FDR And New Deal: The Stock Market Crash 1929

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History 162
Professor
Date
The stock market crash 1929 destroyed the confidence in the wall streets of America and led to the great depression .In the 1920s America went mostly from being republican to being democratic after America had become more urban and the great depression. Franklin Roosevelt formed a collation called the new deal coalition. Many things changed as a result of the formation of the coalition. For example urban areas became more democratic. Franklin Roosevelt new deal permanently transformed America and significantly realigned the country’s political parties. The FDR and the new deal transformed America through the following ways.
Franklin Roosevelt served as a president from 1933 to 1945. A foundation of prosperity and stability was laid since America was able to stay away from economic, social, and through the implementation of innovative polices established by the FDR. Both new and authoritative roles were presumed by the American federal government in the nation’s economy in health, corporate, welfare and the well being of the American citizens. Unions were granted the right to organize and bargain cooperatively by the federal government. The 1938 act established a method of putting evaluating salaries and wages which continues to date. The unemployed and the aged were given financial assistance by the government because the aged were no longer able to work and the employed were not able to cater for their needs. The new deal also assisted the agricultural sector in America by supporting the prices and development programs. The government presumed the responsibility of assisting to smoothen the problems and challenges experienced in the economy. In the agricultural sector the farmers agreed to limit their acreage in production in line with national income to drive agricultural priced received monetary payments from the government. The FDR created many job opportunities for the citizen like the PWA and the agricultural adjustment act helped the farmers and controlled their prices as well. The supply and production of crops of crops and livestock was much higher than the demand of the product, the prices dropped as a result.
The new deal had a great impact on the banking and finance sector in the country. The FDR’s immediate task was to alleviate the country’s banking system. On March the president declared a national bank holiday in order to stop depositors from seeking to withdraw money from the waning banks. The president also introduced a proposal where by the federal government was to scrutinize all banks, re open the banks which were currently...