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PinkMonkey Online Study Guide-World History


14.6 Methods to alleviate the effects of Depression

President Hoover tried to relieve the misery of the people affected by Depression. He introduced voluntary relief programs to provide employment. Later, he formulated a program of providing credit to railroads and financial institutions. These laws became part of the Reconstruction Finance Corporation Act (1932), which was passed by the Congress. These measures did not gather much support from the people. The condition of the people only worsened as the Depression continued.

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Exhibit 14.3
Depression

In the election of 1932, Franklin Roosevelt, the Democrat candidate gained victory over the unpopular Hoover. Franklin Roosevelt tried to revive the economy by helping the clogged banks within weeks of becoming President. Then, with the help of the Congress, he inaugurated the New Deal under the principle of 3Rs-namely: Relief, Recovery and Reform.

Under Roosevelt, the Congress passed a series of Acts:

The Agricultural Adjustment Act (AAA)-aimed to restore the purchasing power of farmers.


The Tennessee Valley Authority (TVA) was set up to reorganize the economy of a depressed country in consultation with the people.

These Acts, along with the National Industrial Recovery Act (to regulate Industry) and the Civil Works Administration (CWA) to provide jobs to people proved to be quite popular with the people. By the time, America was to enter the second phase of the New Deal Program, the 2nd World War broke out.


Index

14.0 - Introduction
14.1 Republican Ascendancy and World Politics
14.2 The Washington Conference
14.3 Republicanism at Home
14.4 Panic of 1929
14.5 Causes
14.6 Methods to alleviate the effects of Depression
14.7 The Effects of the New Deal
14.8 Impact of Great Depression
14.9 Dates & Events
14.10 Points to Remember

Chapter 15

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