Paper Summary:

This paper examines how, when Franklin Delano Roosevelt was elected President of the U.S.A., he promised a "New Deal" with the American people to rescue the country from the dire state that resulted from the Great Depression. It looks at how he set about the task of reopening the banks with the Emergency Banking Bill and how with the Banking Act he reaffirmed confidence in the banks and started the slow journey to economic recovery. It also analyzes the National Recovery Administration (NRA),whose main aim was to stabilize business and to generate growth.

From the Paper:

"After this early work Roosevelt pushed through a mass of New Deal legislation at a very quick pace in since what has become known as the "Hundred Days". The banks crisis was over, but unemployment was still at the chronic level of over thirteen million, and millions of farm and home owners were in debt. The administration created two organizations to solve the problem, the Farm Credit Administration (FCA) and then passed the Home Owner's Loan Act to provide the same service to city dwellers through the Home Owner's Loan Corporation. Both these actions helped to slow down the rate of foreclosures and helped to strengthen the banking system, so both of these responses can be seen as effective work upon the economy. To tackle the chronic unemployment the administration set up the Civilian Conservation Corps. (CCC), which put 3 million men into work on conservation projects during 1933. The CCC, was joined by the Civil Works Administration (CWA) which provided jobs for 4 million people."

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