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The standard of living dropped dramatically, millions, more than one-fourth, of people were put out of work, banks were closed, international trade was stagnant, homeless families roamed streets, farms were foreclosed; all faith in capitalism had diminished. The topple of the economy was caused by an uneven distribution of wealth that allowed for luxurious spending and gambling on the stock market, which encouraged large corporations to produce more than could be bought by consumers. A pessimistic Hoover had left the United States in the middle of its worst crisis since the Civil War.
"It seemed as if they (the citizens of the United States) would do anything, if only someone would tell them what to do," said wife, Eleanor Roosevelt, about the throngs of Americans crowded around their radios listening to President, Franklin Delano Roosevelt's inauguration on March 4th, 1933...
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