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The New Deal and the wall street crash

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New Deal Wall Street crash severally affected the U.S economy, immediately after the crash there was down turns in spending, which in turn lead to the closing down of many factories and farms. Those who had borrowed money to by shares in the first place had no money to pay the bank back, which soon lead o the closing of hundreds of banks all over America, in 1929 659 banks failed, in 1930 1352 banks failed and in December 1930 the United States bank in New York went bankrupt. This caused panic all over the U.S and everyone no longer trusted banks, people started to withdraw all of their money and store them in safety deposit boxes or at home, this lead to a further 2294 banks to go bankrupt in 1931. People were no longer spending money. ...read more.


promising action which he knew was what the U.S people wanted from their government, he had plans to use public money to get people back to work, as being the governor of New York he had already started doing this in his own state, and unlike Hoover Roosevelt was not afraid to ask for advise on important issues from experts in that area. He went on a 20,800km campaign on which he gave a large number of speeches which in turn lead to him winning the vote by 7million. In one of his campaign speeches Roosevelt stated 'I Pledge myself' this promise showed that he truly did care about the American people. He is giving himself to the country. This was much different to Hoovers approach as Hoover did not do everything in his power to help his nation because he had too much pride to admit he was wrong or to ask for help. ...read more.


come from Europe when in actual fact they had come from U.S.A, 'despair', is the desperation of all people in America who are scrounging for food, water, clothes and somewhere to live, finally by 'with confidence we accept' Roosevelt was showing his confidence and the enthusiasm he has to get America back on its feet and shows his determination to do it. The tree main reasons why Roosevelt was elected President were the following; * The previous President Hoover had done nothing at all to help the situation in America therefore the people wanted someone who would save them. * The depression. If this had not happened then the people of America would have being fine with President Hoover as he was just letting everyone get on with it. * His personality. Roosevelt was always very energetic and always full of confidence which people were looking for in a president as it gave them security. Kellie Moore-Mulveen ...read more.

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