The New Deal :: American America History

The New DealThe New Deal was a political and social plan that was the presidential streamlet platform of Franklin Delano Roosevelt. Although Roosevelt was very vague about what it was and actual measures to be taken while running for president, the New Deal was the shinning hope for many Americans who had lost their jobs or were living in poverty. After the United States had plummeted into the greatest depression to face this country while Herbert Hoover lead the country, many voters were looking for anyone with a vivid plan and a bright outlook. As banks closed and unemployment rates soared, Roosevelt promised a balanced budget, and spoke of Hoovers rash and excessive spending. The election of 1932 was a landslide in Roosevelts favor, and he quickly took over as soon as he began his term. Roosevelt called a special session of Congress lasting from March 9 until June 16 in 1933. Roosevelt began to put his New Deal into action. With a democratic majority in Congress on his side, Roo sevelt churned out legislation rapidly from the generally marshy machine of Congress. Banks had been closing all over the country due to frightened citizens withdrawing all of their money. In order to increase trust in them, Congress passed the apprehension Banking Relief Act of 1933, which allowed the government to reopen closed banks, and regulate banking and foreign exchange. The Glass-Steagall Banking Reform Act was later passed in order to form the Federal squeeze Insurance Corporation, insurance to civilians for their banking deposits up to $5,000, which was later raised. These to bills encouraged the public to once again trust their banks, and to deposit money in the banks instead of hiding it on a lower floor their mattresses. Compared to the more than 4,000 bank failures of 1933, there were only 57 in 1934 because of these actions. The Agricultural Adjustment Act and the Home Owners Loan Corporation were both formed to religious service farmers and other households wit h paying their mortgages, as well as helping the mortgage-holding banks to stay in business. The Frazier-Lemke Farm Bankruptcy Act suspended mortgage foreclosures for three years, and go farmers with small amounts of poor land to better areas. Trees were planted in the deserted areas in an attempt to prevent soil erosion and block the wind.Moving on from this, Roosevelt decreed that all privately owned gold be turned in to the Treasury and to be paid back in paper money.