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Franklin Delano Roosevelt And The Great Depression

620 words - 2 pages

After Hoover's administration, America was slowly pulling out of the Great Depression. America had just begun its recovery as Franklin Delano Roosevelt's administration began, and had little to work with following Hoover's attempt to help America's economic troubles. Hoover had given little assistance in unemployment in America, but was able to greatly increase taxes, putting many Americans in debt. But soon after Roosevelt's inauguration, change in America's Economy immediately began with his institution of the New Deal. This New Deal withheld banking reform laws, emergency relief programs, work relief programs, and agricultural programs, helping all special interest groups still recovering from the Depression.What Hoover left for Roosevelt to work with was the Emergency Relief and Construction Act, the first unemployment service, increased subsidies for farmers with the Agricultural Marketing Act, the Emergency Relief Organization, leading to many relief committees around the U.S., and only a few other contributions made to aid the U.S. citizens. But the only way to pay for these Government aid programs lead to one of the largest tax increases made in the U.S. The Smoot-Hawkley tariff and the Revenue Act of 1932 greatly contributed to the major tax increase, setting high tariffs on worldwide trade, and raising the income tax up to 50%. According to a graph showing unemployment in America, it is apparent that Hoover's contributions to U.S. economy had little effect (Document J).Following Roosevelt's administration, came the New Deal with its many unique programs identified as an "Alphabet Soup". Roosevelt's programs helped with banking reform laws, emergency relief programs, work relief programs, and agricultural programs. As President, his first action was to help all federal banks. By reopening all working banks, and closing all others in trouble, the four days he gave those banks a "holiday", he was able to fund those banks, and...

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