Printed Page 657 Chapter Chronology

Launching the New Deal

At noon on March 4, 1933, Americans gathered around their radios to hear the inaugural address of the newly elected president. Roosevelt began by asserting his "firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance." He promised "direct, vigorous action," and the first months of his administration, termed "the Hundred Days," fulfilled that promise in a whirlwind of government initiatives that launched the New Deal.

Roosevelt and his advisers had three interrelated objectives: to provide relief to the destitute, especially the one out of four Americans who were unemployed; to foster the economic recovery of farms and businesses, thereby creating jobs and reducing the need for relief; and to reform the government and economy in ways that would reduce the risk of devastating consequences in future economic slumps and thereby strengthen capitalism. The New Deal never fully achieved these goals of relief, recovery, and reform. But by aiming for them, Roosevelt's experimental programs enormously expanded government's role in the nation's economy and society.