Site Loader
Rock Street, San Francisco

The Great Depression caused mass problems for the United States. Nearly nine thousand banks failed after the stock market crash. The Great Depression lasted from 1929-1939, it is the longest lasting economic downturn in the history of the western industrialized world. It left people without jobs and made money worth nearly nothing to where they used it as fire starter. In the United States the Great Depression caused wall street to fall into a panic and wiped out millions of investors.The decade of the Great Depression marked the beginning of the highest unemployment rate, poverty, low profits, deflation, and lost opertunities for economic growth. The exact reason for the economic downfall is still unkown but it was mostly because the market crashed. Many people thought the future looked grim and that they’d never get out of it. It caused buisness’s to slow down production, which led to reduced spending. The industries that suffered the most were construction, agriculture (due to the dust bowl), shipping, mining,  logging, and automobiles. At the time President Roosevelt was in office and was leading the country through this downfall. Roosevelt signed the Domestic Legislation or New Deal, which expanded the role of the federal government in the nations economy in an effort to addres the challenges of the great depression. He was elected into presidency four times, he served from March 1933 until his death in office in April 1945. During the presidency he did whatever he could to get the people out the depression, the united citizens appreciated him for this but it took a while to gain their trust.His programs were put into place to help out the american citizens or ” The forgotten man “. The programs he had were civilian conservation corps (CCC), Civil Works Administration (CWA), Farm Security Administration (FSA), National Industrial Recovery (NIRA), and the Social Security Administration (SSA). The programs provided support for farmers, the unemployed, youth and elderly,  they put new constraints and safeguards on the banking industry. Most of the programs were enacted between 1933-1938 and others were later on. The federal government was changing because the new deal expanded governments role in the economy. This provides power to regulate previously regulated areas of commerce. They regulate banking, agriculture, and housing so they market doent crash again. The programs also allowed the people to have social security and welfare aid for the poor. These acts allowed the government to be more involved in the lives of citizens. Roosevelt used the governments invovment in the United States citizens to fight the unemployment rate and poverty.

Post Author: admin

x

Hi!
I'm Glenda!

Would you like to get a custom essay? How about receiving a customized one?

Check it out