The Successes and Failures of the New Deal

In the 1920s, the economy of the United States was attaining new heights of prosperity as it emerged from World War I as a creditor nation with productivity and economic growth (Biles 5). During this time, speculation caused many to buy stocks with loaned money, and they used these stocks as collateral for buying more stocks. Loans from broker's went from under five million in mid 1928 to $850 million in 1929 ("Causes"). Because the stock market was based …

…Press, 1991. "Causes of the Great Depression." 4 May 2004. <http://www.chaosaccrossamerica.com /Info/History/GreatDepression.> McElvaine, Robert. The Great Depression. United States: Times Books, 1984. "New Deal." Encyclopedia Americana International Edition. 1993. Princeton University. Realdictionary.com. 2001. 7 May 2004. <http://www.realdictionary.com/T/dir/theGreatDepresion.asp> Romasco, Albert U. The Politics of Recovery Roosevelt's New Deal. New York: Oxford University Press, 1983. Venn, Fiona. The New Deal. United Kingdom: Edinburgh University Press, 1998.