The Vision of Frankilin Roosevelt

Throughout the history of the United States, there have many events that have challenged Americans to rise above the stronghold of catastrophe. None had been more challenging than the Great Depression of the early 1930s. Never had such a vast spread of unemployment and poverty taken place on such a national scale. Although during the Great Depression, relief seemed insurmountable, President Franklin Dellano Roosevelt helped America find a way out of economic turmoil. The steps that Franklin Roosevelt took in order to enhance the failing economy, and the inspirational opportunities that he granted to Americans single handedly ascended the United States out of the Great Depression.

The principle cause of the Great Depression was the national banking crisis. This was the first task that Roosevelt and his cabinet tackled. Because of the failure of many banks across the country, investors became weary and they soon lost confidence in private banks. President Roosevelt, with the help of government aid, bailed out the majority of American banks using government funds. He also placed new policies for banks in the way which they could be operated. Many banks adopted the policy of FDIC, which insured bank investments up to a certain amount of money. Because of this, investors became more confident in putting their savings in the hands of federally assisted banks. Also, as people began to invest in banks, banks were able to give out loans. These consisted of loans for farm mortgages, home mortgages, railroad and home insurance and loans for home owners as a whole. With the help of bank loans, small businesses again began to form across the United States. Although the banking crisis had seemed resolved, many Americans were still bitter about the stock market in which they had lost millions of dollars. Roosevelt put the Security Exchange Act in place strictly for this reason. The Act put new securities on the stock market while also creating stock speculation to ensure the legitimacy of companies. This giant first step not only gave Americans trust in their banks, but regenerated small businesses to help resurrect the economy.

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During the Great Depression, there was a long list of relief programs to provide jobs and income for unemployed Americans. The major agency set up by the government was the NRA, or the National Recovery Administration. The NRA made it possible for fair business competition across American industry. Under these codes, the troubles faced in the workplace were wiped out. Child labor for one had now been eliminated, creating a better opportunity for those that had been unemployed and for children that had been treated unfairly. The President also approved a minimum wage in the workplace. Minimum wages had slowly ...

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