America's Greatest 20th Century Presidents by Charles River Charles River Editors Page A
Authors: Charles River Charles River Editors
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relieving poverty and stimulating the economy, including an old-age pension bill that served as a model for Social Security. Many of these proposals served as precursors for the later New Deal. They, also, however, increased the state's budget deficit, from $15 million when Roosevelt entered office, to $90 million by the time he left.
By 1930, Roosevelt was ready to run for re-election. Unlike in 1928, Roosevelt won reelection by a rousing 14 percentage point margin. This mimicked the national elections, which swept Democrats into House and Senate seats across the country. Due to his initiatives in New York, which were seen as well-thought out policies ahead of the curve, Roosevelt was also positioned as a leading contender for the Democratic Presidential nomination in 1932.
Chapter 4: President Roosevelt Fights the Depression, 1933 – 1941
The Election of 1932
With the economy still cratering, Democrats were seething for victory in 1932. The Democrats had only won the White House four times since the Civil War, and each time only because of unusual or precarious circumstances. With the Great Depression deepening, the party saw an opening to shift the American political paradigm in its favor.
Many looked to FDR to carry the banner of change, but not all Democrats were initially convinced. Southern Democrats were especially wary of nominating Roosevelt, ironically because of his supposed pro-Catholic leanings. Roosevelt's early antagonistic relationship with Irish voters in New York belied that belief, and his support of Catholicism had been tepid and political in nature, making it a relatively easy issue for him to surmount. On the fourth ballot at the party's Chicago convention, Roosevelt was selected as the nominee, with Speaker of the House John Nance Garner as his running mate.
Until 1932, tradition dictated that a candidate accept a nomination in writing only. Roosevelt broke this tradition, flew to Chicago, and told the convention “I pledge to you, I pledge to myself, to a new deal for the American people.” That phrase would define the first half of his Presidency.
On Election Day, Roosevelt won handily. In one of the biggest margins in electoral history, Roosevelt carried 472 electoral votes to Herbert Hoover's 59, winning 57% of the popular vote to Hoover's 39%. It was an historic victory, indeed. Roosevelt's victory was the first since 1848 in which the Democrats won with a majority of the popular vote, and no President from either party had ever won more electoral votes. Furthermore, the Democrats won substantial majorities in the House and Senate. Thereafter, Democrats would hold a majority in the House for all but four years until 1995. It was, without question, precisely the shift the Democrats had hoped it would be.
Inauguration
By the time Roosevelt was inaugurated in March of 1933, the Depression had worsened. Of the 48 states, 32 had closed their banks due to bank runs, and FDR's inauguration came amid the worst bank run in the history of the Depression, which prompted him to act quickly to counter contagion.
Today, of course, one of the things Roosevelt is most remembered for is his first inaugural address, which understandably addressed the pessimistic mood in the nation. Roosevelt began his speech by saying, “I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our Nation impels. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. 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
By 1930, Roosevelt was ready to run for re-election. Unlike in 1928, Roosevelt won reelection by a rousing 14 percentage point margin. This mimicked the national elections, which swept Democrats into House and Senate seats across the country. Due to his initiatives in New York, which were seen as well-thought out policies ahead of the curve, Roosevelt was also positioned as a leading contender for the Democratic Presidential nomination in 1932.
Chapter 4: President Roosevelt Fights the Depression, 1933 – 1941
The Election of 1932
With the economy still cratering, Democrats were seething for victory in 1932. The Democrats had only won the White House four times since the Civil War, and each time only because of unusual or precarious circumstances. With the Great Depression deepening, the party saw an opening to shift the American political paradigm in its favor.
Many looked to FDR to carry the banner of change, but not all Democrats were initially convinced. Southern Democrats were especially wary of nominating Roosevelt, ironically because of his supposed pro-Catholic leanings. Roosevelt's early antagonistic relationship with Irish voters in New York belied that belief, and his support of Catholicism had been tepid and political in nature, making it a relatively easy issue for him to surmount. On the fourth ballot at the party's Chicago convention, Roosevelt was selected as the nominee, with Speaker of the House John Nance Garner as his running mate.
Until 1932, tradition dictated that a candidate accept a nomination in writing only. Roosevelt broke this tradition, flew to Chicago, and told the convention “I pledge to you, I pledge to myself, to a new deal for the American people.” That phrase would define the first half of his Presidency.
On Election Day, Roosevelt won handily. In one of the biggest margins in electoral history, Roosevelt carried 472 electoral votes to Herbert Hoover's 59, winning 57% of the popular vote to Hoover's 39%. It was an historic victory, indeed. Roosevelt's victory was the first since 1848 in which the Democrats won with a majority of the popular vote, and no President from either party had ever won more electoral votes. Furthermore, the Democrats won substantial majorities in the House and Senate. Thereafter, Democrats would hold a majority in the House for all but four years until 1995. It was, without question, precisely the shift the Democrats had hoped it would be.
Inauguration
By the time Roosevelt was inaugurated in March of 1933, the Depression had worsened. Of the 48 states, 32 had closed their banks due to bank runs, and FDR's inauguration came amid the worst bank run in the history of the Depression, which prompted him to act quickly to counter contagion.
Today, of course, one of the things Roosevelt is most remembered for is his first inaugural address, which understandably addressed the pessimistic mood in the nation. Roosevelt began his speech by saying, “I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our Nation impels. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. 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
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