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Did the New Deal rewrite the government's contract with the people, or not?
Did The New Deal Rewrite The Government's Contract With The People Or Not?
Length: 2 pages (564 Words)
In October 1969, America experienced one of the major economic downturn this day is Black Tuesday. This happened when America’s stock exchange market collapsed, thus leading to the country experiencing one of its most severe downturn in terms of its economy. Various companies became bankrupt America’s money supply dwindled; workers became retrenched while some were fire, the banks failed and thus the monetary system and unemployment rising to an all-time high of 25%. The economic crisis blame lay squarely on the current president Hoover Herbert and thus when Roosevelt campaigned; he made it his strategy to redeem the American people. Thus, his response to the economic downturn was to come up with a strategy known as the new deal, which was a collaborative series of effort from the government to help improve the affected lives of the American people.