Since Roosevelt took office in 1933, he received recognition from his nation due to his dedication to tackling the Great Depression’s consequences. He proposed the New Deal program to stabilize the economy and resolve unemployment and deflation when many people lived under constant political and economic stress. His campaign irrevocably changed the US economy and relieved the nation’s struggles as it affects the country even now.
It is reasonable to state that Roosevelt’s campaign successfully prevented the failure of democracy as the New Deal’s founder, Roosevelt, supported the Democratic party. He believed that the government represents the citizens’ concerns. To illustrate, he terminated the discrimination in the workplace through the Works Progress Administration since he established systems where employees decided on the candidates for the federal payroll (Kelly). The New Deal facilitated democracy by supporting low-income individuals and the working classes.
When dealing with private property, the New Deal paid particular attention to real estate. Since house prices went down, creating a housing crisis, many unemployed people lost their shelters. Hence, Roosevelt established the Federal Housing Administration responsible for mortgage regulations and housing conditions in 1934 to terminate selfish loan recalls. Another legislative body is the Home Owners’ Loan Corporation, founded in 1933 and concerned with home refinancings. The success of these regulations is justified by the fact that “between 1933 and 1935, 1 million people received long-term, low-interest loans through the agencies, which saved their homes from foreclosure” (Kelly). The New Deal also protected public enterprise, thus prohibiting WPA from competing with it. Roosevelt believed that protecting private capitalism was essential for the economy’s stabilization.
Maintaining the basic welfare of individuals was the more approached goal as Roosevelt created several programs. First, The Federal Security Agency has been responsible for social security, education funding, and nourished food administration since 1939 (Kelly). Moreover, the Civilian Conservation Corps of 1933 provided jobs for many people and created public work projects and trails in parks that are still used today. However, not all projects were perceived positively since Roosevelt’s administration opposed some. For example, the Civil Works Administration creating high-paying jobs was terminated in a year because the government opposed the project’s costs. Roosevelt supported his nation’s well-being by resolving the massive hunger and poverty caused by the Great Depression.
The New Deal was unique as it addressed not only the existing economic issues but also resolved their causes. The Great Depression arose from the market crash in 1929, when stocks fell by 13.5% (Kelly). Roosevelt decided to stabilize the country’s economy to avoid such a crisis and succeeded in creating state-planned economies. One such legislation is the Glass-Steagall Act of 1933, separating commercial and investment banking. However, Roosevelt faced opposition from the large banks, who feared further subsidizing small banks. After several negotiations, his proponents won, and the act was accepted. Today, it guarantees fraud-free loans and secure banking, accounting, and investing processes. The campaign prevented banks from making risky investments and earned customers’ trust.
To conclude, the New Deal succeeded as it provided people a chance to rebuild their lives after the Great Depression. It was a necessary initiative to return to people’s jobs, wages, and property that they lost due to the market crash. Roosevelt tried to protect representative democracy and create economic and social balance in people’s lives. His banking reform laws and work relief programs changed the history of America.
Work Cited
Kelly, Martin. “Top 10 New Deal Programs of the 1930s.” ThoughtCo, Web.