What did the government to prevent depression?
- Smoot-Hawley Tariff: This raised tariffs on imported goods, making it more expensive for Americans to buy foreign goods and reducing demand for American exports.
- Public works programs: The government invested in public works projects, such as building roads and bridges, in order to create jobs and stimulate the economy.
- Reconstruction Finance Corporation (RFC): This was a government-sponsored corporation that lent money to banks, businesses, and state and local governments in order to help them survive the Depression.
Roosevelt Administration policies:
- New Deal: This was a series of programs designed to help the country recover from the Depression. These programs included:
- Civilian Conservation Corps (CCC): This program provided jobs for young men in conservation projects.
- Works Progress Administration (WPA): This program provided jobs for unemployed people in public works projects, such as building roads, bridges, and schools.
- Social Security: This program provided monthly payments to retired workers, widows, and other people who were unable to work.
- Tennessee Valley Authority (TVA): This program provided electricity to rural areas and helped to improve the economy of the Tennessee Valley region.
The government's policies did have some success in helping to prevent the Depression from getting worse. For example, the RFC helped to prevent many banks from failing, and the New Deal programs provided jobs for millions of unemployed Americans. However, the Depression was so severe that it took many years for the economy to fully recover.
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