The situation that characterized the WWII can best be understood by reviewing the subject in the reference to the society, economy and politics of the day. The policies and some legislation enacted during this period were of great implication. In particular, the leadership approach assumed by the influential stakeholders shaped the course of the war. It is arguable that the FDR was excessively liberal. Exploring the situations that characterized some important undertakings such the ‘Letters from Frances Perkins’ and ‘Glass-Steagall Act’ would be essential in informing this topic.
Society: Frances Perkin’s letters can be thought as the force attributable to the social security. The social safety that the society came to witness later is pertinently linked to her effort and activities. It is acknowledgeable that social security is one of the major achievements of the FDR’s leadership. However, it is apparent that this achievement would never have been realized without the passionate effort of his secretary-Frances Perkin. For instance, investigations indicate that Perkins often acted against the FDR’s ideologies to develop a fair plan that would guarantee the welfare of the American citizens. Reputable sources often note that Perkin she “virtually forced the President to have a Social Security program” (Covert). She regularly advocated and put the government under pressure to legislate and adopt prominent laws that would safeguard the interest of American workers. She was always keen to highlight the need and urgency for instituting such policies.
Economy: The America’s 1933 economic challenges prompted the need for the enactment of the Glass-Steagall Act. The State was experiencing high levels of unemployment, and the banking system was facing a crisis. In this respect, numerous banks closed down, and the overall America’s economy was under serious threat. The Glass-Steagall Act attempted to correct the country’s economy by addressing the problem of speculative abuses by commercial banks that happen in earlier years before the collapse of the stock market and financial fear of 1929-1933. Numerous banks, particularly the national banks channeled their funds in speculative securities. Furthermore, they engaged in the investment banking with the customary ideology of the idea of purchasing the original issue to resale later to the public (Northrup 204).The Act, therefore, targeted to bringing sanity in the sector by addressing these evils.
Political: Roosevelts’ administration effort to address the situation included the enactment of legislations that would regulate the banking activities. The Glass-Steagall’s Act primarily characterized two major undertakings. Initially, the government adopted the Glass-Steagall Act of 1932 that empowered the Treasury with the authority of balancing its account. The second approach included the adoption of the Bank Act of 1933, which set the regulated that separated the banking and securities enterprises. Furthermore, it provided the foundation for the execution of the regulations that authorize the Federal Reserve to allow banks to trade in the securities in a limited manner (Northrup 205).
Perkin was an influential force in the FDR’s politics. Roosevelt’s administration acknowledged her intelligence, wisdom, and no-nonsense approach when serving as the Industrial Commissioner. When the country started facing the crisis in 1929, she aggressively forced FDR to act. She is identified as the first governor to pressure the government to prioritize the issue of unemployment in America—describing it as a major national problem. Perkins realized high publicity when she openly challenged President Hoover’s ideology on rigorousness of the State’s economic and unemployment crisis (Covert). The FDR administration was proud of her courage and wisdom, thus was always keen on her suggestions.
Works Cited
Covert, Bryce. “Frances Perkins: The Force Behind Social Security.” Roosevelt Institute. Web 13th April. 2016. http://rooseveltinstitute.org/frances-perkins-force-behind-social-security/
Northrup, Cynthia C. The American Economy: A Historical Encyclopedia. Santa Barbara, Calif: ABC-CLIO, 2011. Print.
