After the Stock Market Crash of 1929, the stock market and the entire nation was ushered into a new age, The Great Depression. Many lives were shattered with the downfall of the market, every single movement by the Federal Reserve was watched and banks began to fail with the continuous withdraws of money, forcing many to close down leaving Americans who never get their money in time poor. One man though, had the rights and the responsibilities to change our economic situation, and shape what we know today as America. Franklin D. Roosevelt started The New Deal, many of its individual programs which still to this day affect us. While most people state that the economy recovered due to Franklin D. Roosevelt’s New Deal Program, others considered World War II the end of the Great Depression and the economic crisis in its entirety, blaming Franklin D. Roosevelt for not implementing bigger reforms in order to turn the tide of the Great Depression.
President Herbert Hoover, the president of the United States before the New Deal era, was struggling to regain control of America’s struggling economy after the 1929 stock market crash known as Black Tuesday. President Hoover tried to pass new laws and raised interest rates to deflect investors from borrowing money to put into the stock market, which did not make the conditions any better. Stores began too close, 25,000 banks failed and stocks lost almost 75% of their value. By the end of President Hoover’s presidency, people wondered if their wishes, prayers and hopes to get back onto their feet’s would be answered. A Chicago school teacher, Elsa Ponselle, said, “People would always live in fear of losing their jobs,” as she recalled the events of stores closing and restaurants going into debt in her town. Hope was bleak, but little did American’s know, their prayers would be answered in 1932.
Presidential Candidate Franklin D. Roosevelt was the name of change to the American people. He took the interest of the people and made a promise that he would end the Great Depression and start a new era in America’s economy. He said that he would be responsible for that promise and make that promise a reality. This promise was The New Deal. Many people rallied behind him, supported him, and urged America to vote for him. Roosevelt’s wife Eleanor Roosevelt said in an interview, “The crowds were so tremendous, and you felt that they would do anything-if only someone would tell them what to do” after the Presidents inauguration. America did just that and Franklin D Roosevelt became the 32nd President. During his inaugural address, Franklin D. Roosevelt promised that he will give America a New Deal that would change the face of America forever. He said it was his responsibility to not evade action but to wage “war” to fix America and to bring balance by making the New Deal so everything will affect each other equally.
Immediately after his speech, Franklin D Roosevelt went straight to work and skipped the...