The Success Of The New Deal

1826 words - 7 pages

The Success of the New Deal

In 1932 the citizens of the USA were eager to see Herbert Hoover out
of office. From the start of The Wall Street crash (1929), President
Hoover had done next to nothing to try and counter the Depression
following. He and the republicans argued that Economy went in cycles
of "bust" and "boom". He kept insisting, "Prosperity is just around
the corner." This gave the Democratic Party, led by Franklin Delano
Roosevelt, a great chance to attack the Republicans and their

"I pledge you, I pledge myself, to a New Deal for the American
-An extract from Roosevelt's pre-election speech in 1932.

Roosevelt promised. from his speeches, a new deal for the American
people. It was clear that F.D.R planned to use the power of the US
government to attempt to pull America out of depression and back into
prosperity. His main aims were as follows:

§ -Getting Americans working again (cutting down on unemployment!)

§ -Protecting American's savings and property

§ -Providing relief for the sick, old and unemployed

§ -Getting American industry and agriculture running again (and doing

The best way to assess the New Deal is to analyse how well it had
achieved what it had been set out to do.

F.D.R had set one of his goals, for the New Deal, as ending
unemployment and getting Americans back to work. In 1933,
approximately ¼ of the labour force were out of work. Hoover did
nothing (introduced no dole - unemployment benefit!!). By 1940,
unemployment had fallen 10%, but mostly due to war in Europe - still 6
million unemployed, but F.D.R had taken action already in the form of
the "Alphabet agencies" like CCC and TVA.The agencies created many
jobs. The new deal stabilised the banking system (helping white collar
workers). T.V.A built dams, provided work and also improved the
surroundings. They were aimed at men, not women. The New deal created
millions of jobs through agencies, such as CCC and P.W.A, which also
built schools, roads, etc. However, it had failed in other aspects:
projects like CCC were aimed only at men and many alphabet agencies
discriminated against blacks in one way or another.

F.D.R aimed to protect Americans' savings and their property, as well
as restoring confidence and restoring the economy. The New deal cut
the number of business failures and stabilised the American banking
system. Banks were lent money and checked to make sure they were
suitable to continue as safe, good banks. However, the New Deal never
solved the underlying economic problems. The US economy took longer to
recover than most European countries. Confidence remained low -
throughout the 1930s Americans only spent and invested about 75% of
what they had before 1929. Roosevelt encouraged people to spend and
invest again - however the...

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