The New Deal And Social Security Act Of 1935 Essay

Poverty, Rehabilitation, and Legislation: The New Deal and Social Security Act of 1935. Jacquelyn R. Ward United States History II: 1865-Present September 27, 2016 After the Great Depression, many Americans were left disheveled. They needed some form of financial assistance to help them get their lives back to normal. Many government officials such as Hurbert Hoover and Franklin D. Roosevelt helped to enact bills and programs that would assist Americans in rehabilitating their lives. The amount of unemployed workers, the economic relief for retired workers, and the creation of legislature directed towards financial stability all illustrate that the most important effects that the New Deal legislation had on the American government was a liberal one.. The Great Depression left the American banking system in shambles and left the American people broken and scared for their futures. There were several causes that led up to the enactment of the New Deal and the Social Security Act. A major cause was Black Tuesday. This was the largest stock market crash in U.S. history that took place on October 29, 1929. The crash happened because wealthy Americans used their revenue to speculate in real estate and the stock market rather than invest in new businesses. Another cause was U.S. banks issuing loans and credits to foreign governments in the amount of billions of dollars. Prior to the Great Depression and the enactment of the FERA, relief was based on the poor laws.Show MoreRelatedThe Significance of the Social Security Act to Social Work Practice 1454 Words   |  6 Pagesjobs and homes, it was time for a change to happen. With the election of Roosevelt in 1933, something new was on its way. During Roosevelts first 100 days in office, his administration passed legislation that aimed to stabilize industrial and agricultural production, create jobs and stimulate recovery. (AE Television Networks, 2013). As his presidency continued, he created the New Deal. 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By 1933 the value of stock on the New York Stock Exchange was less than a fifth of what it had been at its peak in 1929. Businesses, factories and banks closed their doors. Farm income fell 50 percent. By 1932 one out of every four Americans was unemployed. Eight months before the market crashed the White House struggled to set the industry in motion again. Franklin D. Roosevelt the popular governor of New York during the crisis, argued that the