In 1929, the crashed, leaving
many companies' stocks worthless. Investors lost all of their
money that they put in stocks. By the 1930s, banks and businesses were failing, and many Americans were out of work. A
drought in the Great Plains turned the farmlands into a "." Many farmers their farms and went to
California to find work. This period became known as the .
A New President
was elected President in 1932 and
promised to fight the Depression by using all the powers of the
federal government. Roosevelt started a program called the to help Americans recover from the Depression. Some New
Deal programs included controlling the way stocks were bought
and sold, giving low interest loans to businesses, making sure
banks were run properly, and passing the of
1935, which gave financial aid to retired and disabled
Americans.
New Programs at Work
Under the New Deal, there were many different programs
such as the Federal Emergency Relief Administration (FERA),
which helped local relief organizations; the Works Progress
Administration (WPA), which hired the to build
schools, libraries, playgrounds, and hospitals; and the Public
Works Association (PWA), which built , roads, and
bridges. First Lady Eleanor Roosevelt traveled around the
nation visiting and talking to the people. The
president called her his "extra set of eyes and ears."