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1、Roosevelt’snewdealintheGreatDepressionTaylorClass2120110202Introduction:TheGreatDepressionwasoneoftheworsttimeperiodsinAmericanhistory.TheNewDealintroducedbyPresidentRooseveltplayedasignificantroleinthattimeandhelpedAmericansovercomethedepression.TheGreatDepressionbe
2、ganwiththeWallStreetCrashofOctober,1929andrapidlyspread.Themarketcrashmarkedthebeginningofadecadeofhighunemployment,poverty,lowprofits,deflation,plungingfarmincomes,andlostopportunitiesforeconomicgrowthandpersonaladvancement.Threeyearsintothedepression,HerbertHooverl
3、ostthe1932presidentialelectiontoFranklinDelanoRooseveltinasweepinglandslide.Afterthen,aseriesofeconomicprogramswereenactedintheUnitedStates,whichisknownastheNewDeal.TheNewDealfocusedonwhathistorianscallthe"3Rs":Relief,Recovery,andReform.Thatis,Relieffortheunemployeda
4、ndpoor;Recoveryoftheeconomytonormallevels;andReformofthefinancialsystemtopreventarepeatdepression.Theeconomicprogramsmainlyinvolvedthefollowings.Thefirstisbankingreform.RooseveltsenttoCongresstheEmergencyBankingAct,whichprovidedforasystemofreopeningsoundbanksunderTre
5、asurysupervision,withfederalloansavailableifneeded.Three-quartersofthebanksintheFederalReserveSystemreopenedwithinthenextthreedays.Billionsofdollarsinhoardedcurrencyandgoldflowedbackintothemwithinamonth,thusstabilizingthebankingsystem.Thesecondismonetaryreform.Thegov
6、ernmentsuspendedthegoldstandard.Thedollarwasallowedtofloatfreelyonforeignexchangemarketswithnoguaranteedpriceingold.ItenabledtheFedtoincreasetheamountofmoneyincirculationtotheleveltheeconomyneeded.Thethirdissecurityregulation.ToavoidanotherWallStreetCrashtheSecuritie
7、sActof1933wasenacted.Itrequiredthedisclosureofthebalancesheet,profitandlossstatement,thenamesandcompensationsofcorporateofficers,aboutfirmswhosesecuritiesweretraded.Additionallythosereportshadtobeverifiedbyindependentauditors.Thefourthispublicworks.Toprimethepumpandc
8、utunemployment,theNIRAcreatedthePublicWorksAdministration,amajorprogramofpublicworks,whichorganizedandprovidedfundsforthebuildingof
