On October 29, 1929 was called ‘Black Tuesday’ by American in American history. A lot of companies stock drastically increase in American stock market, and every American people all on cloud nine because of stock before. But a number of companies stock plummeted, and then people feel unimaginable and terrified on October 29,1929 , so American called it ‘Black Tuesday’. During 1929-1932 the US enter into The Great Depression after the ‘Black Tuesday’. Hoover served as the president of the United States during The Great Depression, and he listed some policies for The Great Depression. But these policies were useless, so FDR took Hoover’s place, also he made New Deal for The Great Depression. FDR became one of the most popular President in American. …show more content…
The New Deal had three prats that were ‘First 100 days’, ‘The First New Deal’ and ‘ The Second New Deal’. First 100 days: They concerned about ‘Tackle immediate problems’ and FDR published emergency banking act that provided the president with the means to reopen viable banks and regulate banking to fix banking problems. This act restored faith in the government, people deposited their money in the banks and money could be inverted to stimulate the economy. Another called emergency relief act that distributed 500 million dollars to states and localities for relief or for wages on public works. Federal agency would eventually pay out about 3 million dollars. The First New Deal : Focused create jobs. It created public works projects such as schools, roads, hospitals and dams. At this time, it provide some works that allowed the federal government to build dams and power plants in the Tennessee Valley, coupled with agricultural and industrial planning, to generate and sell the power, and to engage in area development. The TVA was given an assignment to improve the economic and social circumstances of the people living in the river basin for Tennessee Valley. The Second New Deal focused on improve welfare services. The main of ideas is Home Owners Refinancing Act : To establish the Home Owners Loan Corporation(HOLC) to refinance non-farm home mortgages. The New Deal made the U.S. economy back on