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neteen twenty, Americans elected Republican Warren Harding to the presidency. The voters were tired of the progressive policies of Democratic president Woodrow Wilson. They were especially tired of Wilson's desire for the United States to play an active role in the new League of Nations.

 

Harding was a conservative Republican. And so were the two presidents who followed him, Calvin Coolidge and Herbert Hoover.

 

All three of these presidents generally followed conservative economic policies. And they did not take an active part in world affairs.

 

 

President Franklin Roosevelt gives a radio broadcast in Washington, DC

 

The change happened mainly because of economic troubles.

 

CALVIN COOLIDGE: "The country needs every ounce of its energy to restore itself."

 

(MUSIC – "Keep Cool and Keep Coolidge"))

The nineteen twenties were a time of growth and business strength.

 

President Calvin Coolidge said during his term that the "chief business of the American people is business." This generally was the same belief of the other Republican presidents during the period, Warren Harding and Herbert Hoover.

 

There was a good reason for this. The economy expanded greatly during the nineteen twenties. Many Americans made a great deal of money on the stock market. And wages for workers increased as well.

 

(MUSIC)

However, economic growth ended suddenly with the stock market crash of October nineteen twenty-nine.

 

In that month, the stocks for many leading companies fell sharply. And they continued to fall in the months that followed. Many Americans lost great amounts of money. And the public at large lost faith in the economy. Soon, the economy was in ruins, and businesses were closing their doors.

 

President Hoover tried to solve the crisis. But he was not willing to take the strong actions that were needed to end it. As time passed, many Americans began to blame Hoover for the terrible economic depression.

 

Democrat Franklin Roosevelt was elected mainly because he promised to try new solutions to end the Great Depression.

 

FRANKLIN ROOSEVELT: "This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance."

 

Soon after he was elected, Roosevelt launched a number of imaginative economic policies to solve the crisis.

 

FRANKLIN ROOSEVELT: "Our greatest primary task is to put people to work. This is no unsolvable problem if we face it wisely and courageously. It can be accomplished in part by direct recruiting by the Government itself, treating the task as we would treat the emergency of a war, but at the same time, through this employment, accomplishing greatly needed projects to stimulate and reorganize the use of our great natural resources.

 

(MUSIC)

Roosevelt's policies helped to reduce the amount of human suffering. But the Great Depression finally ended only with America's entry into World War Two.

 

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