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Introduction
President Franklin Roosevelt rose to power at the time when the U.S. was facing hardships in the economy with the great depression badly affecting the economic activities of the country.
Although the President did not have new measures to combat the great depression, he had normal old techniques to be applied together with a message of hope to the Americans that they could overcome everything that is affecting the economy. He encouraged the Americans to overcome fear first. This paper discusses the techniques that President Roosevelt used to overcome the great depression in his presidency.
The Great Depression
The great Depression affected the economy of the U.S. in the 1930s with people’s values shrunken to the lowest levels. The government increased taxes due to reduced levels of income with ability for consumers to consume goods decreasing to lowest levels.
In addition, the means of exchange that measures the level of liquidity in the economy had gone down thereby freezing any form of trade. Enterprises closed down even as savings of many Americans were diminished.
The level of economic activities in the country was badly affected and the levels of unemployed were soaring. Therefore, the president had to offer not only hope, but ways through which the economy could be resuscitated (Polenberg 39).
Measures to End the Great Depression
The President began by offering measures that could be undertaken to end the great depression. He argued that banks had lacked morals and ethical standards that led to lack of credit to borrowers. Due to this, he stated that his government would restore values in the banking sector so that credit can be improved and the levels of investment increased. This was not the only solution to the problem.
He argued that employment levels were low and the economy could only be revived through reduced unemployment levels. This could be achieved by various means beginning by direct recruitment by the government. He pointed out that his government would treat unemployment as an act of emergency such as war. Through employment, the country’s natural resources would be put back to use (Polenberg 40).
The other revealed measure to end the great depression was balancing of population in industrial centers together with redistribution into agricultural land. Through this, Agricultural production would be increased even as unemployment reduces.
This was to be accompanied by the increased purchasing power of the population. The federal government pledged to support these activities by effective planning and provision of effective means of transportation of manufactured farm products. Despite this, the efforts were to begin immediately and not wait any longer (Polenberg 42).
President Roosevelt pointed to regulation of the financial sector as another ensure that would ensure that the recession did not repeat itself again in future.
This could involve strict supervision of all banking, credit and investment activities carried by all financial institutions. This could help end speculation using other people’s money. In addition, the president prioritized stability of the national economy over international trade.
In the State of the Union Address in 1935, the president reiterated that the federal government owed the Americans in terms of provision of employment. Therefore, he outlined measures taken by the federal government to reduce levels of unemployment.
These measures included a vast public works program that would cost $5 billion such as slum clearance and upgrading, rural electrification and reforestation (Polenberg 64).
Further still, he reiterated that his second term government would ensure that unemployment is low, interest rates are maintained low to encourage investment, more agricultural production would be promoted and better and cheap infrastructure would be provided to the American citizens.
The president further argued that welfare programs established by the federal government such as home relief should come second to work relief, a statement that has spurred mixed reactions.
A part from economic recovery and overcoming the Great Depression, President Roosevelt was concerned with the conservation of the environment. He continuously pointed out that the environment should be conserved for the future generations that will succeed the land in a few years to come.
His government undertook measures to conserve the environment through various programs such as the reforestation, dam construction and provision of hydroelectric power projects to show his concern for the environment (Polenberg 66).
Conclusion
It is true that President Roosevelt had measures in place to overcome the great depression that affected the U.S. economy in the 1930s. First, the great depression had led to low levels of productivity that was accompanied by high unemployment levels, lack of credit in financial institutions, low investment and reduced farm output. The measures as he outlined in his inaugural address to the nation were many.
They included government support to improve agricultural production and general productivity in the country through improved industrial activities. Farmers were to be supported by provision of cheap infrastructure and provision of cheap social amenities such as electricity through the rural electrification programme. Unemployment was to be reduced by direct government recruitment.
Lastly, government regulation of the banking sector was to ensure that the issues affecting the economy are not repeated in future. In addition, the President pursued environmental conservation measures such as reforestation.
Works Cited
Polenberg, Richard. The Era of Franklin D. Roosevelt, 1933-1945: A Brief History with Documents. Basingstoke: Palgrave McMillan. 2000. Print.
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