the great depression was the worst economic casualty in the of the industrialized world lasted from 1929 to 1939. it began after the stock market crash of october 1929, sent wall street into a panic and wiped out millions of investors.
president roosevelt after being elected took immediate action to address the country’s economic woes.
he first announced a four-day bank holiday during all banks would close so that congress could pass reform legislation and reopen those banks determined to be sound.
he addressed the public directly over the radio in a series of talks a long way towards restoring public confidence.
during first 100 days in office, he passed legislation that aimed to stabilize industrial and agricultural production, create jobs and stimulate recovery.
he also sought to reform the financial system by creating the federal deposit insurance corporation to protect depositors’ accounts and the securities and exchange commission to regulate the stock market and prevent abuses of the kind that led to the 1929 crash