WALL STREET CRUSH:
CAUSES:*they brought shares and waited for the price to go up. *european market closed. *Over production: less buyers and more technology. *Less confidence.
CONSECUENCES: *social class crisis. *Bank rupt: speculators asked for money and shares went down. *Unemployment: paid less. *Hyperinflation. *Less confidence.
THE NEW DEAL: during his election campaign Roosvelt has promissed the american peolple a new deal. Roosvelt planned to use the full powe of government to get the us out of depression. He set: * getting americans back to work. *protecting their savings and property. *providing relief for the sick,old, unemployed. *getting american industry and agriculture back on their feet.
THE 2ND NEW DEAL: Roosvelt was facing a barrage of critics. Some of them complained that he was doing too little and others that he was doing too much . The usa was recovering from the depression . In 1935 Roosvelt met with a group of senators, who persuade him to take radical steps. Roosvelt presented a lot of laws which became known as th 2nd new deal. Aspects: *wagner act. *social security act. *works progres administraion. *the resettlement administration.
CRITICS OF THE NEW DEAL: *High profiles figures complaint the new deal was not doing enough to help the poor.
The new deal soon came under fire from sections of business community for doing too much: * there were a lot of codes and regulations. * Roosvelt was behaving like a dictator. *government should not support trrides unions.