What Did Hoover Do During The Great Depression

In the 1920’s, everything was going fine. However, all of that changed when the nation, (along with most of the world) went into an economic slump. The economy declined by more than 33% in the past four years. Unemployment stood at an unbelievable 25%, and thousands of businesses went bankrupt. The great depression was caused when the prosperity of the 1920’s was unsustainable because the foundation was shaky. Many Americans were buying items off of credit and would promise sellers that they’d pay their bills overtime. However, this resulted to millions of people going into debt. Then the number of sold items began to rise and soon citizens could no longer keep up. In 1932, the government began to get involved. They planned to create programs to help boost the economy. Herbert Hoover and Franklin Roosevelt were presidents during the great depression and responded to the economic crisis by making political, social, and economic changes. Roosevelt and Hoover reformed banks and guaranteed safe savings then they

According to “Two Presidents and the Depression” it states, “He asked neighbors to help one another and not rely on government aid.” Hoover's beliefs brought about social change because it lead people to maintain a positive outlook and an increase in the amount of confidence they had in the economy. With a gained amount of confidence, stock prices would rise, factories would open, and people would go back to work. The text states, “...when the Depression started, Hoover called business leaders to meet him in Washington. He then asked them to keep up production and not to lay off workers or cut wages.” Hoover's approach towards business leaders brought about social change because as he continued to take a step into making decisions and sharing his beliefs, he began to take the situation into his own hands by solving problems resulting a social impact on the