Is FDR on money

The New Deal for the USA

"This great nation will continue as before, will flourish and prosper again. So first of all let me express my firm conviction that the only thing we have to fear is fear itself - the nameless, unreasonable, unfounded panic Fear that paralyzes the necessary effort to turn retreat into advance. ”"

Hundreds of thousands had gathered outside the Capitol in Washington on March 4, 1933 to hear the inaugural address of the new President of the United States, Franklin D. Roosevelt. Millions followed her on the radio. Since the stock market crash in October 1929, which resulted in bank failures and corporate failures, mass unemployment and evictions, the United States has been in a permanent crisis. Roosevelt's predecessor, Republican Herbert Hoover, had expected an economic boost - in vain. Finally, the Democrat Roosevelt, elected by a large majority, took office - a politician who came from the American aristocracy and who had been unable to walk alone since 1921 due to polio. He had announced that there would be "a new deal for the American people" with him. In his inaugural address, he now briefly and clearly outlined how he saw the initial situation:

"" There is so much on our doorstep, but even when we have the supplies in front of our eyes, we do not manage to make them usable. This is primarily due to the stubbornness and inability of those who had to regulate the exchange of human goods. You failed. "

The money changers - so Roosevelt with biblical rhetoric - had left their throne in the temple of American civilization, now it was a matter of restoring the old social values.

"" Happiness does not consist in mere possession of money. It consists in pride in what has been achieved, in the joy of creative activity. The joy and moral drive of work must no longer be neglected in the hectic pursuit of perishable profit. ”"

That said, the two most important goals of the New Deal were named: tight control of the financial sector in order to put an end to frivolous speculation with other people's money. And all kinds of measures to create jobs, upgrade work and integrate the workforce as a recognized element in society.
In the first "hundred days" of the new administration, Congress approved all of Roosevelt's proposed measures and passed more laws than ever before. In their design and implementation, instead of representatives of business interests and members of the party machine, intellectuals and outsiders played a decisive role. Support measures for farmers and homeowners and state job creation measures served to alleviate immediate need. The redesign of a disaster area on the Tennessee River under the direction of the Tennessee Valley Authority became a democratic experiment in the social economy with worldwide attention.

Unlike in Italy and Germany, in the USA economic dirigist and social reform measures were not accompanied by the abolition of civil liberties. It was true when, in April 1935, Roosevelt stated in one of his "fireplace chats" on the radio:

"" Never since taking office in March 1933 have I perceived an atmosphere of relaxation so clearly. It is about more than the restoration of the material basis of our individual existences. It is about restoring confidence in our democratic procedures and institutions. ”"

In view of the aggressiveness of the anti-democratic Axis powers, however, the only way out of the economic depression was the acceleration of the armaments industry. The driving force was again Roosevelt. The New Deal had already made him one of the most important presidents of the USA, through which the country was on the way from the laissez-faire state of economic liberalism to the welfare state of the 20th century, without revolution and despite powerful resistance from the conservative side.