Success of the Reforms of the New Deal During the Great Depression

The New Deal
Name:
Course:
Instructor:
Date:
The New Deal refers to a series of programs which were established by President Franklin D. Roosevelt during the Great Depression to aid in restoring prosperity to the Americans. After taking office, President Roosevelt implemented swift measures which were aimed at stabilizing the economy, providing jobs to the Americans and giving relief to the individuals who were already suffering. New Deal projects were instituted by the government with the intentions of restoring prosperity to the American people. This paper examines the successes of the New Deal projects which include stabilizing banking system, providing relief to the suffering Americans and reducing unemployment.
The first New Deal was aimed at stabilizing the collapsing banking system. To achieve this President Roosevelt declared a four-day banking holiday, during these days, people were banned from withdrawing their money from the already shaky banks. The President’s efforts were further supported by the Congress on March 9, 1933, after his Emergency Banking Act was passed, this Act helped in reorganizing the banks and the insolvent ones were closed. The Americans were also urged to bank their savings and before the end of that month, more than half of them had reopened.[The American Yawp, 2013. "23. The Great Depression: Franklin Delano Roosevelt and the “First” New Deal." Accessed February 15, 2019.] [The American Yawp Reader, 1936. "Franklin Roosevelt’s Re-Nomination Acceptance Speech (1936)." Accessed February 1...