Cross posted from The Stars Hollow Gazette
This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.
Find the past “On This Day in History” here.
March 4 is the 63rd day of the year (64th in leap years) in the Gregorian calendar. There are 302 days remaining until the end of the year.
In this day in 1933, at the height of the Great Depression, Franklin Delano Roosevelt is inaugurated as the 32nd president of the United States. In his famous inaugural address, delivered outside the east wing of the U.S. Capitol, Roosevelt outlined his “New Deal”–an expansion of the federal government as an instrument of employment opportunity and welfare–and told Americans that “the only thing we have to fear is fear itself.” Although it was a rainy day in Washington, and gusts of rain blew over Roosevelt as he spoke, he delivered a speech that radiated optimism and competence, and a broad majority of Americans united behind their new president and his radical economic proposals to lead the nation out of the Great Depression.
The only American president elected to more than two terms, he forged a durable coalition that realigned American politics for decades. FDR defeated incumbent Republican Herbert Hoover in November 1932, at the depths of the Great Depression. FDR’s combination of optimism and activism contributed to reviving the national spirit. Working closely with Winston Churchill and Joseph Stalin in leading the Allies against Germany and Japan in World War II, he died just as victory was in sight.
Starting in his “first hundred days” in office, which began March 4, 1933, Roosevelt launched major legislation and a profusion of executive orders that gave form to the New Deal, a complex, interlocking set of programs designed to produce relief (especially government jobs for the unemployed), recovery (of the economy), and reform (through regulation of Wall Street, banks and transportation). The economy improved rapidly from 1933 to 1937, but then went into a deep recession. The bipartisan Conservative Coalition that formed in 1937 prevented his packing the Supreme Court or passing much new legislation; it abolished many of the relief programs when unemployment practically ended during World War II. Most of the regulations on business were ended about 1975-85, except for the regulation of Wall Street by the Securities and Exchange Commission, which still exists. Along with several smaller programs, major surviving programs include the Federal Deposit Insurance Corporation, which was created in 1933, and Social Security, which Congress passed in 1935.
As World War II loomed after 1938, with the Japanese invasion of China and the aggressions of Nazi Germany, FDR gave strong diplomatic and financial support to China and Britain, while remaining officially neutral. His goal was to make America the “Arsenal of Democracy” which would supply munitions to the Allies. In March 1941, Roosevelt, with Congressional approval, provided Lend-Lease aid to the countries fighting against Nazi Germany with Great Britain. He secured a near-unanimous declaration of war against Japan after the Japanese attack on Pearl Harbor on December 7, 1941, calling it a “date which will live in infamy“. He supervised the mobilization of the US economy to support the Allied war effort. Unemployment dropped to 2%, relief programs largely ended, and the industrial economy grew rapidly to new heights as millions of people moved to new jobs in war centers, and 16 million men (and 300,000 women) were drafted or volunteered for military service.
Roosevelt dominated the American political scene, not only during the twelve years of his presidency, but for decades afterward. He orchestrated the realignment of voters that created the Fifth Party System. FDR’s New Deal Coalition united labor unions, big city machines, white ethnics, African Americans and rural white Southerners. Roosevelt’s diplomatic impact also resonated on the world stage long after his death, with the United Nations and Bretton Woods as examples of his administration’s wide-ranging impact. Roosevelt is consistently rated by scholars as one of the greatest U.S. Presidents.