The Great Depression : The New Deal Essay

1139 Words Dec 9th, 2015 5 Pages
On October 29, 1929, on a day know as “black tuesday”, the Start Market Crashed resulting in one of the most terrifying events in American history, the Great Depression. At this time “banks failed, the nation 's money supply diminished, companies went bankrupt, and workers were being fired in packs”. When FDR became president in 1933 he tried to “stabilize the economy” and “provide jobs to those who were suffering”. To do this FDR instituted “a series of experimental projects known as the New Deal”. The New deal would stay in progress over the next 8 years, aiming to restore “dignity and prosperity” to Americans (History.com staff). Although FDR’s New Deal brought relief to the people and reformed our government, it failed to end the Depression prolonging unemployment, and determined opposition against him.
FDR’s New Deal took immediate action to attempt to stop the deterioration of the American Economy. It helped “millions of people [receive] relief” by setting up a number of acts and laws (How Successful was the New Deal?). After the depression hit “banks failed; nation 's money supply diminished; companies went bankrupt and workers were being laid off in packs”. The first thing FDR did to try and stop the panic was to suspend “all banking transactions for 4 days” which became known as the Bank Holiday (History.com Staff). This and the Emergency Banking Act helped “establish the integrity of the U.S. payments system and demonstrated the power of credible regime-shifting…

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