In 1928, the stock market crash occurred and put our country in an economic depression; our 31st president, Herbert Hoover, a Republican that didn’t do much during this time of disparity, term would soon be up. On November 8, 1932, the presidential election was held with the two running candidates Herbert Hoover and Franklin D. Roosevelt. This election was held during a difficult time for the country, and more than 13 million Americans were not working. This time is well known as the great depression. Franklin D. Roosevelt, a Democrat that appealed to the lower class won the election of 1932. Franklin D. Roosevelt won fifty-seven percent of the most popular votes and forty-two out of fifty states.
The victory of Roosevelt “marked the collapse of the fourth party system and the progressive era” from 1896 all the way to 1932. While Roosevelt was president, the development of the fifth-party system allowed the first new deal to take action, the beginning of the first new deal. The first New Deal was an application that delivered financial relief, for many people, this application was very helpful. Over time the political system drastically changed from the majority Republican to the majority Democratic causing the way the United States handled some situations. The democratic party changed its focus toward “humane, progressive policies” based on the lower and middle classes. This wasn’t the time for the republican party; the Democrats dominated Congress. Many changes in the political society occurred with ninety seats gained in the House of Representatives and thirteen seats in the Senate. For eight years democrats would hold control of both houses of Congress.
The state of depression: the united states was vile. According to the State of Depression 1932: handbook of monetary policy “between 1929 and 1933, employment fell about twenty-five percent and output fell about thirty percent in the United States.” With millions unemployed “nearly half the country’s banks had failed” A ton of Americans that bought their valuables on credit were now in debt, and some Americans were forced to buy stuff on credit because of the bank failures. Farmers overproduced within this time and farm product prices went up and Americans could not afford products produced from the farms. Foreclosure became very common for farmers. The country was in great despair, droughts in the southern plains were intense, “killing people, livestock, and crops” This was also known as the `` dust Bowl”, which is another reason farming was a poor production. The United States wasn't the only country going through a depression, countries like Germany, France, Argentina, Canada, Italy, and many others faced this problem. After one nation fell, they all started to fall, that was the domino effect.
On Saturday, March 4, 1933, Franklin D. Roosevelt gave his first inaugural address, where he addresses the economic problems in a positive way. He referred to that he desired to get rid of unemployment and shield decrease in lower-class houses and farms. “He called for strict supervision of banking, an end to speculation with the money of others, and provisions for a sound currency.” His address was to inform and motivate the country to be there for each other. “Franklin Delano Roosevelt promised that he would take action with detailed measures to combat the Great Depression. He also promised that if the normal public procedure was not effective enough, he was prepared to take upon himself broad executive power to meet the emergency. ”
He greatly believed we could fix the economic problem.
There were many differences between Hoover’s and Roosevelt's policies, but very few similarities. Many people believed Herbert Clark Hoover was the blame for the downfall of the country, he was a failure to the economy and the American people. Herbert C. Hoover believed that an economy based on capitalism would correct itself. “ He believed business prosperity would trickle down to the average person. This philosophy was not effective against the Great Depression.” Hoover tried to avoid a deeper depression, In 1929 after the stock market crash he “lowered taxes from twenty-five percent to twenty-four percent. In December 1930, he raised it back to twenty-five percent.” In 1932 during the time of the election President Herbert Clark Hoover “approved the Reconstruction Finance Corporation to prevent more bankruptcies.” The Reconstruction Finance Corporation was successful and paid out 2 billion dollars to businesses, banks, and railroads by 1933. Although people disagreed with it, Hoover tried to prevent economic failure but took action later. Meanwhile, Franklin D. Roosevelt took more successful actions preventing the United States from falling into more of a depression. The Civil Works Administration was part of The New Deal to provide the unemployed with temporary jobs; The Civil Works Administration provided jobs for 4 million Americans. Both Hoover and Roosevelt took action for the economy.
The election of 1932 impacted the political system, the nation, and the way the country avoids another economic depression in modern America. The United States had many ups and downs but eventually got through the historical Depression.