Essay on Franklin D. Roosevelt And The Great Depression

767 Words Dec 2nd, 2015 4 Pages
After a decade of Republican presidents, rose Franklin D. Roosevelt, a Democratic president. The Great Depression had led the United States into wreckage. Even after ten years of the Great Depression, families did not earn enough money for a living in the United States. Each family needed more money than sixty percent of the Americans earned (). In 1932, around two million Americans were homeless, who became wanderers. With them were the victims of starvation and malnutrition. Men lost their jobs as women carried on with the household and nurturing kids. It was then Franklin D. Roosevelt was elected as the president to the United States. He was an incomparable, bold and a very efficient leader who managed to save the capitalist system in the United States.
He created the Temporary Emergency Relief Administration to aid the jobless. Resolving the conflicts at the federal and state banks were the first step Roosevelt wanted to take. He formed the “Brain trust” from a group of economic advisers because baking was the primary priority for the country. He passed the Emergency Banking Act, which allowed financially secured banks to reopen with government support and other banks to be handed over to the conservators. This was a temporary movement and was replaced by the Glass-Steagall Banking Act of 1933 which included the Federal Deposit Insurance Corporation (FDIR). These gave more opportunity for the government to regulate market and stock transactions. Instead of re-opening all…

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