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The Pros And Cons Of The New Deal

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Beginning in the 1920s, The United States entered an economic decline due to a vast amount of debt, leading the rich to become richer and the poor to become poorer. With the addition of the stock market crash in 1929, the country fell into a state of dismay known as the Great Depression. Despite economic collapse, Franklin Delano Roosevelt was able to create the New Deal to provide relief to the major issues which the Great Depression brought about through the revaluation of banks, enactment of several new associations, and numerous projects known as New Deal Programs, all of which helped to better the economy and country to this day.
In 1928, before the crash of the stock market, an election occurred where Herbert Hoover became president. …show more content…

Roosevelt's first act went into action in what is known as “The Bank Holiday” which took place in March of 1933, where he hired teams of people to evaluate every bank within the United States and declare whether they were fit to stay open, needed government assistance, or were destined to go into foreclosure. This banking initiative was part of a period called “The Hundred Days” lasting from March 9 to June 16, 1933, where Congress passed over fifteen articles of New Deal legislation including one that expanded the federal government's role in the economy. When the Hundred Days were over, people began to trust the banking system again, putting their money back into the banks and solving the problem of financial reform. While most of the United States population had been given hope of an end to the Great Depression because of the New Deal, it only solved one of the three main problems, leading to the creation of The Second New Deal in 1935 and The Second Hundred Days. In 1936, another presidential election was held, but this did not deter Roosevelt from taking action, his strong ambitions and initiative winning him an overwhelming majority of the vote. With his continued presidential power, Roosevelt began to focus on relief programs, extending help to people such as farmers, sharecroppers, migrant workers, and other poor families. The Farm Security Administration was created which loaned over one billion dollars to help farmers become landowners and make housing for migrant workers. The Second New Deal also helped to create the Works Progress Administration which had the goal to create as many new jobs as possible to get people to be able to provide for themselves without government assistance. In 1935, the Social Security Act was passed that provided insurance for people

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