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Article: New Deal
- Article from:
- Gale Encyclopedia of U.S. Economic History
CopyrightCOPYRIGHT 2000 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DEAL
The New Deal (1933
–
1939) was a series of programs intended to alleviate the suffering caused by the Great Depression (1929
–
1939), an abrupt economic collapse that began in 1929 and resulted in massive unemployment throughout the 1930s. The New Deal began with the inauguration of Franklin Roosevelt (1933
–
1945) as President of the United States in 1933.
To restore confidence in the American financial system Roosevelt declared a "bank holiday," closing all banks for four days until Congress met to pass bank reform legislation. The immediate banking crisis ended soon after when Congress passed the Emergency
franklin d. roosevelt's "new deal" programs ...