Roosevelt And The Great Depression

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The U.S. Presidential election of 1932 was with Franklin D. Roosevelt and a crushing defeat of Herbert Hoover in the elections. The country was still going through a really tough economic time which shocked the nation heavily, worldly known as the Great Depression. The Depression left the country broken with thirteen to fifteen million Americans out of work that’s more than twenty percent of the nation’s population. Herbert Hoover believed that the government should not intervene directly with the economy and how it didn’t have the responsibly to create jobs or provide economic relief for the citizens. The public needed confidence from their President so Roosevelt would address the public directly over the radio in a series of talks and these “fireside chats.” When Roosevelt won the Presidential election, he took immediate action to address the country’s economic downfall by first announcing a “bank holiday” during by which all banks will be closed so that the Congress could pass legislation and then reopen those banks. But during Roosevelt’s first one-hundred days in office, his administration passed a legislation that was aimed to stabilize the agricultural and industrial production which created jobs to stimulate recovery for the nation. Roosevelt also created the Federal Deposit Insurance Corporation (FDIC) to protect the depositors and their deposit accounts and also the Securities and Exchange Commission (SEC) to regulate the stock market and to prevent the abuses that led to the 1929 economic crash which all of this came from the New Deal that came to aid in the recovery from the Great Depression. The President helped come up with all kinds of job ideas and organizations to help the nation. Roosevelt also had help from the... ... middle of paper ... ...ff, eight American servicemen were killed in the incident and then soon lead to the abort of the Operation Eagle Claw mission. Carter’s inability to handle the hostage crisis made with look weak and an ineffectual leader which some may believe that’s what may have costed him the election. During the crisis the media had constant coverage on the hostages in the U.S. served as a demoralizing backdrop for the 1980 presidential race. Circulated rumors that was said that Reagan’s campaign staff negotiated with the Iranians to be sure that the hostages won’t be released before the election, of course Reagan denied these allegations. If these rumors were to be true, Carter would have been given a crucial boost to his campaign. The hostages were in captivity for four hundred and forty four days, but hours after Ronald Reagan’s inaugural speech the hostages were released.
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