A lot closer than some people think. It was really Roosevelt's reforms that saved the system from itself and averted total catastrophe. You've got to remember, it wasn't only people's money that went down the drain in 1929; it was also their whole traditional system of values. Americans had learned to celebrate their society as an earthly way station to paradise, with all the cherished virtues of hard work and thrift as their tickets to security, success and happiness. Then suddenly, in just a few days, those tickets were canceled and apparently unredeemable, and the bottom fell out of everything. The American dream became a nightmare overnight for the overwhelming majority of citizens, and the pleasant, open-ended world they knew suddenly began to close in on them as their savings disappeared behind the locked doors of insolvent banks, their jobs vanished in closed factories and their homes and farms were lost to foreclosed mortgages and forcible eviction. Suddenly the smokestacks were cold and lifeless, the machinery ground to a halt and a chill seemed to hang over the whole country.
2006-10-29
07:29:25
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3 answers
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Anonymous
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Arts & Humanities
➔ History