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New Deal Dbq

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The Great Depression in the United States began on October 29, 1929, plunging the country into its most severe economic downturn. Speculators lost their shirts; banks failed; the nation's money supply diminished; companies went bankrupt and began to fire their workers in droves. President Franklin Roosevelt took office in 1933, and he acted quickly to try and stabilize the economy, provide jobs and relief to those who were suffering. Over the next eight years, the government instituted a series of experimental projects and programs, known as the New Deal, that aimed to restore some measure of dignity and prosperity to many Americans. More than that, Roosevelt’s New Deal permanently changed the federal government’s relationship to the U.S. …show more content…

As President Hoover was in office, as well as when he left office, banks were failing across the United States. President Roosevelt and Congress immediately passed legislation to solve the banking crisis. Roosevelt closed all the nation's banks so that the Federal Reserves could help strengthen them and restore confidence in the banking system. This resulted in the creation of the Federal Deposit Insurance Corporation, also known as the FDIC. This was used as a way for the government to guarantee savings deposits for all Americans. This also increased the number of people that trust banks to hold their money. When banks failed, the FDIC guaranteed all Americans up to $250, 000 of their savings if lost to prevent future banking "panics". Another example of FDR's reform programs was the SEC, or better known as the Securities and Commissions. The SEC was structured to regulate Wall Street and the stock market exchange. This agency was created to prevent fraud and abuse in the stock markets by banks and corporations. It is also used to enforce regulations to protect investors from illegal activities. President Roosevelts reform acts modified the United States government to restrain its economic health. These programs provided a way for the government to establish a hands-on system that was beneficial to all

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