Franklin Roosevelt 's First Inauguration Speech Essay

1840 Words Feb 1st, 2015 8 Pages
“The only thing we have to fear is fear itself”
-Franklin Delano Roosevelt, First Inauguration Speech

On October 24th, a day known as Black Thursday, the stock market lost 11% of its value. Major Wall Street banks tried to find a solution for this loss in the midst of panic and confusion. On October 28th, or Black Monday, the Dow Jones Industrial Average lost another 13%. The next day, Black Tuesday, Dow Jones lost another 12%, and 16 million shares were sold, a record which was not broken until 40 years later.

However, this was just the tip of the iceberg. The United States of America was going to hit a bigger loss: The Great Depression. It was a 10 year struggle for the US economy that ripped right through the hull of the American economy. On top of that, a phenomenon called the Dust Bowl was damaging the agriculture of the Great Plains, forcing many to leave their homes. Republican President Herbert Hoover seemed nonchalant about the economy and made no actions whatsoever to try to help it, giving trivial comments like “Economic depression cannot be cured by legislative action or executive pronouncement,” trying to appease the public without doing anything at all. But on March 4th, 1933, Americans all across the nation had a right to be hopeful: Franklin Delano Roosevelt had been elected president of the United States of America. Even at his inaugural speech, he showed the people that he was going to take the Depression down and pull the economy back up. He…

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