And What I Say

The Great Depression lasted from October 24, 1929 until the economic recovery of the 1940s. On October 29, Black Thursday, the stock market crashed heavily, and continued to fall sharply throughout the coming weeks. As a result, the United States and the world were thrown into a decade of poverty and unemployment. The depression affected all sectors of the economy. Farm owners and agricultural workers suffered from falling crop prices. Businesses failed from a lack of investment support and a decline in the ability of the masses to afford their products. Banks closed their doors as the nation's citizens hoarded their money and defaulted on loan payments. Unemployment and abject poverty enveloped the nation.

Herbert Hoover was President of the United Sates at the onset of the depression. His message to the people was one of continued belief in recovery, even in the face of worsening conditions. Though he eventually sparked some government action in an effort to curb the effects of the depression, he believed in the power of the economy to right itself without government intervention. The situation did not improve, and dissent grew throughout the nation. Hoover lost the presidency to Franklin Roosevelt in the 1932 election.

FDR quickly shifted from a stance of non-intervention to a government policy of regulation and relief. During the first hundred days of his presidency, he and his highly trusted advisors, known as the Brain Trust, created the New Deal. Marshalling a previ...