Why did Roosevelt win the 1932 election?

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Why did Roosevelt win the 1932 election?

In this essay I am going to explain why Franklin D Roosevelt won the presidential election campaign in 1932.

        In1928 there was a presidential election. Herbert Hoover was the Republican candidate, he won by a landslide victory and all seemed well. One of his first statements as president was ‘we in America are nearer to the final triumph over poverty than ever before. The poor man is vanishing from among us’. However Hoover couldn’t have been more wrong because in October 1929 the Wall Street Stock market crashed. The American economy collapsed, and the USA entered a long depression that destroyed much of the prosperity of the 1920’s.

        For sometime in America during the 1920’s share prices had been increasing due to the economic boom and they were being sold to many Americans. The boom was based on the increased sale of consumer goods such as cars or electrical appliances. The market for these goods was largely the rich and middle classes. But by 1929 those who could afford the consumer goods had already bought them and they didn’t need to buy them again. American industries were starting to produce more goods than they could sell. In the past, American industry would have tried to export its surplus goods, but people in Europe could not afford the American goods either. In the summer of 1929 sales started to slow. In June 1929 the official figures for industrial output showed a fall for the first time in four years. Speculators on the American stock exchange became nervous about the value of their shares and started to sell them. Throughout September and October even more people started to sell shares. Many investors had borrowed money to buy their shares and could not afford to be stuck with shares worth less than the value of their loan. Soon other investors sold their shares and within days panic set in. On Tuesday 29th October 1929 there was a complete collapse in the American stock market. People lost not only their investments but also lifelong savings because they were not able to pay back their loans to the banks and insurance companies so they went bankrupt. Everyone started to withdraw money from their banks, which made things even worse as this caused many bans to go bankrupt. The 'Boom' was now over and depression had come.

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The Crash has terrible consequences over twelve million Americans were unemployed and over one million of these people could not pay off their mortgages and were therefore homeless. The homeless people lived shantytowns in ramshackle huts; they named these towns 'Hoovervilles' after President Hoover. In every city workers who had contributed to the prosperity of the 1920’s now queued for bread and soup dished out by charity workers. Families hoping to scrape a meal from the leftovers of more fortunate people crowded the rubbish tips. Farmers were hit particularly hard by the depression, because the 1920’s had not been good ...

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