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  • Essay / The Pros and Cons of the Great Depression - 735

    President Hoover handled the Great Depression with various measures to stimulate the economy and some programs he introduced became crucial relief efforts. Nevertheless, Hoover's response to the crisis was limited by his conservative political philosophy. He believed in the limited role of government and feared that immoderate federal intervention would pose a threat to capitalism and individualism. The reason Americans blamed President Hoover is because he vetoed several bills that would have provided direct relief to struggling Americans. In the 1932 election, Hoover was defeated by Franklin Delano Roosevelt. As the new president, FDR promoted his new deal, which would ultimately lift America out of poverty. He declared a four-day public holiday to stop people from withdrawing their money from unstable banks. FDR's Emergency Banking Act was passed by Congress on March 9, which adjusted banks and closed unstable ones. People started trusting and trusting banks more. The New Deal created millions of jobs and provided benefits to retirees and the unemployed. Workers' rights were improved thanks to the Wagner Act. Although the New Deal had many strengths, it also had its weaknesses. This gave more power to the federal government, spending on the programs it introduced was costly. President Roosevelt's New Deal did not get us out of the depression, but