The market hesitated, and investors began to sell their stocks, causing a panic. Major
investors injected $100 million to restore confidence, but this was only a stopgap
measure. Black Tuesday, October 29, 1929 was the doomsday. The greatest drop in history occurred and panic ensued. It was the deepest long lasting economic collapse in the nation's history. The crash alone did not cause "the great depression". International economic had suffered severe problems partially due to war reparations, and debt. The New Deal, an act by Franklin D. Roosevelt provided stability to the nation and was an effort to repair damages suffered from unstable and lacking economy. This was part of his efforts to revive the country from the great depression and the crass of 1929.
<Tab/>Franklin D. Roosevelt's New Deal programs were extremely successful, some failing in few instances. Many of the acts put in place throughout the 1930's are still reaping benefits today. For example, the Social Security Act of 1935, established unemployment compensation and old-age survivor's insurance paid for by a joint tax on employers and employees. It also provided insurance against old age and unemployment, federal matching grants to state assistance programs to the indigent.…
