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The Great Depression : The Crash, Burn, And Reparation Of The American Economy

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Daniella Jules
Professor R. Ascher
ECO2013
2 February 2017
The Great Depression: The Crash, Burn, and Reparation of the American Economy
Imagine that you received a huge bonus from your occupation that compensates almost $50,000 a year. You go to your bank to cash your paycheck, only to have the bank clerk disclose that they do not have your money. The financial institution went belly up, losing all the money within it because of external sources. This paper discusses the reason behind the Great Depression and distinct policies generated to mend the American financial system that began when the stock market crashed October 29, 1929.
Per the U.S. Stock Market Crash of 1929, there was “no indication of impending economic doom” until the
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To put it another way President Hoover’s political style only benefited the nation to an extent.
"I pledge you, I pledge myself, to a new deal for the American people” is what Franklin Roosevelt stated in his presidential campaign against President Hoover (Library of Congress 2017). He promised to the American people what they wanted to hear: hope in hard times. Unsurprisingly, in November 1932, Franklin Delano Roosevelt won the presidential election over Herbert Hoover by a landslide, receiving 22.8 million popular votes to Hoover’s 15.75 million (PBS 2017). President Roosevelt’s election is significant because it was a turning point for the nation during the Great Depression. Unlike Hoover, President Roosevelt was more liberal and politically focused on practices that would restructure the American government. President Roosevelt emphasizes this ideal by stating, “So first of all, let me assert my firm belief that the only thing we have to fear is…fear itself. Nameless, unreasoning, unjustified terror which paralyzes needed effort to convert retreat into advance (A&E Television Networks 2017).” He even proves this idea through the New Deal Programs produced, which not only was a combination of banking reform laws, emergency relief programs, work relief programs, and agricultural programs; but also, union protection programs and programs to service tenant farmers and migrant workers (Library of Congress
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