Reincarnated as Nikolai II

Chapter 279: Where Is My Friend (1)

Whatever else, the stock market crash is the responsibility of the giant capitalists.

At least that's what the citizens thought.

"Punish the criminals! Punish the criminals!"

"We don't want cartels! Is this a free market?"

"Why aren't you eliminating cartels when you get rid of good monopolistic companies!"

As a result, the anger of the unemployed and impoverished middle class could only be directed toward the liberal-right.

An irresponsible government that neglected the market and the businesses colluding with it.

Perhaps in this country, which traditionally advocated for small government and put forward laissez-faire principles under the pretext of freedom, the level of corporate corruption might be close to natural decay, hardly worth calling a scandal.

But now it's the Great Depression.

This is an era where citizens' anger and resentment are exploding.

Roosevelt's election had this background.

"FDR is a commie! He's a commie sponsored by the British Labour Party!"

"But he says he'll implement farmer support, full employment, unemployment insurance, and old-age pensions?"

"Then honestly, does it matter if he's a commie? At least New York, which was the worst off, seems to be moving again."

Though his image might have become somewhat more leftist, the Democratic victory was certain.

No matter how much anyone criticized Roosevelt and the Democratic Party:

"At least that man won't push us away with tanks."

"No matter what... he's better than Hoover."

Hoover's act of sweeping away protesters with the Pennsylvania military not only affected veterans but also instilled a tremendous sense of crisis in those who were unemployed in this situation, or citizens who could lose their jobs at any moment.

To the uninformed public, it was clear that Hoover was on the side of big capitalists rather than workers.

So did Roosevelt take power easily? That's not the case.

First, he won the election overwhelmingly with 472 to 59 electoral votes and entered the White House, but...

"The unemployment rate is 25%. Agricultural prices have fallen 60% more during my time as governor. There are 2 million homeless people in major cities alone."

"The chain of bank failures continues even now."

"Those who would acquire legally bankrupt companies have all disappeared. It seems they're unwilling to acquire them since loans aren't being issued."

Hoover's incompetence not only failed to solve problems but amplified them.

Didn't they say Hoover spent all four years blaming Wilson and the Democratic Party?

While no successor would refrain from criticizing their predecessor, Roosevelt felt exactly that way now.

'What the hell did this guy do for four years?'

1930 was harder to live in than 1929.

1931 was worse than 1930, and 1932 was worse than 1931.

It's fair to say that this country had been on a downward path for four straight years.

Can you believe that the stock market prices in 1933 were the same as immediately after the Great War in 1919? Even this represents a decline when inflation is considered.

What's done is done, and he was in a position where he needed to fix things.

As soon as he transitioned from president-elect to president, Roosevelt made a bold move.

"Close the banks for four days."

"What? Forcibly preventing withdrawals will destroy financial credibility, beyond just lowering it!"

"And everyone who opposes this plan should clear their desks by tomorrow."

From the start of his first cabinet, as someone who had won the Senate, House, and cabinet solely through elections, he showed no hesitation in wielding power.

Though they might flatter and adulate, he valued those who remained loyal.

Conversely, no matter how competent, if they were full of stubbornness and acted according to their own will, he removed them.

"My fellow citizens, I was destined to possibly die from birth. My mother overdosed on chloroform during labor, and an elderly doctor performed artificial respiration on me as a newborn. But my trials did not end there. One day in 1921, while on vacation with my family on Campobello Island, I woke up in the morning to find no feeling in my legs. Yes, it was polio."

In exchange, he never lost the people's support.

In this democracy, the source of all power ultimately comes from public sentiment and popularity.

"But even two near-death experiences couldn't stop me. In the end, I'm still alive and breathing, and these two legs are still traveling all over this country!"

Fireside chats broadcasted by radio after closing all banks.

This radio broadcast, filled with warm and hopeful stories unlike this crumbling country, helped spread FDR's optimism.

Meanwhile, Roosevelt continued to talk about his difficult times in these fireside chats, constantly telling the people:

That he had overcome everything.

So this economic crisis, and your personal difficulties too.

Everything will be alright.

And when the banks reopened on Monday, March 15th:

"The banks' stock prices rose 15% in just one day?"

"Yes, deposits are returning! Money is filling the bank vaults!"

"...This should make loan evaluations possible again, right?"

Roosevelt became more than just a 4-year president.

From then on, he became unrestrained as president.

"The entire country wants the National Industrial Recovery Act (1933: NIRA) to pass for the New Deal!"

"The government will intervene and mediate all major labor-management conflicts from now on!"

"We are establishing the Agricultural Adjustment Administration. The terrified market is currently unable to set appropriate agricultural prices!"

There was no shortage of criticism.

"Agricultural Adjustment Administration? They're giving money to farmers not to farm and not to raise livestock? How could such a policy succeed!"

"This is a completely foolish policy! It's bound to fail when the administration's budget runs out!"

While the intention of having the nation support the market from the bottom up might be good, it's not a long-term policy.

Anyone could see it was a myopic endeavor that would end as soon as the money ran out.

But FDR had conviction.

'We just need to get through this crisis. If we endure now, good days will inevitably return!'

If the NIRA bill prevents meaningless domestic competition.

If producers and consumers can be satisfied at reasonable prices through adjustment administrations and associations, rather than a shattered market. comment

Finally, if this revitalizes people's livelihoods and money starts circulating in the market.

This country will recover.

While everyone doubted America's recovery, FDR was full of confidence.

And if they could just get through this crisis...