Roosevelt inherited the situation from President Herbert Hoover. While it is hard to pinpoint the exact date the depression started, the stock market crash of 1929 is the major signpost. In October of 1929, the New York Stock Exchange lost fifty billion dollars and the leading industrial stocks in the United States had lost forty percent of their value (Watkins 40). The ten years following the crash constituted the span of the Great Depression. While it is certain that it hit the poor and working class the hardest, its reach was f

extended government assistance to private bankers to reopen banks, gave the President complete control over gold movements, penalized hoarding, authorized the issue of new Federal Reserve bank notes, and arranged for the reopening of banks with liquid assets and the reorganization of the rest. On Monday, March thirteenth, banks reopened to the sound of people depositing money instead of withdrawing it. The crisis was over (Leuchtenburg 42-45). On Thursday night, March ninth, barely an hour after he had signed the Emergency Banking Act, Roosevelt outlined an economy program to congressional leaders. The plan included reduction of veteran's benefits, reduction of congressional salaries, and reduction of Federal salaries. It was designed to save the government half a billion dollars. This economy bill received much more debate in the House. Many liberal Democrats abandoned Roosevelt. Conservative Democrats were able to maintain control and, with the help of economy minded Republicans, the bill passed through both houses by the fifteenth of March (Schlesinger 10-11). This flurry of activity kindled the hopes of the people. They felt that something was being done to alleviate their situation. Will Rogers said "America hasn't been so happy in three years as they are today, no banks, no work, no nothing....If he burned down the capital we would cheer and say 'well, we at least got a fire started anyhow'"(qtd in Schlesinger 13). That first explosive week was only the beginning. The rest of the one hundred days saw the following legislation passed: March 31 - establishment of the Civilian Conservation Corps April 19 - abandonment of the gold standard May 12 - the Federal Emergency Relief Act May 12 - the Agricultural Adjustment Act May 18 - the Tennessee Valley Authority Act May 27 - the Truth-in-Securities Act June 13 - The Home Owner's Loan Act June 16 - the Glass-Steagall Banking Act June 16 - the Farm Credit Act June 16 - the Railroad

One of the New Deal administrators reflected subsequently: "Given later developments, the campaign speeches often read like a giant misprint, in which Roosevelt and Hoover speak each other's lines" (qtd. in Leuchtenburg 11). However, Hoover's handling of the economic crisis and many other issues virtually assured Roosevelt of the Presidency. In his inaugural speech, Roosevelt said "This nation asks for action

Some common words found in the essay are:
Stock Exchange, Conservation Crops, Banking Act, Roosevelt Presidency, Roosevelt's Deal, Act Roosevelt, Federal Reserve, Adjustment Act, Franklin Roosevelt, Rogers America, banking act, hundred days, act june, agricultural adjustment act, agricultural adjustment, june 16, emergency banking, civilian conservation, stock market, adjustment act, act june 16, valley authority act, tennessee valley, home owner's loan, owner's loan act,
Approximate Word count = 1587
Approximate Pages = 6 (250 words per page double spaced)