The Pros And Cons Of The Great Depression

Good Essays
What was the immense hardship that America had to face in the late 1920’s and 1930’s? If you guessed the Great Depression, then you are correct! There had been many depressions in U.S history but, the depression between 1929 and 1939, had significantly affected the American lifestyle. This Great Depression was caused by bank failures, individuals stopped purchasing items, the dust bowl, and the decrease in foreign trade. The Presidents during this timeframe were Herbert Hoover and Franklin Delano Roosevelt. They both had their strategies to get America out of the depression.
First and foremost, The Great Depression was caused by a combination of domestic and worldwide conditions. The start of the crisis began with Stock Market Crash of 1929.
…show more content…
Fast-forward to the end of the day and he is left with nothing but the clothes on his back. This nightmare was happening too many Americans and because of this unemployment and the number of homeless skyrocketed in the millions. With so many homeless, people resorted to creating towns, which were made from scraps. These were called Hooverville’s. The American people seemed hopeless and didn’t believe President Hoover was doing anything to fix the problems. To the people, Hoover was to blame and America wanted a…show more content…
President Hoover handled the Great Depression with various measures to help stimulate the economy and some programs he introduced became crucial relief efforts. Nevertheless, Hoover’s response to the crisis was constricted by his conservative political philosophy. He believed in a limited role government and he feared that immoderate federal intervention posed a threat to capitalism and individualism. The reason why American people blamed President Hoover was because he vetoed several bills that would have provided direct relief to struggling Americans. In the 1932 election Hoover was crushed by Franklin Delano Roosevelt. As the new President, F.D.R promoted his new deal, which would eventually lead America away from poverty. He declared a four-day bank holiday to stop people from withdrawing their money from unstable banks. F.D.R’s Emergency Banking Act was passed by Congress on March 9th, which adjusted the banks and closed the unstable ones. The people started trusting the banks and having more confidence. The New Deal provided millions of jobs, gave benefits to the retired and unemployed. Workers’ rights were improved thanks to the Wagner’s Act. Although the New Deal had many strengths it did have its weaknesses. It gave the federal government more power, the spending for the programs he introduced was costly. President Roosevelt’s New Deal did not get us out of the depression, but
Get Access