosevelt’s New Deal was successful because of creating millions of job and fixing the banking crisis. The New Deal helped to put millions of jobless Americans to work. (F) The workers helped the infrastructure of the country, which allows for growth, and the economy by starting to buy goods again. (E, F, G) The programs created by the New Deal helped people have a sense of job security which made them more likely to buy products which created more jobs. When the New Deal fixed the banking crisis, it added to the success by allowing people to feel secure about their money being safe. Because of the EBA the banks were able to receive enough currency to meet demand and start to be active in the economy. (D) By creating millions of jobs and fixing the banking crisis the New Deal succeeded in helping to get the United States out of the Great