Friday, December 8, 2017

Great Depression


This was considered one of the most damaging eras for the United States economy. It lasted ten years from, 1929 - 1939. The main reason for the dramatic downfall of the economy was because of the crash in Wall Street. Since Roosevelt was the President at the time, he was trying to do anything and everything to in his power to improve the devastation that was hitting his country at the time. During his reign, the Social Security Act was passed which was to help the citizens of the United States of America with unemployment. During this time, there were multiple “bank waves of panic”, which created more tension between the government and the bank association. On the day of Roosevelt's Inauguration, every state bank in the country ended up closing. The workers of the banks and residences did not get paid because of the lack of money that the government workers had.

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1 comment:

  1. AnonymousDecember 8, 2017 at 7:54 PM

    Besides the Social Security Act, FDR passed many other acts as part of his New Deal to help the United States out of the Great Depression. Some of the most noteworthy acts include the National Industrial Recovery Act (NIRA) that was the centerpiece of the New Deal's efforts and was designed to increase production while boosting wages and prices; the Agriculture Adjustment Act (AAA) that tried to aid farmers by reducing crop production and raising prices; the Wagner Act that guaranteed workers the right to self-organization, to form, join, or assist labor organizations, and to bargain collectively through representatives of their own choosing; and the Fair Labor Standards Act that regulated conditions in the workplace.

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