New Deal - "We [H]ave [N]othing to [F]ear"i:...

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“We [H]ave [N]othing to [F]ear” i : Franklin D. Roosevelt and the New Deal Comes to America’s Rescue World War I ended in 1918, which left many European countries in debt and on the brink of a depression. Because of the weakened European economy, the world became dependent on the American economy. The 1920s was known as the “Roaring 20s”. For America, the 1920s brought a time of prosperity and great fortune to Americans. (Grant 10-11). Because the economy flourished, automobiles, electrical appliances, entertainment became very popular. As cars, stoves, radio, and other electronics became more affordable to the public, people began to put their purchases on credit, instead of saving their money. After putting their purchases on credit, many got themselves into debt. They stopped spending their money to reduce the amount of debt they had. Because people stop spending their money, the money in circulation diminished which made businesses become worse (Sobel 364). By October 1929, the stock market began to plunge. Finally on October 29 th - also known as Black Tuesday- the stock market crashed, making business and people lose all their savings that they had invested. Businesses went broke and people lost their jobs, which caused the unemployment rate to skyrocket. The crash of 1929 ushered in a depression. As soon as the depression hit America, President Herbert Hoover stepped in, promising America that the economic troubles would soon be over. His promises were no good. Instead of trying to bring his troubled country out of the depression, he only got America deeper into the depression when he signed the Smoot-Hawley Tariff Act of 1930, which put tariffs on foreign products. The tariffs became too high and other nations raised their tariffs on American
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products. Americans lost faith in President Hoover and began to believe that their country would never be restored. When the presidential elections came around in 1923. Americans were looked for a leader to get them through the hard times. Franklin Delano Roosevelt was that man. From the first time he came onto the election platform, he promised Americans that he would do his best to get them out of the depression and back on their feet. By time Election Day rolled around, Roosevelt “achieved a landslide victory. Out of the 39.7 million votes, he won nearly 23 million votes, 57.4% of the popular vote” (Burg 84). He had clearly won over the hearts of millions. Unlike most politicians, Roosevelt made a promise that he stuck too. Little did anyone know it, but he would become one of the most beloved presidents ever. On March 4, 1933, Franklin D. Roosevelt was sworn into office as the thirty- second president of the United States of America. In his inaugural address Roosevelt said “[t]his great Nation will endure as it has endured, will revive and will prosper” (Burg 315). Across America, millions watched and waited for their new president to take action and relieve them from the burdens that the depression had brought on them. During the
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This note was uploaded on 04/15/2008 for the course ENGL 1301 taught by Professor Mainka during the Spring '08 term at Wharton County.

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New Deal - "We [H]ave [N]othing to [F]ear"i:...

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