n person. "I pledge you," he told the delegates, "I pledge myself, to a new deal for the American people" (Leuchtenburg,114).Roosevelt toured the nation talking about economic reforms. He declared his total support for the system of capitalism but insisted that changes were needed to prevent dangerous revolutionary movements from developing out of the economic collapse. Hoover, on the other hand, opposed proposals for additional federal controls and stressed his belief that voluntary cooperation of individuals would restore prosperity. There was only one campaign issue: the economic depression (Leuchtenburg, 119).On election day, 1932, the nation gave Roosevelt a smashing victory, 22,809,038 votes to Hoover's 15,758,901. Hoover carried only six states, losing the electoral vote 472 to 59. The democrats also elected heavy majorities to both housed of Congress. "This is the greatest night of my life!" Roosevelt declared on hearing the election results. The nation wanted change and placed their faith in Franklin D. Roosevelt (Leuchtenburg,17).Between Election Day and the swearing on of the new president, the depression worsened. Numerous bank failures, the result of sudden panic by depositors, added to the growing alarm, over 5,000 banks had been forced to close, with a loss of more than 3.4 billion to depositors. By March 4, 1933, the day of the inauguration, banks were closed in all but two states. The financial crisis was at its worst point. Stock and grain markets were shut. Business lay stagnant. Hunger marchers paraded in New York City and Chicago as if in a ghastly mockery of the official ceremonies in Washington (Freidel,74). It seemed that all the fears brought on by the depression had come to a climax. Roosevelt's inaugural address gave hope to a disillusioned America. His assured tone and absolute confidence in recovery provided a needed tonic to a confused nation. The new president's encouraging voice urged imm...
