![]() ![]() The 1932 Presidential campaign was one of the most momentous in American history. In his acceptance speech, Roosevelt addressed the problems of the depression by telling the American people that, “I pledge you, I pledge myself, to a new deal for the American people.” In the election that took place in the fall of 1932, Roosevelt won by a landslide. Roosevelt, Governor of New York, was nominated as the presidential candidate of the Democratic Party. ![]() View of one of the dormitories which can house up to 100 people.” The original caption for this photo, taken in Weimar Germany during the Great Depression, reads: “When night comes! The picture was taken in the municipal refuge for the homeless. Army troops were called in, and the image of U.S Army soldiers confronting the veterans of the Great War in the nation’s capital and virtually running them out of town did not sit well with the public. When Congress rejected their appeals, some members of this so-called, “BonusArmy” reacted with frustration and violence. They rallied in Washington in 1932, hoping that they might be able to receive their military pension funds early. President Herbert Hoover’s response to these crises disappointed many, including WWI veterans, many of whom found themselves impoverished. When Congress rejected their appeals, some members of this so-called, “Bonus Army” reacted with frustration and violence. In the early 1930s, the United States moved further into economic instability, with the collapse of many banks, dramatically reduced spending on consumer goods, and increasing unemployment. “I was wiped…I considered killing myself, ’cause I had nothing left.” Mehales had lost everything, including his restaurant, which he had to sell at a rock bottom price. American Life Histories: Manuscripts from the Federal Writers’ Project, 1936 to 1940. Williams, interviewer Spartanburg, South Carolina, December 1938. On that day of October 29, they told me I needed more cash to cover up. I had about five thousand dollars invested. ![]() I went to the bank and put up all the cash I had in the bank with my brother…. My brother called me and told me I would have to put up more cash. …one of my customers showed me how much money he was making in the market…It looked good to me, and I bit with what you folks call ‘hook, line and sinker.’…The first day of October in 1929 made me feel like I was rich…During the last days of October, my stocks began to drop. “One day,” he recalled in a Federal Writers’ Project interview: George Mehales, a Greek immigrant who owned a diner in Spartanburg, South Carolina, began investing in the stock market just before the crash. stock market had expanded rapidly during the 1920s, attracting many inexperienced investors. and world economy for the next ten years. The resulting panic devastated the fortunes of many investors and caused major declines in consumption, industrial production, and employment, which in turn affected the U.S. This event was symptomatic of a decade of economic uncertainty that was precipitated by the crash in the fall of 1929 when U.S.
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