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Hoover Dbq

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Research Question: Did Hoover as a president accomplished anything to save American’s economy during The Great Depression?

Research Paper

Jamie Tieliang Yang

US History

Period 6

April 9 2015

Ms. Hilaman

Windermere Preparatory School

Word Count – 1454

Table of Contents

Page
A. Plan of Investigation…………………………………………………..2
B. Summary of Evidence………………………………………………...2
C. Evaluation of Sources…………………………………………………4
D. Conclusion…………………………………………………………….5
E. Works Cited………………...…………………………………………7

A. Plan of Investigation Herbert Clark Hoover, the 31st president of the United States from 1929 to 1933. Hoover is considered as a very intelligent and successful …show more content…

The Glass-Steagall Act of 1932 permitted the use of government securities to back Federal Reserve notes. It also separated personal and investment banking. During The Great Depression, many banks were involved in personal and investment banking. Investment banking is much riskier than personal banking so problems in the investment banking business effected the personal banking business. However, Glass-Steagall had much less impact than Hoover originally thought because it was too late. Many banks had collapsed or were substantially injured as the result of Black Tuesday. But it did have a little impact (Nash 334-336). The National Credit Corporation was composed of the major banks in the United States. NCC’s main goal was lending money to small banks in the United States in order to minimize the repercussions of the smaller bank’s crash. However the major banks did not want to lend money to the smaller banks because they were having problems themselves (Nash 336-337). Hoover realized the NCC did not make enough of impact on the problem. He then initiated the Reconstruction Finance Corporation, which was authorized to lend up to $2 billion to banks and other financial institutions. Although it marked a significant new departure, the RFC disbursed money slowly, advanced loans largely to the largest banks and institutions, and did very little to shore up the banking system (Colleen 338-341). According to Colleen “Until the presidency of FDR, the RFC started to expansion and effect American’s economic more.” (Colleen

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