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Franklin D. Roosevelt
The Great Depression

Do you believe Franklin Delano Roosevelt did the best thing for America by introducing the first and second New Deal?

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Answered 2015-07-15 21:44:12

I think Roosevelt did do the right thing... he actually did something about the problems in America, unlike Hoover. He took the initiative to set up agencies (alphabet) and help the USA. I dont however, belive that Roosevelt eased USA out of the depression, WWII did that.

But yes, i do belive that was the best thing, especially compared to hoover and his rugged individualism ideologies.

No he did not. He was a big socialist just like the Democrats are today. By growing government Democrats have almost ruined America and have driven us toward socialism in a great way. The economy should be a free market economy without any government interference just as our founding fathers intended.We ought to kick every last one of these Bolshevick Democrats out of the hallowed halls of congress!!

Anon Anon is forgetting that lack of government control in the free market is what led up to the Crash of the Stock Market and the Great Depression. In addition, unruly monopolies are created when there is no government interference in the market. Had "Anon Anon" attended History class, he would've known.

THE FIRST 100 DAYS

Roosevelt entered office at a time when fear and panic had paralyzed the nation. In a famous passage, historian Arthur Schlesinger described the mood at FDR's inauguration: "It was now a matter of seeing whether a representative democracy could conquer economic collapse. It was a matter of staving off violence -- even, some though -- revolution."

FDR's natural air of confidence and optimism did much to reassure the nation. His inauguration on March 4 occurred literally in the middle of a terrifying bank panic -- hence the backdrop for his famous words: "The only thing we have to fear is fear itself." The very next day, to prevent a run on banks, he declared a "bank holiday," closing all banks indefinitely until bankers and government could regain control of the situation. The term "holiday" was meant to give a festive air to what was actually a desperate situation, but such was FDR's desire to provide hope to the nation.

The Emergency Banking Bill, which strengthened, reorganized and reopened the most solvent banks, was passed overwhelmingly by Congress with little debate. On March 12, Roosevelt announced that the soundest banks would reopen. On March 13, deposits at those banks exceeded withdrawals -- a tremendous relief to a worried nation. "Capitalism was saved in eight days," said Raymond Moley, a member of the President's Brain Trust.

The bank holiday was a vivid example of the effectiveness of government intervention in an economic crisis. Hoover had allowed two previous bank panics to run their course, which contributed to over 10,000 bank failures and $2 billion in lost deposits. The bank holiday secured Roosevelt's political reputation, and convinced both Congress and the public that the New Deal was the right road to follow.

Roosevelt's strategy consisted of two parts: first, provide relief for those who needed it most, which often involved a redistribution of wealth from the rich to the poor. Second, provide long-lasting reform to the nation's economy, through reorganization and the creation of new agencies. Most of Roosevelt's policies can be described as "taking from one pocket to put in the other." Fixated with a balanced budget, and fretful when it was not, Roosevelt made sure that anything given to one sector of the economy was taken from somewhere else. He did not accept Keynes' recommendation to begin heavy deficit spending, and did not do so until the threat of World War II forced him to.

Roosevelt's legendary "First 100 Days" concentrated on the first part of his strategy: immediate relief. From March 9 to June 16, 1933, FDR sent Congress a record number of bills, all of which passed easily. These included the creation of the Federal Emergency Relief Administration, the Civilian Conservation Corps, the Reconstruction Finance Corporation, and the Tennessee Valley Authority. Congress also gave the Federal Trade Commission broad new regulatory powers, and provided mortgage relief to millions of farmers and homeowners.

The success of the First 100 Days was important, because it got the New Deal off to a strong and early start.

If Roosevelt had not passed his agenda early, we would probably be without many New Deal programs we take for granted today. ______________________________

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Also, I agree that the New Deal(s) did not pull the United States out of the Great Depression, but was the correct step in the direction of success.

________________________________

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