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Hoover Vs New Deal

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It was during the Herbert Hoover administration that the Wall Street stock market crashed on October 29, 1929, otherwise known as Black Tuesday, marking the beginning of the Great Depression. The period of the Great Depression resulted in mass unemployment, economic instability, and fear within the public as many thought suicide was the only solution. However, even though saving the nation seemed incapable, Franklin Delano Roosevelt was overall pretty successful at doing so in comparison to Herbert Hoover's laissez-faire approach to issues. Franklin Delano Roosevelt’s New Deal program called for relief, recovery, and reform and enacted policies to do so during the 100 Days Congress or his first 100 days in office. Relief was aimed towards …show more content…

The public feared that Franklin Delano Roosevelt had basically been given legislative power. During his first 100 days in office Franklin Delano Roosevelt passed an absurd amount of legislation; this included but was not limited taking the country off of the gold standard, declaring a national bank holiday, and establishing the Federal Emergency Relief Administration. Taking the United States off of the gold standard meant that the national currency would no longer be backed by the gold as the national gold reserves was rapidly going dry due to over speculation of stock market shares. However, many banks had to foreclose voiding people's life savings leaving them with nothing to withdrawal. In order to refill the nation's banks with currency, Franklin Delano Roosevelt declared a bank holiday for a few days. In return the Securities and Exchange Commission was passed limiting the amount of credit banks can give out, having the right to investigate the wrongdoings in the stock market. This creating a valuable connection between the national bank and the president. The Federal Communications Commission, which regulated the international connection by radio, television, wire, satellite, and cable, was also created under the Franklin Delano Roosevelt administration. In addition, Franklin Delano Roosevelt took control over the government depression by enacting the Federal Emergency Relief Administration. This alleviated …show more content…

This can be exemplified by the statement “An enormous outpouring of federal money for human relief and immense sums for public works projects started the flow to all points of the compass” stated by William Lloyd Garrison Jr., son of the William Lloyd Garrison who worked to free slaves during the 1800s, that was featured in The Nation newspaper in the article “The Hand of Improvidence” on November 14, 1934 (Document D). This was the due to the change in platform from promoting a laissez-faire government to a government that spent more money than they had in order to boost the economy under Franklin Delano Roosevelt’s New Deal plan. Due to the amount of programs that were spurred from Franklin Delano Roosevelt's New Deal plan, historians refer to them as the “alphabet soup” (Document C). Being that the farmers of the United States had been living in the depressing conditions since the early twenties, a lot of the programs were aimed towards bettering their situations. The Agricultural Adjustment Administration gave the government the authority to buy surplus crops with the payment to producers. This was done to simulate inflation within the consumer market. The Rural Electrification Administration and the Tennessee Valley Authority worked together to give electricity to rural farmworker regions. These

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