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Was the New Deal a Failure?


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Thu Jul 11 2002
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Was the New Deal a Failure?

... Was The New Deal a Failure? After the Wall Street Crash in 1933 the American economy collapsed and fell into a state of depression. There were a number of problems in 1933 - all of which stemmed from the slump, which followed the Wall Street Crash. Firstly, there was no confidence in the money system, or in the banks. In total 1500 banks had been closed and 9'000'000 men and women lost their savings because the banks had collapsed. The people in America needed immediate relief. A once strong and prosperous country had been reduced to a country living in poverty and grief. The Americans were not used to this type of life style and they were not prepared for it either. The Americans needed to be rescued from the depression and they needed it immediately. Also because of the depression, millions had lost their jobs and could not find work

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