19 Dec Political Parties – The New Deal Coalition | 5
The 1929 stock market crash saw 14 billion dollars vanish in a matter of hours — and with it, the Republican party’s decades-long grip on American politics. As Americans lost their livelihoods, they turned to President Herbert Hoover for relief. But the self-made man who had so successfully reversed his own fortunes seemed unable to do the same for his country. With discontent growing, Hoover turned on World War veterans demanding early bonus payouts to support their families. It would prove the last straw for many Americans.
The landslide election of 1932 would mark a profound realignment in U.S. politics, bringing urban centers under Democratic control for the first time in the party’s history. And it would propel into the White House Franklin Delano Roosevelt, whose sweeping New Deal would permanently transform the American political landscape.
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