The New Deal Essay

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In the 1930’s, the United States fell into a great depression because of a major stock market crash that destroyed the economy for many years. When the 1933 election came, a new president was elected; Franklin Delano Roosevelt. His plan was to create a New Deal to solve the Nation’s problems. This New Deal relieved much economic troubles in the country, gave faith to American citizens in the United States’ banking system, and gave jobs to millions of people unemployed by the crash. Without President Roosevelt’s actions, the road to the nation’s recovery would be much longer. One thing the New deal helped improve was the nation’s banking system. Roosevelt created a “Bank Holiday” that closed all banks on March 6th. Congress passed the Emergency Banking Act on March 9th, allowing government officials to check every bank’s financial records, and only reopen the banks if they were in a stable condition. Because of these acts, in one day alone, half of America’s banks reopened restoring 90 percent of the nation’s total deposits. According to the “New Deal” article from WorldBook.com, thi...

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