How Did Hoover Contribute To The Great Depression

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. president Franklin D Roosevelt passed law after law in order to help America gain back its economic worth. In the following paragraphs, Both Roosevelt and Hoover 's best and worst achievements will be

According to “Two presidents and the great depression” under the trickle down headline, “ Hoover now asked Congress at least to save the major economic institutions of the land: banks, insurance companies, railroads, etc. Congress responded by establishing the Reconstruction Finance Corporation and signed a bill authorizing $2 billion in spending in order to save businesses.” This shows that Hoover brought the actions to congress in order to save some businesses to help restore people’s confidence. According to “Two presidents and the great depression” Behind Hoover’s reluctance to spend federal dollars on the unemployed lay his belief in the need to keep the budget balanced. A deficit in the budget could be met only through levying more taxes and selling more federal bonds. An unbalanced budget, Hoover believed, could cause a lack of confidence in the credit and stability of the government” This tells how Hoover believed that the best way to overcome the economic deficient was to charge people with more taxes and to make more federal bonds, even after going over