The prosperity and harmony which was prevailing in the United States of America during the 1920s came to an abrupt halt with the stock market crash in 1929. This was pursued by the Great depression. The great depression rendered people unemployed and endangered their jobs, investments, assets, farms, houses and other belongings. During 1930’s America suffered from the greatest economic depression of the history. It was unique in its sternness and the consequences. It shook the establishment of the western capitalism and prevailed through the 1930s.
When the depression was at its peak one worker in four daily lost his job. On October 24, 1929 a day came known as “black Thursday”. On this fateful day the stock market crashed and so did the economy. Unemployment increased on a rapid pace and millions of Americans became jobless and were out of money. The nation surrendered to one of the fiercest events of the history. Franklin Roosevelt was the governor of New York at that time and was well aware of the situation and the need to take some major steps about it. He won the elections and assumed presidency.
And soon after taking charge he spoke about the New Deal. Which he said could be a new and better start towards the improvement of America’s economy. He claimed that the New Deal program would solve all the problems and would successfully guide America during those dark times and would put a stop to the great Depression prevailing at that time. The new deal was considered a ray of hope during those dark and difficult times. Although the economic set back continued through the 1930s, the new deal lessened its impact to a great extent.
‘The new deal’ was a program launched by the US president Franklin Roosevelt from 1933 to 1939 of liberation, revival and restructuring. The new deal program’s main objective was to solve the ever rising economic problems of the United States of America during the great depression. The new deal aimed at motivating industrial recovery, help the people affected by the great depression, and take steps to avoid future economic crisis. Low employment rate, increasing unemployment, and the actuality that 20% of the schools going children were underweight and ill asked for desperate and prompt action. Franklin Roosevelt said
“Firm belief that the only thing we have to fear is fear itself–nameless, unreasoning, unjustified terror. “(1) This statement might have seemed quite ridiculous at that time. But there is a lot more to this saying of Roosevelt. He meant that as long as the whole nation would remain paralyzed by fear and not take any steps to help themselves, their condition won’t be improved. “The country needs and, unless I mistake its temper, demands bold persistent experimentation. It is common sense to take a method and try it. If it fails, admit it freely and try another. But above all else, try something! ” (2)
By this Roosevelt wanted to forge the message of action into his nation’s mind. He wanted to tell everyone that until and unless people wont work at improving their own condition and won’t make efforts for their own development they would never succeed. Many Americans looked up to Roosevelt and had great faith and confidence in him. They believed that Roosevelt could guide them during those times of despair and could help them in curbing the misery and pain they were in. Mr. Greifer, a spring valley, New York farmer wrote a letter to Roosevelt; which shows how highly some people thought about him.