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Roosevelt

Roosevelt

After the Wall Street Crash in 1933 the American economy collapsed and fell into a state of depression. There were a number of problems in 1933 – all of which stemmed from the slump which followed the Wall Street Crash. Firstly, there was no confidence in the money system, or in the banks. In total 1500 banks had been closed and nine million men and women lost their savings because the banks had collapsed.
Putting your money in an open bank would be almost like giving your money away because nobody knew when the next bank was going to close. The people in America needed immediate relief. A once strong and prosperous country had been reduced to a country living in poverty and grief. The Americans were not used to this type of life style and they were not prepared for it either. The Americans needed to be rescued from the depression and they needed it immediately. Also because of the depression, millions had lost their jobs and could not find work anywhere else. At this time, not only were the workers not doing too well; farmers were also being destroyed because the prices for products such as wheat and corn

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