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Wall street crash.

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Introduction

Wall street crash After the Wall Street Crash in 1933 the American economy collapsed and fell into a state of depression. There were a number of problems in 1933 - all of which stemmed from the slump which followed the Wall Street Crash. The people in America needed immediate relief. A once strong and prosperous country had been reduced to a country living in poverty and grief. The Americans were not used to this type of life style and they were not prepared for it either. The Americans needed to be rescued from the depression and they needed it immediately. Also because of the depression, millions had lost their jobs and could not find work anywhere else. A solution was needed which would help working men & women . Because of the disastrous consequences that the depression had, welfare schemes were needed as a backup which would prevent and 'cushion� the effects of future depressions. ...read more.

Middle

Within the '100 Days� relief program, there was also a rapid program of legislation which would help solve the country's problems. were the AAA, & TVA and various other However not everything went as Roosevelt planned. Unemployment was down in the mid-1930s but it shot up again in 1938 which showed that Roosevelt�s solution was not permanent. However, unemployment went back down in 1940 because there was a great demand for war goods due to the problems arising in Europe. Farmers were also having problems. Their prices were better but the problems such as 'dust bowls� and poor crops were still there. The depression returned to America in 1937/38. Even though Roosevelt�s New Deal had some success, it had a lot of opposition. The republicans and the rich opposed the New Deal for many reasons. They opposed the increase in the power of the federal government over the states because they thought that the individual state leaders were being forced into using Roosevelt�s schemes. ...read more.

Conclusion

Long called for heavy taxation of the rich and in total confiscated over 5 million dollars. His 'Share our wealth� scheme, long claimed, would give each American family $6000 to spend. Even though Roosevelt�s New Deal had so much opposition, overall, it was still popular. Roosevelt aimed to please the poor and the working class and they all thought he was a saviour. His popularity was proved in the 1936 Presidential elections when he won with 61% of the votes. He was voted for again in the 1940 presidential elections. This shows that the public opinion was behind him The USA certainly did benefit from some of the schemes from the New Deal. Production rose from 1933 until the war in 1941 and unemployment fell rapidly. (There was a dip in both production and unemployment in 1937, but this was only temporary). However, the government had to borrow heavily to achieve this. The real recovery of the U.S. economy came with the Second World War. Because of war production, unemployment was at it�s lowest ever. ...read more.

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