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Franklin D. Roosevelt (view source)
Revision as of 22:02, September 8, 2007
, 22:02, September 8, 2007→Crash of 1937: edit
The country now reached a greater crisis than in 1933. The public debt, which was $22 billion when Roosevelt took office and was a heritage of [[World War I]], now was $37 billion. Taxes had been more than doubled by Roosevelt. By April 1938 unemployment reached several thousand more than when Roosevelt was elected in 1932. This was not Hoover’s Depression but Roosevelt’s Depression. Voices began to speak up suggesting after all Hoover may have known what he was doing, but here, nine years after the Depression began the fundamental condition of the country was no further advanced than it was at the end of Hoover's three year struggle with it.
The country now reached a greater crisis than in 1933. The public debt, which was $22 billion when Roosevelt took office and was a heritage of [[World War I]], now was $37 billion. Taxes had been more than doubled by Roosevelt. By April 1938 unemployment reached several thousand more than when Roosevelt was elected in 1932. This was not Hoover’s Depression but Roosevelt’s Depression. Voices began to speak up suggesting after all Hoover may have known what he was doing, but here, nine years after the Depression began the fundamental condition of the country was no further advanced than it was at the end of Hoover's three year struggle with it.
Making provision for war increased business profits. In 1936 Roosevelt had said, "If we face the choice of profits or peace, the nation will answer – must answer - 'We choose peace'. It is the duty of all of us to encourage such a body of public opinion in this country that the answer will be clear." <ref>''Getting Us into War'', Porter Sargent Publisher: P. Sargent, Boston, 1941. [http://americandeception.com/index.php?action=downloadpdf&photo=/PDFsml_AD/Getting_Us_Into_War-Porter_Sargent-1941-640pgs-POL.sml.pdf&id=218&PHPSESSID=03d3557b41f249f71349e6d730cc8498 ''No More Millionaires''], pg. 372 pdf</ref> After the Crash of '37, byt 1938 the Roosevelt Administration would advance 30% to a defense contractor when placing an order. The National City Bank reported an increase of overall business profits in the year 1939 over 1938 of 63.6%, and in its December 1940 Bulletin showed for 284 companies "directly affected by war and defense program" a rise of 79.2%. The ''Wall Street Journal'' reported, "Betterment in profits was naturally more pronounced, as a rule, in those industries benefiting directly or indirectly from the European conflict." <ref>''Wall Street Journal'', May 3, 1940 reported.</ref>
== Third Term ==
== Third Term ==