The Great Depression of 1933: A Tale of Woe and Loss - Essay Sample

Introduction

The nation in the early winter 1933, economic depression had endured all over resulting in maximum suffering within three years. However, according to different researchers concerning the situation, statistics revealed that the depth of the Great depression was staggering. Many losses during those days were experienced where banks had failed resulting in destructions of the savings that were maintained by depositors. Millions of hundreds of people had moved away from work in search of jobs while others were hardworking at jobs that barely provided subsistence food only. The value of currency during that time dropped where erosions of farm markets were experienced and deflationary spiral that took part lead to continued tightening.

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However, at the time of the previous summer, the Democratic Party had set a plan for ensuring that there was economic recovery. During this time, the platform formed was referred to as "contract" and more so took part in setting a series of provisions to remedy that economic disaster that had affected the United State. However, Franklin Roosevelt came up with different visions which included; preparing nation in the acceptance of federal power (Schlesinger, 2017). This was done when he made a recognition that he had thought of introducing congressional legislative action to relieve dire effects of the great depression that were unprecedented during peacetime phase (Mitchell, 2017). During the year 1933, an inaugural address Roosevelt provided that "Constitution was so simple and easily applicable and through it, changes were needed in the United State". A later time, Roosevelt was elected as president since they believed that he will combat Great depression more effectively than his republican opponent. His promises attracted civilians and thus at the later time, He was elected.

Moreover, he faced many challenges in his ruling and decision making was financial instability, political wrangles from the opponent party, economic fluctuations and that issue that was previously present of Great depression (Myrdal, 2017). However after all challenges that Roosevelt, there was an introduction of The New Deal which was stated as a plan that was consecrated during the mid-20th era to ordain financial reform, economic provision and also direct relief. The depositions above were able to constitute a modernized foundation of true financial reformation and economic stability despite current financial status in the nation. The New Deal mode has already been depicted as a vital approach to the nation's by 32nd president of America.

References

Mitchell, B. (2017). The Depression Decade: From New Era Through New Deal, 1929-41: From New Era Through New Deal, 1929-41. Routledge. Retrieved from https://content.taylorfrancis.com/books/download?dac=C2014-0-41110-4&isbn=9781315496733&format=googlePreviewPdf

Myrdal, G. (2017). An American Dilemma: The Negro Problem and Modern Democracy, Volume 1. Routledge. Retrieved from https://www.taylorfrancis.com/books/9781315082417

Schlesinger Jr, A. M. (2017). The Vital Center: Politics of Freedom. Routledge. Retrieved from https://content.taylorfrancis.com/books/download?dac=C2017-0-53423-0&isbn=9781351301794&format=googlePreviewPdf