winkler part 2(4-6)

winkler part 2(4-6) - I. The first hundred days chapter 4...

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I. The first hundred days chapter 4 a. the time between winning the election and taking office was four months, and in this time, the conditions deteriorated even further i. national income was half of what it was before the depression ii. unemployment reached 13 million iii. stock market crash had wiped out the assets of many large investors iv. many small investors lost there money v. no end to the depression in sight vi. the big question was “what would Roosevelt do?” b. hoover was disappointed in his loss, and tried to maintain some semblance of power by attempting to advise Roosevelt i. hoover continued to believe that the depression was not a result of US economics but had arrived from overseas c. Roosevelt brought new ideas to the table as far as the depression was concerned i. He listened to hoovers opinions politely, but was reluctant to help 1. Hoover was pissed, hardcore, and wrote him a huge letter enumerating public doubts about his presidency a. Doubts about commitment to balanced budget b. Fears of a possible “dictatorship” (yes I used quotes again Trent) c. Hoover was trying to leave the shadow of republican power over the white house by getting Roosevelt to support the so called new deal d. Roosevelt had no intentions of associating himself with the policy ii. Roosevelt selected a cabinet of financial advisors who could aid him in solving the economic issues of the country d. During this waiting period, Roosevelt was lucky to survive an assassination attempt in florida i. The president was not hit by any of the five bullets e. Banks continued to fail i. Investors still feared financial collapse and many withdrew there money ii. Governor of Nevada declared a bank holiday to prevent the system from completely falling apart, Michigan, and then Maryland followed
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iii. By the time of inauguration 38 states had closed there banks f. Roosevelt steps up i. Inauguration day, before he was even inducted he met with a board of advisors to discuss the banking issue, ii. The speech he delivered was a vivid contrast to the dismal pronouncements that hoover had been making for the past 3 years iii. He gave the famous, “we have nothing to fear but fear itself” line , which was an instant classic iv. Said he would do whatever was necessary to end the depression v. Most of all he restored hope to the country
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winkler part 2(4-6) - I. The first hundred days chapter 4...

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