The Great Depression lasted from 1929-1939. This was a very low point in U.S. history. Roosevelt came into office and had big plans to try and help the great depression. His goal was to help the common people that were struggling. Roosevelt wouldn’t know that these plans would fail in trying to fix the economy. Roosevelt’s New Deal did not fix the great depression because it instituted new programs that were quickly made and not well thought out, put into an effect a high tax to help the government which really hurt the people, and did not give enough help to the banks, so the people’s confidence would have been restored.
The Programs Roosevelt made very rushed and ineffective programs to try and fix the hurting economy. Some of Roosevelt’s …show more content…
“On a Sunday night a week after my Inauguration I used the radio to tell you about the banking crisis and the measures we were taking to meet it. I think that in that way I made clear to the country various facts that might otherwise have been misunderstood and in general provided a means of understanding which did much to restore confidence” ("Miller Center," 2015). Roosevelt states in one of his Fireside chats that he is restoring the confidence of the Americans by completely revising and helping the banks get back on their feet. The American people began to slowly make their way back into the banking system. The banks were supported and back in business because of Roosevelt, yet they were almost still as vulnerable when they were crashing. “Tonight, I come for the second time to tell you about what we have been doing and what we are planning to do…”(Kantor's Website Sources). Roosevelt hoped to stimulate the economy by helping people put their money back in the banks, but he basically put the banks back in an unstable situation. The banks could not grow very much or change their way of business. So, the banks were unsound in this and the economy did not recover. The banks also could only go so far and then plateau because of the freedom Roosevelt gave them. By re-opening the banks, Roosevelt encouraged people to get back into the banking system. For a while this plan worked and some big time investors and normal citizens re-invested into the banks. Some of the big time investors even bought large amounts of stock. Ultimately, the banks could not go any higher than just barely recovering from the bankruptcy. This helped the Great Depression, but did not fix
The Programs Roosevelt made very rushed and ineffective programs to try and fix the hurting economy. Some of Roosevelt’s …show more content…
“On a Sunday night a week after my Inauguration I used the radio to tell you about the banking crisis and the measures we were taking to meet it. I think that in that way I made clear to the country various facts that might otherwise have been misunderstood and in general provided a means of understanding which did much to restore confidence” ("Miller Center," 2015). Roosevelt states in one of his Fireside chats that he is restoring the confidence of the Americans by completely revising and helping the banks get back on their feet. The American people began to slowly make their way back into the banking system. The banks were supported and back in business because of Roosevelt, yet they were almost still as vulnerable when they were crashing. “Tonight, I come for the second time to tell you about what we have been doing and what we are planning to do…”(Kantor's Website Sources). Roosevelt hoped to stimulate the economy by helping people put their money back in the banks, but he basically put the banks back in an unstable situation. The banks could not grow very much or change their way of business. So, the banks were unsound in this and the economy did not recover. The banks also could only go so far and then plateau because of the freedom Roosevelt gave them. By re-opening the banks, Roosevelt encouraged people to get back into the banking system. For a while this plan worked and some big time investors and normal citizens re-invested into the banks. Some of the big time investors even bought large amounts of stock. Ultimately, the banks could not go any higher than just barely recovering from the bankruptcy. This helped the Great Depression, but did not fix