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The New Deal

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Introduction

History coursework Assignment two Luke Sanderson a) In 1933, the new president of America, Franklin D Roosevelt, introduced The New Deal. He did this because of America's economic depression at the time. For example, many banks went bankrupt in the Wall Street Crash. This happened because, during the economic many people got involved in the stock market, especially in speculation. This was where you would buy lots of stocks with a loan, then way for them to rise slightly, and sell them off again, making a quick and easy profit. Many banks got involved in speculation, but people started to lose faith in the stock market, so everyone started to sell their shares. This meant that there were much more sellers than buyers which meant the whole system crashed. This caused banks to go bankrupt, along with everyone's money that were in those banks. This caused people to withdraw their savings from banks, causing even more to close down. Also there was the weakness of the US economy. After the boom, there was a strain on the consumer goods being bought, and other such things. The companies that sold cars and other luxuries were now producing more than they could sell, and the majority of the American population could not afford to buy them. ...read more.

Middle

There were four agencies, which dealt with the unemployed. The Civilian Conservation Corps, The Works Progress Administration, The Public Works Administration, and the Social Security Act. The WPA brought together all the organizations trying to create jobs. It tried to create jobs for the unemployed actors, artists and photographers. The government would pay artists to make posters promoting them. The CCC was aimed at young men. They were able to sign on to it for a period of six months, and renew if they were still unable to find work. About 2.5 million people were helped through this scheme. The PWA was setup to build schools, roads, bridges etc. in the short term this created millions of jobs. The SSA gave state pensions to the elderly, and to widows. It setup an unemployment insurance scheme, workers would give a small amount of money, which then could be used to help anyone who became unemployed. Agencies setup to help industry, and companies were, the National Recovery Administration, and the Wagner Act. The NRA factory workers, and got rid of child labor. It made fair wages and setup production levels that were not too high. This scheme was voluntary, but over two million workers joined it. The WA forced workers to become of a trade union for better wages and working conditions. ...read more.

Conclusion

However, The New Deal did have many upsides to it when it was first introduced. Firstly, the failure with the banks was resolved, Roosevelt got people to have confidence in having their money in banks, again. Also, the New Deal created millions of jobs, practically solving unemployment for several years. In the process of creating jobs, many useful resources, such as roads and schools were built. As by making people build these things it was creating jobs for people to do, and get paid for. The black Americans had been hit very hard by the depression, but, The New Deal CCC helped the black Americans gain benefits and other Agencies helped them improve the quality of life by improving housing conditions from slums to proper houses. I think that on the whole, The New Deal was actually a good idea, and a short-term success. This is as, at the time, America was in such a state, that something had to be done. This meant that at the time Roosevelt solved so many problems that Hoover was just unable to deal with. This means that though The New Deal may not have stayed a success, it started a success as was much better than not doing anything and leaving America in a huge depression. Also, at the time there was probably no better thing that anybody else could have come up with. ...read more.

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