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Herbert Hoover During The Great Depression

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Many people believe that The Great Depression began when the stock market crashed on October 29, 1929. In the mid to late 1920’s the stock market grew majorly, the stock prices skyrocketed gaining interest from all kinds of people. As stock prices continued to rise, the market became very poplar. Eventually the stock prices started to fall during September through early October, and by October 24 the market was starting to crash. On “Black Thursday” (October 24,1929) 12.9 million shares were traded in order for investors to save what little money they could. When the market actually crashed, millions of shares became worthless and investments were lost. Within a week from “Black Tuesday” the market lost $30 billion leaving millions of people …show more content…

Herbert Hoover was the president when the Great Depression began. President Hoover believed in a limited role of government and that the people should be independent. He also believed that any help should be voluntarily; most of his so-called “solutions” involved him asking others to do things to help the people suffering. For example, he asked big companies to keep wages steady, and state governments to undertake public work programs. Many people blame him for not stepping in more and trying to lessen the effects of the depression. The government started changing for the better when Franklin Roosevelt was elected president in 1932. Within Roosevelt’s first one hundred days in office he announced a four-day bank holiday, in which Congress passed the Emergency Banking Relief Act to stabilize the banking system. He put into place “The New Deal”, which was a series of programs that were created to lessen the suffering of the people affected by the great depression. Programs like the AAA (Agricultural Adjustment Administration) were created in order to help farmers that were affected by not the only the depression but also by the dustbowl. The New Deal also consisted of programs like the Federal Deposit Insurance Corporation (FDIC) to protect deposits that were made and the Securities and Exchange Commission to make sure we never had a repeat of what happened to the stock market in 1929. President Roosevelt’s New Deal did help, but it did not end the Great Depression; people were still unemployed and the economy was still suffering. This lead Roosevelt to launch the Second New Deal, a new set of federal programs that were focused on helping the people. He created the Works Progress Administrated that created jobs for unemployed citizens and worked on building things like bridges, highways, and schools. In 1935, the Social Security Act was passed, this paid money to elder Americans, disabled and the

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The programs created by the New Deal satisfied the needs of citizens, even though several thought Roosevelt was overstepping his power. Roosevelt’s administration was not very effective in ending the Great Depression, however, some of the programs did help relieve

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Hoover was not interested in the affliction caused by the Great Depression. In fact, people’s way of life started deteriorating as they had no support from the government. His inability to face national upcoming crisis was a mistake to the US economy and the way down to massive depression. Hoover marked into law the Smoot-Hawley Tariff Act, which prompted an emotional decrease in global exchange; and also consenting to impose increments on homes, organizations, and checks. His business profession, and individual convictions, made him ill-suited to giveaway effectively with a monetary calamity as desperate as the Great Depression.

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The Great Depression was a severe worldwide economic depression that took place during the 1930s. The article by Edwin Gay and pictures compiled by Cary Nelson are both descriptions of how the Great Depression was and the several impacts that it had on the American economy. The range of the great depression is unprecedentedly wide according to Edwin Gay. The great depression was believed to have started from the collapse of the US stock market in 1929. This was shown in a picture as compiled by Cary Nelson

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Roosevelt. They both had different responses to the problems of the great depression. Hoover believed in indirect action; he thought that the government was in charge of encouraging voluntary cooperation, guiding relief measures but not directly running them, and asked businesses to retain workers and continue production. Hoover limited the government spending, set up committees, and created the Hawley-Smoot Tariff in order to protect farmers and manufacturers, but it did not work. Hoover didn't do enough, but he did help the great depression by establishing the Reconstruction Finance Corporation (RFC), which authorized loans for banks, railroads, ect, and helped with housing by creating the Federal Home Loan Bank Act (FHLA), that helped lower the cost of house ownership.

