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The new deal Essay

  • Submitted by: pyrochicka35
  • on December 7, 2008
  • Category: History
  • Length: 988 words

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Below is an essay on "The new deal" from Anti Essays, your source for research papers, essays, and term paper examples.

The 1930’s was the time when the culture in America really began to take shape.   The Great Depression affected the lives of every American.   The lack of government regulation left many people unemployed as well as, working in horrible conditions.   Many Americans had become fearful of banks because of the growing economic panic.   President Franklin Roosevelt tried to help the banking crises as we all the American people to regain economic strength and civilization.   In response to the Great Depression, the New Deal helped the nation regain economic strength and place Americans back into the workplace.  
Franklin Roosevelt strongly favored government regulation and was the main force in re-shaping America after the Great Depression.   Since Americans quickly withdrew their savings from the banks, because of economic panic, many of the banks began to fail.   In 1933, Roosevelt called Congress into session and temporarily closed all national banks for four days.   During that time he proposed the Emergency Banking Act which provided Government support for private banks.   The act allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive.   Within 300 days of the act's passage, 5,000 banks had passed inspection and were reopened. Roughly two-thirds of U.S. banks quickly reopened under this act, and faith in banking institutions was somewhat restored.   The Emergency Banking Act as well as the Federal Deposit Insurance Corporation helped regain the economy. The Federal Deposit Insurance Corporation provides deposit insurance which guarantees the safety of checking and savings deposits in member banks.   Currently our Economy has been going through another crisis where banks were not regulating the money that they were lending out and many companies had to be bailed out by the Federal Government.   Roosevelt helped the economic crisis after the Great Depression by regulating and evaluating the strength of the banks and...

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The new deal. Anti Essays. Retrieved December 15, 2018, from the World Wide Web: http://cassandralynndesignllc.com/free-essays/New-Deal-25379.html