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segunda-feira, 27 de abril de 2015

Elections amid the crisis

Elections amid the crisis

(UFRGS 2014 - Question 19- History)


Great Roosevelt speech

In 1932, Franklin Delano Roosevelt was elected President of the United States, through the greatest economic crisis experienced by that country until then. But what was that and what caused the big crisis?

The despair and the rush took over the people who were in Wall Street during the Wall Street Crash of October 1929 which was also called as the Big Crash, and The Stock Market Crash of 1929. This disaster was the start of the Great Depression which lasted for 12 years and ended at the onset of World War II in 1941. October of 1929 was the start of collapse of The Stock Market which decreased 40 percent of the value of common paper stock. With this, the tragedy grew even more and more and more people became penniless which rendered them helpless in providing for the needs of their families. Multitude of businesses was closed and banks were declining. By 1932, an average of one out of four Americans were unemployed. Despair and hopelessness were mirrored on the faces of the people for they saw no hope in sight.

Wall Street crowded

To solve this, Franklin D. Roosevelt took a historic decision in his great speech, Roosevelt promised to "abolish useless offices" and "eliminate unnecessary government functions", stating that "Government Federal, state and local are very expensive," and even promised to help facilitate the "restoration of trade world. " Large crowds congratulated Roosevelt, that traveled around the country, with his campaign song "Happy Days Are Here Again", leading the American people to delirium.




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