Franklin D. Roosevelt - 1932 Presidential Election

1932 Presidential Election

Roosevelt's strong base in the most populous state made him an obvious candidate for the Democratic nomination, which was hotly contested in light of incumbent Herbert Hoover's vulnerability. Al Smith was supported by some city bosses, but had lost control of the New York Democratic party to Roosevelt. Roosevelt built his own national coalition with personal allies such as newspaper magnate William Randolph Hearst, Irish leader Joseph P. Kennedy, Sr., and California leader William Gibbs McAdoo. When Texas leader John Nance Garner announced his support of FDR, he was given the vice-presidential nomination.

In his acceptance speech, Roosevelt declared:I pledge you, I pledge myself to a new deal for the American people... This is more than a political campaign. It is a call to arms. The election campaign was conducted under the shadow of the Great Depression in the United States, and the new alliances which it created. Roosevelt and the Democratic Party mobilized the expanded ranks of the poor as well as organized labor, ethnic minorities, urbanites, and Southern whites, crafting the New Deal coalition.

Economist Marriner Eccles observed that "given later developments, the campaign speeches often read like a giant misprint, in which Roosevelt and Hoover speak each other's lines." Roosevelt denounced Hoover's failures to restore prosperity or even halt the downward slide, and he ridiculed Hoover's huge deficits. Roosevelt campaigned on the Democratic platform advocating "immediate and drastic reductions of all public expenditures," "abolishing useless commissions and offices, consolidating departments and bureaus, and eliminating extravagances" and for a "sound currency to be maintained at all hazards." On September 23, Roosevelt made the gloomy evaluation that, "Our industrial plant is built; the problem just now is whether under existing conditions it is not overbuilt. Our last frontier has long since been reached." Hoover damned that pessimism as a denial of "the promise of American life ... the counsel of despair." The prohibition issue solidified the wet vote for Roosevelt, who noted that repeal would bring in new tax revenues.

Roosevelt won 57% of the vote and carried all but six states. Historians and political scientists consider the 1932-36 elections a realigning election that created a new majority coalition for the Democrats, made up of organized labor, blacks, and ethnic Americans such as Italian-Americans, Polish-Americans and Jews. This transformed American politics and starting what is called the "New Deal Party System" or (by political scientists) the Fifth Party System.

After the election, Roosevelt refused Hoover's requests for a meeting to develop a joint program to stop the downward spiral and calm investors, claiming publicly it would tie his hands, and that Hoover had all the power to act if necessary. Unofficially, he told reporters that "it is not my baby". The economy spiraled downward until the banking system began a complete nationwide shutdown as Hoover's term ended. In February 1933, Roosevelt escaped an assassination attempt by Giuseppe Zangara (whose shots killed Chicago Mayor Anton Cermak sitting alongside). Roosevelt leaned heavily on his "Brain Trust" of academic advisers, especially Raymond Moley, when designing his policies; he offered cabinet positions to numerous candidates, but some declined. The cabinet member with the strongest independent base was Cordell Hull at State. William Hartman Woodin – at Treasury – was soon replaced by the much more powerful Henry Morgenthau, Jr.