The importance of Franklin Delano Rossevelt's presidency can be witnessed from many different fields. Assuming the Presidency at the depth of the Great Depression, Franklin D. Roosevelt helped the American people regain faith in themselves. He brought hope as he promised prompt, vigorous action, and asserted in his Inaugural Address, "the only thing we have to fear is fear itself." Despite an attack of poliomyelitis, which paralyzed his legs in 1921, he was a charismatic optimist whose confidence helped sustain the American people during the strains of economic crisis and world war. "I pledge you, I pledge myself, to a new deal for the American people," said Franklin Roosevelt. With that he was elected President in November 1932, to the first of four terms. By March there were 13,000,000 unemployed, and almost every bank was closed. In his first "hundred days," he proposed, and Congress enacted, a sweeping program to bring recovery to business and agriculture, relief to the unemployed and to those in danger of losing farms and homes, and reform, especially through the establishment of the Tennessee Valley Authority.The most important reform was the Tennessee Valley Authority (TVA), instituted in 1933. This public corporation built multipurpose dams to control floods and generate cheap hydroelectric power. It manufactured fertilizer, fostered soil conservation, and cooperated with local agencies in social experiments. The TVA reflected Roosevelt's commitment to resource development and his longstanding mistrust of private utilities.At first, his legislative requests were conservative. He began by securing passage of an emergency banking bill. Instead of nationalizing the banks--as a few reformers wished--it offered aid to private bankers. A few days later the president forced through an Economy Act that cut $400 million from government payments to veterans and $100 million from the salaries of federal employees. This de...
