Saturday, May 23, 2020

The Impact of the New Deal on the United States Essay

The Impact of the New Deal on the United States The Great Depression, an era of great poverty, misery, and hopelessness, proved to be one of the most dreadful time periods in all of America’s history. During the Great Depression, dreams were lost and having a moderate amount of food everyday became a difficult challenge for many. Nonetheless, through the dark clouds, appeared the next president of the United States: Franklin Delano Roosevelt. By offering hope in his inaugural address, Roosevelt boosted morale and despair†¦show more content†¦In later days, Congress created the Federal Deposit Insurance Corporation in June1933. This reform insured each bank deposited up to $2,500 a day and consequently, banks gained more trust from their investors. As money once again started to fl ow, it helped stabilize the financial situation of the country. After achieving this goal without difficulty, Roosevelt issued an executive order to create the Farm Credit Administration. The purpose of this was to provide low interest, long-term loans to farmers. Farmers then paid off mortgages and overdue taxes, bought back-lost farms, and purchased the needed seed, fertilizer, and equipment. The outcome of this program was quite obvious; farming would once again flourish and thus, more food available for the American people. In April, Roosevelt asked Congress to create a similar program expect for non-farming personal. Congress without hesitation passed the Home Owners Loan Corporation. It addressed the problem to those who could not pay off their mortgage. By 1936 it saved at least a million American families by granting them low interest, long-term mortgage loans. Other programs established because of the New Deal, were aimed for many unemployed Americans. Roosevelt in May of 1933 encouraged Congress to establish the Federal Emergency Relief Administration, with half a billion dollars for relief aid to be given directly toShow MoreRelatedFranklin D. 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