Was The New Deal A Success Or Failure Essay

In the 1920’s many Americans relished in post-war prosperity. However, in 1929, the stock market crashed, and the Great Depression began. This period of time had many effects on people and businesses. With banks closing their doors and people having to sell their belongings to live, it became a depressing period. Years later, in 1932, President Franklin D. Roosevelt was elected. Known today as the New Deal, he quickly instituted a series of programs, public works projects, and financial reforms. FDR’s ultimate goal was to restore dignity and prosperity to many Americans. Many people benefited from the changes made in the economy because of how much suffering occurred prior. For this reason, the New Deal was a success because a rise of job openings occurred, the way of living for Americans improved and it meant that Americans

No one felt comfortable depositing money into banks that had gone bankrupt. However, the New Deal was actually a success because it provided refundable money if there was ever another crash. It also created social security for employees in the country. The corporation created to promote Americans to deposit was the FDIC (Federal Deposit Insurance Corporation). This corporation was part of a bill created by FDR in the Congress Banking Act of 1933. It expressed that individual bank deposits were refundable up to $5,000 ($250,000 now) at the time if the bank were to lose all of its money. The people of America loved the idea and what the Act had to offer. In source c, George Dobbin a 67 year old cotton mill worker said that “I do think that Roosevelt is the biggest-hearted man we ever had in the White House... It's the first time in my recollection that a President ever got up and said, "I'm interested in and aim to do somethin' for the workin' man.” This proves that FDR’s creation of the New Deal, was very much so supported by the working class in a strong