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How Did Hoover Contribute To The Great Depression

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Teddy Roosevelt: The 26th President of the U.S. He served from 1901 - 1909. He was born In New York City on October 27, 1858 and died on January 6, 1919. Roosevelt was known for his progressive policies and breaking up monopolies. Roosevelt was also known for his charismatic personality and his eagerness to explore the outdoors. Herbert Hoover: Herbert Hoover was the 31st President of the U.S. He served from 1929-1933. He was born on August 10, 1874, in West Branch, Iowa, and died on October 20, 1964, in New York City. Hoover was a successful businessman and engineer before entering the political scene. Hoover won the presidential election in 1928, but his term was marked by the Great Depression, which began shortly after he took office. …show more content…

It affected many countries around the world. There is not a single cause of the Great Depression, but many things and events that contributed to its onset. One of the contributions in relation to the Great Depression was the Stock Market crash of 1929. The Crash led to the loss of billions of dollars in value. This was a significant event that triggered the Depression. Another contribution towards the Great Depression was overproduction of goods. This eventually led to a decline in prices, reduced profits, a decrease in wages and employment. Unequal Distribution of Wealth also triggered the Great Depression. The majority of wealth was in the hands of a few; this resulted in reduced purchasing power of most Americans. This led to decreased demand for goods and services. Lastly, one of the major contributions to the Great Depression was the failure in banks. The failure of banks led to the loss of savings, a reduction in available credit, and a decrease in consumer confidence. President Herbert Hoover's administration was also greatly blamed for the Great Depression. His policies were seen as inadequate in addressing the economic crisis. However, I think it is important to know that the Great Depression was a complex tragedy. For me it is difficult to point the blame at a single administration. The effects of the depression were felt long after Hoover's presidency. It also took a combination of government policies and outside factors, such as World War II, to bring the country out of the depression. However, if I did have to put the blame on one administration during the Great Depression I would place it on Hoover only because he didn’t intervene into the economy and because of his loyalty to the laissez- faire economic principles which did nothing to help the depression. The New Deal was a series of programs and policies implemented by President Franklin D.

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No matter if a country was considered rich or poor, the Great Depression had devastating effects. The unemployment rate increased dramatically, going from 3% to 25%. For the people who were lucky enough to still be employed during this horrible time, their wages fell 42%. However, the crash of the stock market is not the only thing that caused the Great Depression. In the middle of the 1930’s, a severe drought struck and it ruined much of the agriculture of the United States, which was known as the Dust Bowl.

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Many blame Herbert Hoover for the Great Depression, but this is a false statement because he stepped into office at the worst time. He had to immediately formulate new policies that would help the US retreat from the Great Depression. He served one term from 1929 to 1933. One item that made him well known for his presidency were the camps that housed the unemployed and the poor, called Hoovervilles. These “shanty towns” were normally on the outskirts of major cities and towns, so the community was close enough to still walk into town.

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 Hoover is often blamed for not doing anything to end the Great Depression, but he actually did try to use the government to create infrastructure projects, thus creating jobs. Like the Hoover Dam and the Reconstruction Finance Corporation to try to end the Depression. There are two major differences between their approaches.  One is that President Roosevelt was willing to do more than President Hoover to combat the Great Depression.  Roosevelt was willing to let the government become more involved in the economy.

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Economic involvements had a bigger impact on the great depression. The great depression was a time of need for the Americans. Due to the supplies and accessories shipped out during the war, America was low on supplies, money and control, and president Herbert Hoover did very little in an attempt to overcome this problem. Men and women were driven into what were called Hoovervilles, which was a collection of teepee huts gathered together to make a community. Just as the people thought they had hit rock bottom, a switch of presidents helped make all the difference.

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As you may know, The Great Depression was one of the worst economic downturns in U.S. history. There are many debates on what caused The Great Depression some examples are, corporate leaders blame the depression on the result of a lack of business confidence in businessmen and how they were reluctant to invest because they feared the government regulations and high taxes. The Hoover administration blamed international economic forces therefore which should stabilize the currency and debt structure. New dealers argued that the depression was due to under consuming and that low wages and high prices had made it difficult to find a product of the international economy and that the lack of determination had led to economic collapse. But I also believe that the main factor of the Great Depression was the stock market crash of 1929.

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Herbert Hoover’s presidency is associated with the Great Depression seeing that eight months into his term, the stock market collapsed starting an economic depression that would leave 23% of Americans unemployed by 1932. Hoover failed to take the actions needed to help the country initially, however in his annual speech to Congress in 1932, Hoover discusses three directions in which the government can take to aid the rebuilding of the economy. When the United States Stock Market crashed in October 1929 and the country began its ten year Depression, businesses and banks began closing left and right. This caused many Americans to lose their jobs and created massive amounts of poverty throughout the country. Prices became inflated and simple,

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The Great Depression was a complex event caused by a variety of factors. The six factors of the Run on the Banks, the Stock Market crash, the uneven distribution of wealth, problems for business and industry, problems for farmers, and the overuse of credit all played a role in the start of the Great Depression. All of these factors were an important factor in helping start the Great Depression. However, the overuse of credit was the most important factor of them all because it led to people relying on loans, too many payments for the consumer to adequately keep up with, and the economy eventually drying up once the influx of money stopped.

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He was a popular choice for president in 1928 because he made well known speech how he was going to help them get out of poverty if the people chose him, causing him to get the majority vote and run from 1928 to 1933. Franklin D. Roosevelt was another

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What Caused the Great Depression? The Great Depression was a devastating tragedy that changed our economy. In the U.S, the Great Depression shortly happened after the stock market crash in 1929. This sent Wall Street into a great panic and wiped out millions of investors.

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President Hoover did try to stop the Great Depression from happening; he didn 't just sit at home and do nothing. He was concerned even before the stock market grew shaky. He believed stock market prices were too high. Nobody wanted to listen to him then, but when the stock market did crash, it was all Hoover’s fault. "The real trouble was that the bellboys, the waiters, and the host of the unknowing people, as well as the financial community, had become so obsessed with the constant press report of great winnings that the movement [stock market investment] was uncontrollable” (Blumenthal 51).

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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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The Great Depression was caused by speculation and installment buying, income maldistribution, and overproduction because each of these factors combined made the economy worse before and after the stock market crash, which led to The Great Depression. Speculation and installment buying helped caused The Great Depression because people were buying so much stuff on credit, when

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There were a variety of causes that caused the Great Depression, but the main cause that started it was a decrease in spending. This led to production decrease because manufacturers and merchandisers did not want to have unused items just sitting on the shelves. In October of 1929 the stock market crashed. The United States stock prices had reached levels that could not be justified by sensible predictions of future earnings. The results of this were catastrophic.

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Herbert Hoover the 31st president of the United States is held by many economists as a cause for the Great Depression(facts about the Great Depression). This is because they believe he didn 't realize the severity of the issue and he did nothing for it(history.com). He took office in 1929 and in the election of 1932, he lost drastically too Franklin D.Roosevelt. After Roosevelt was elected he had different ideas too get the country out of the Depression. One of those ideas was the Great Deal which was a program designed too help those affected by the Great Depression.

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Nishat kazi (Muniya) 11th grade The Great Depression was one of the worst downturn of economy in the history that took place during the 1930s. It had a catastrophic effect in countries on both rich and poor. Though there are a lot of causes behind the Great Depression,the main three causes were-1.Bank failure 2.Stock market crash 3.laissez faire.

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