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During his first term in office, he took on programs and policies to relieve the effects of the depression, collectively known as the New Deal. During this time, many social policies were passed to specifically aid the working class. Some of the acts Roosevelt implemented were the Glass-Steagall Act, the Federal Deposit Insurance, the Securities and Exchange Commission, the Home Owners Loan Corporation, the Works Progress Administration, the National Labor Relation Board, and Social Security. All of these acts were put in place to aid the working class, and prevent the severity of future depressions. The outcome of the New Deal gave a new role for the federal government, which is the partial responsibility for the people’s financial

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The Great Depression began with the famous stock market crash known as “Black Tuesday” and later went on to rapidly develop into one of the most dramatic economic declines in the history of Westernized society. Two of the main causes of the Great Depression were the abuse of the stock market and the general distrust of banks instilled within the American public, which led to the decline of the American economy. President Herbert Hoover, elected in 1928, was a firm believer of rugged individualism and that the economy has natural cycles, which prompted him to employ a “wait and see” approach with the American people when the Depression hit. Soon after, President FDR won the 1932 election by a landslide and enacted a collection of programs

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The Great Depression was a time during 1929 to 1939, It was the longest lasting economic disaster. The two presidents in term during this crisis, Franklin D. Roosevelt and Herbert Hoover, approached this problem in different ways. Hoover’s idea on this was to have private citizens help each others, while Roosevelt believed the government should take care of its people with social programs. Looking at these ideas in more depth we can infer ways our country should go. Herbert Hoover served as president during 1929 to 1933.

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Millions had lost their jobs, their homes and they were hungry. The nation was in crisis and Roosevelt took advantage of this situation. During the 1932 presidential election, Franklin Delano Roosevelt promised a “new deal for the American people.” Roosevelt sent Congress several proposals to fight the Depression. These proposals collectively would become known as the New Deal.

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During the Great Depression, my family and I went through difficult times for about ten years. I was unemployed and couldn’t pay for our home. In result, we became homeless and we don’t know where to go. Though some families allowed us to move in together under one roof, sometimes allowing strangers in homes can bring some difficulty and stress so I declined. So, because of this we are forced to live in squatter settlements called Hoovervilles (shacks that housed millions of unemployed).

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President Hoover did try to end the great depression and in fact probably did more to deal with than any preceding president has ever done in time of economic catastrophe (Yellow). Bill Clinton tested everything that Hoover did to help with the depression (purple). Some people thought that Hoover was temperamentally and morally incapable of approaching policies (purple). Hoover was one of the most active intervener in the economy (blank). Hoover was the head of wartime foods administration (blank).

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In 1933, Franklin D. Roosevelt became the president of the United State after President Herbert Hoover. The Great Depression was also at its height because President Hoover believed that the crash was just the temporary recession that people must pass through, and he refused to drag the federal government in stabilizing prices, controlling business and fixing the currency. Many experts, including Hoover, thought that there was no need for federal government intervention. ("Herbert Hoover on) As a result, when the time came for Roosevelt’s Presidency, the public had already been suffering for a long time.

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He believed that it was the people’s responsibility to get themselves out of the depression since they got themselves into the mess in the first place. President Franklin D. Roosevelt on the other hand would interact with the people of America during the depression, FDR would actually get on the radio every week and talk to the people about what he had planned for them. The New Deal was FDR’s plan and It was designed to give people their jobs back and reduce the amount of the unemployed people in the U.S. However, the New Deal wasn’t specific on how it’d give the jobs back in fact the New Deal actually catered to white people, black people were stripped of their jobs and were replaced by white people.

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America had experienced other depressions or “panics,” but none were like the Great Depression. The Great Depression began on October 29, 1929, Black Tuesday, with the stock market crashing. Most people believe that the cause of the Great Depression was the stock market crashing. Although that is what triggered the Great Depression there were many underlying causes that lead up to the stock market crashing. Some of the underlying causes include under-consumption/over-production, uneven distribution of wealth, loose banking and corporate regulations, tariffs policies, and the stock market.

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Hoover wasn't sure about the depression so he wrote a letter to the governor of Illinois, Louis L.Emmerson. Emmerson wrote back saying that United States was in debt. The truth hit Hoover, he tried very hard to help the depression go away. People started to blame Hoover for the great depression. One of Hoover’s famous quotes was: “Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself”

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Many people wonder what the New Deal really did for the American people. The New Deal was a series of national programs proposed by President Franklin D. Roosevelt. The New Deal programs happened during 1933-1938, right after the Great Depression. The New Deal had a very positive effect on the people of America by creating new jobs, gaining trust in banking systems, and getting freedom from the effects of the Great Depression.

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