What did President Roosevelt think the nation needed to do to recover from the Great Depression?
There were several things that President Roosevelt believed the nation had to do in order to recover from the effects of the Great Depression. Two things were to provide relief and recovery to the American people. President Roosevelt was able to get many laws passed in his first 100 days in office. These laws provided jobs for the American people. They included the Civilian Conservation Corps, the Civil Works Administration, and the Public Works Administration. They also helped some Americans refinance their mortgages.
Another thing President Roosevelt believed the nation had to do was to take steps to prevent another depression from occurring. The Glass-Steagall Act prevented commercial banks from investing in the stock market. It also created the Federal Deposit Insurance Corporation to insure savings accounts. The Securities Act created the Securities and Exchange Commission, which regulated the stock market. Investment companies also had to provide complete and truthful information to investors.
President Roosevelt knew he had to restore the confidence of the nation in our financial system. He closed all of the banks in the country and allowed only the strongest ones to reopen. He also spoke to the American people using the radio as his medium. These radio messages, called Fireside Chats, reassured the American people that things would be fine. For example, he told them what he was doing with the banks. He asked the American people to trust his actions.
There were many things that President Roosevelt believed the nation needed to do in order to recover from the Great Depression.