Friday, March 25, 2011
New Deal Legacy
The New Deal left a legacy of improvement both to the economy and country itself. Even though it may have been criticized by Huey Long who believed it did not do enough to redistribute the wealth of the country, Dr. Francis Townsend who disagreed with Social Security Act, Father Coughlin who thought more money needed to be taken from the banks, and several others, the program did have many postive outcomes. The Works Project Administration employed 8.5 million people and lowered the unemployment rate by providing temporary work. Public projects were funded and are still in use today. The constuction of the Lincoln Tunnel began in 1934, linking Manhattan and New Jersey together, it is todays busiest vehicular tunnel in the world with 45 million vehicles passing through it each year. The French Market in New Orleans was originally built in 1785, but the Public Works Administration funded the renovation of the market and it is now an internationally renowned tourist attraction in the French Quarter of New Orleans. Almost 40,000 schools were built and many miles of roads were constructed around the country. Programs such as the National Recovery Administration, Home Owners Loan Corporation, Federal Emegency Relief Administration, and more worked hard to boost the economy and help relieve citizens of the nation.$500 million was funded for direct relief for the needy to provide food and clothing. Agencies provided loans to homeowners who were facing foreclosure. President Roosevelt renewed the publics trust in the banking system when Emergency Banking Acts allowed the reopening of banks after they were thoroughly examined and financially secure. Investment practices of banks were put under tight regulations so that savings could be confidently put back into banks accounts. The New Deal represents the United States ability to recover quickly and strongly after negative incidents such as the Great Depression and stock market crash of 1929. The country was able to pull together and make the best of its circumstances to once again reach its full potential. By working together and having the ability to elect a productive leader such as President Roosevelt, America was once again back on the path to greatness.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment