How successful was Roosevelt in solving the problems facing the USA in the 1930’’s?

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How successful was Roosevelt in solving the problems facing the USA in the 1930''s?

During the 1928 elections America was at the core of its boom and the Republican candidate Herbert Hoover was facing the Democratic Al Smith. The Republicans had been in power during the boom and were seen as the people who had made it happen. Al Smith was a "wet" (anti-prohibitionist) and a young city boy as opposed to Hoover who was much older and a dry" (pro-prohibition). Inevitably Hoover clinched a landslide victory and put the Republicans in power for a second term.

However on October 24, 1929 ("Black Thursday") prices in the New York Stock Exchange fell by astonishing amounts. This led to the market collapsing five days later. Many investors tried to sell what shares they could in order to retrieve some of their money but the markets were valueless. The instant collapse was bought about by an unconfirmed speculation that there were problems in the financial sector. Many investors who had borrowed heavily from banks to invest and take advantage of the booming stock market had lost all and were unable to repay and debts. Many investors lost what little confidence they cherished and were unwilling to continue to invest. This led to the remainder of factories closing and unemployment increasing.

By 1930 four million people were unemployed in America, this increased to six million in 1931 and twelve million in 1932. The production rates had reduced sharply too. America did not have any scheme of unemployment insurance or social security and people began o turn towards charities to help them. "Breadlines" became popular and many people would cue for hours in order to receive the charity of some bread and some soup.
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Homelessness was a major result of the high numbers of jobless people, as many could no longer afford to pay for their rent or mortgages. As a result many people took shelter in car parks and train stations or as tramps. There was also an affect on the farming industry that could not sell any of their produce and thus were unable to profit from their works. In turn after not being bale to pay their rents or mortgages they were also thrown out.

Banks had been introduced to people during the boom and many people ...

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