What you’ll learn to do: summarize Roosevelt’s First New Deal

Figure 1. A radio broadcast by President Roosevelt.

After assuming the presidency, Roosevelt took bold steps to fight back against the poverty and unemployment plaguing the country. He immediately created a bank holiday and used the time to bring legislation known as the Emergency Banking Act before Congress, which allowed federal agencies to examine all banks before they reopened, thus restoring consumer confidence. In his historic first hundred days, he then went on to sign numerous other significant pieces of legislation geared towards creating jobs, shoring up industry and agriculture, and providing relief to individuals through refinancing options and direct handouts. It’s important to note that not all of his programs were effective, and many generated significant criticism. However, these programs helped stabilize the economy, restore confidence, and change the pessimistic mindset that had overrun the country.