Roosevelt's Negative Impact On American Society During The Great Depression

The great depression was an economic crisis that took place on October 29, 1929. The depression was the longest-lasting and deepest economic downturn in history. It began after the stock market crash of 1929, which sent Wall Street into a panic and millions of investors penniless. Over the next few years, investment and consumer spending dropped, causing unemployment rates to rise and industrial output to decline. By 1933, about 13 to 15 million Americans were unemployed and most of the country 's banks failed. As Franklin D. Roosevelt entered the presidency, he put a relief and reform measure into place to help with the depression. Before October 29, many investors on October 24 were dumping their shares altogether. Finally, five days later on “Black Tuesday” 16 million shares were traded leaving millions of the shares worthless and investors penniless. The great depression had an enormous impact on American society in the 1920’s.
When the Great Depression hit the president at that time was Herbert Hoover, he believed that the economy would eventually right itself. By 1930, about 4 million Americans were …show more content…
At one point Roosevelt tried to appoint six new justices to try and "pack" the court with judges that would easily support his policies and the new deal, but he failed. Republicans viewed the new deal as socialistic programs. The first new deal was a failure, so Roosevelt started a second new deal. In then second new deal Roosevelt passed the social security act which provided for people who didn 't have enough to provided for their self. Many wealthy people were upset because they had to pay higher taxes due to the social security act providing for people in need. The second new deal set out more jobs, they spent $11 billion to give jobs to workers even if they 're unskilled. As American life changed, people learned to adapt to government