This lead to food prices declining, making farming completely unprofitable. In an ironic twist, farmers had to abandon rotting fields of food while people starved in every state. Then in 1932, Hoover resigned from office and the calm, optimistic Franklin D. Roosevelt was inaugurated as the next President. By the time he was in office, close to 15 million Americans were unemployed and 20% of them were homeless. Roosevelt immediately went into work by closing every bank so that reforms could be passed to reopen banks considered stable. Other financial securities like the FDIC and SEC were created to protect bank accounts and regulate the stock market. The most important part of his New Deal was the Works Project Administration. This permanent job system gave work to those who applied there. The WPA employed 8.5 million people from 1935 to 1943. These Americans were put to work in exchange for
This lead to food prices declining, making farming completely unprofitable. In an ironic twist, farmers had to abandon rotting fields of food while people starved in every state. Then in 1932, Hoover resigned from office and the calm, optimistic Franklin D. Roosevelt was inaugurated as the next President. By the time he was in office, close to 15 million Americans were unemployed and 20% of them were homeless. Roosevelt immediately went into work by closing every bank so that reforms could be passed to reopen banks considered stable. Other financial securities like the FDIC and SEC were created to protect bank accounts and regulate the stock market. The most important part of his New Deal was the Works Project Administration. This permanent job system gave work to those who applied there. The WPA employed 8.5 million people from 1935 to 1943. These Americans were put to work in exchange for