![]() ![]() New York and Illinois had ordered the closure of their banks in the hopes of avoiding further “bank runs,” which occurred when hundreds (if not thousands) of individuals ran to their banks to withdraw all of their savings. When Roosevelt took office, he faced one of the worst moments in the country’s banking history. ![]() At the outset of the First New Deal, specific goals included 1) bank reform 2) job creation 3) economic regulation and 4) regional planning. Most bills could be grouped around issues of relief, recovery, and reform. By the close of 1933, in an effort to stem the crisis, Congress had passed over fifteen significant pieces of legislation-many of the circulated bills allegedly still wet with ink from the printing presses as members voted upon them. What later became known as the “First New Deal” ushered in a wave of legislative activity seldom before seen in the history of the country. Much like a surgeon assessing the condition of an emergency room patient, Roosevelt began his administration with a broad, if not specific, strategy in mind: a combination of relief and recovery programs designed to first save the patient (in this case, the American people), and then to find a long-term cure (reform through federal regulation of the economy). Explain Roosevelt’s overall vision for addressing the structural problems in the U.S. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |