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New Deal Dbq

1136 Words5 Pages

“The only thing we have to fear is fear itself” proclaimed a hopeful President FDR as he took the stage of the first inaugural address. Once the Great Depression gained momentum Americans lost hope that the country would return to prosperity. FDR’s public image of assurance and strength gave Americans much needed confidence that the Depression could be overcome. The conditions at the onset of the Great Depression caused a series of issues affecting the United States on both a domestic and worldwide scale. The Great Depression began with the Stock Market Crash of 1929. Only two months after the crash, stockholders had lost approximately $40 billion dollars. From that point on the United States economy was headed in a downward spiral. According to History.com, by 1932 about 13 -15 …show more content…

That was 25% of the current United States population. Because there were so few jobs, workers could no longer bargain for their working conditions. The average American could no longer pay for items bought through installment plans, so items were repossessed. Too much repossession led to surplus inventory. Without people to buy products industries collapsed. Because of business failure in the United States, government imposed a tariff on European goods in 1930. The tariff resulted in less foreign trade, creating some economic tension with other countries. Roosevelt was elected president in 1933 and sought to fix the problems presented by the Great Depression. Over the next 8 years government would implement a series of programs collectively known as Roosevelt’s “New Deal”. The New Deal was beneficial to the United States because it fulfilled its goals which were to: promote recovery, create jobs, and prevent another depression from

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