Examples Of President Hoover's Response To The Great Depression

Hoover also supported the Smoot-Hawley Tariff which was designed to place a tariff or tax on farm imports to the US. The idea was to protect US farmers from cheaper foreign farm goods. But the idea backfired as other countries raised tariffs and just caused the Great Depression to deepen.

Hoover was elected in 1928 and one year later the country was plunged into a great depression. Wanting to fix this great depression, Franklin Roosevelt purposed his New Deal. But this New deal had its flaws as well as being unconstitutional. But FDR did do good things as well. Some of these things were taking America off the gold standard.

People had no care for saving or cautious behavior with money. But when the stock market crashed consumers and businesses had little trust. Although the stock market crash has not been directly connected with the start of the Great Depression it did scare so many people that they ran to banks to withdraw what money they had left only to have banks soon fail. Banks had a major crisis at hand because they money they loaned out went into buying stocks. This crash had caused the banks to fail when people couldn’t keep up with their payments. Hoover had tried to help cushion the blow. He had tried to get business leaders to hold wages at a certain prices. He had also got the Federal Reserve involved by making open market purchases. He even tried to help those who were unemployed by stimulating construction work. This was the best he could do with the help he had. But obviously business leaders were more concerned with profit than wages because they were quick to cut wages down. Unemployment were reaching levels that were hard to match with work that the president was creating out of

Herbert Hoover, a former engineer, and millionaire who became the 31st U.S. President, had attempted to pass multiple laws to aid the country’s financial situation. Although his predecessors’ policies undoubtedly contributed to the crisis, which lasted over a decade, Hoover bore much of the blame in the minds of the American people. As the depression deepened, Hoover failed to recognize the severity of the situation. He undertook various measures designed to stimulate the economy, and a few of the programs he introduced became key components of later relief efforts.

Moreover, as a supporter of capitalism, he strongly opposed several direct interventions of the government in the affair of the struggling banks and individuals by letting the stock market crash and officially entered the depression. In the effort to fund loans to farmers and recreate a stable cooperation, Hoover extended the Federal Farm Board with the confidence that it could retrieve the farm price and diminish the surpluses. Unexpectedly, the subvention were misused by motivated farmers to grow more excess to the production, thus the price went lower than before. In addition, the international markets were also closed their doors on us by raising high tariffs in response to Hoover’s Smoot-Hawley policy which was initially introduced to aid domestic farmers by lessen the imports with the highest tariff rates in U.S

Herbert Hoover the son of a Quaker turned successful business person won the presidential election in November 1928, as representative to the republican party and truly a far-right wing conservative. Upon taking office President Hoover did not foresee the road of darkness ahead, and on October 29, 1929 the darkest road ever came to light. Labeled as Black Tuesday, the United States stock market crashed sending the country into a state of panic. In 1927, stock prices soared creating outrageous speculation of continued progressive growth. With extreme tax reductions, many American’s invested more heavily into the stock market, even in a weakening economy a recession did not seem on the brink. Amid harsh times with the stock market crashing, unemployment

When The Great Depression happened it left America in a major economic crisis. Herbert Hoover was the face of the Great Depression and “was considered the man who caused and did so little to stop the Great Depression” (LP169). Many nicknames and slang terms were made mocking the president’s efforts, such as Hoovervilles and Hoover flags. Herbert Hoover tried to reverse the Great Depression, but it was not until Roosevelt introduced the New Deal that America regained hope.

Hoover’s ideals in “efficiency, enterprise… individualism… [and] material welfare” were shared by most Americans until the crash led them to see Hoover as a cold, “symbol of disaster” (Hofstadter, 371). Hoover searched for causes of the depression in all places but the American economic system, which he deemed had “no major flaw” (Hofstadter, 395). By the end of 1931, however, Hoover realized that he needed to make major changes to amend the crisis and offers to Congress a set of proposals commonly referred to as “The Hoover New Deal” (Horwitz, 7). These proposals mainly gave more government support to federal banks and public works projects to help get the United States back on its feet (Horwitz, 7). Hoover was determined to “use the full resources of government, all the modern tools of the new economics, to push the economy out of the Depression”

From May 1929 to May 1933 Herbert Hoover served one term as the 31st president of the United States. Hoover was a member of the Republican political party. In his election, he won against Al Smith with 444 of the electoral college votes. A few months into his presidency, the Stock Market Crash occurred. Naturally, the United States as a whole started to look to the president and the government agencies for direction. There were many ideas that Hoover had that didn’t provide relief to the civilians during the Great Depression, they actually worsened the crisis. At some points, he rejected bills that would remedy some of the country 's problems, because he believed that the government should not play a huge part in the bettering of the country. This belief was called laissez- faire. (Herbert Hoover)

Although, they increased public work projects to tackle poverty and unemployment. This was a response to Hoovervilles populating most of the country after the stock market crash. President Hoover also proposed programs that resemble the programs in President Roosevelt’s New Deal. In 1931, President Hoover proposed the Reconstruction Finance Corporation, a Home Loan Bank, a Public Works Administration, more aid to Federal Land Banks, and direct loans to state governments for spending on relief for the unemployed.

When Herbert Hoover was campaigning for president, he promised “a chicken for every pot and car in every garage.”(History Hub) This is considered the biggest severed promise in political history. After Hoover was elected and after the Stock Market Crash, Hoover noticed the difference between growth as well as speculations. For one thing he begged substantial bankers to restrain the frenzy to buy stocks. In fact, Hoover warned that the stocks were getting out of hand, he tried to get journalists to write about the dangers. However, Hoover’s Secretary of the Treasury was against him in his views on the Stock Market. Although Hoover knew what was going to happen with the stocks moreover wanted America to know the disadvantages of the stocks, but no one would allow his points to be addressed. In addition he had laws passed to raise tariffs so Americans would buy American, this law did not even pass justly. Not to mention this hurt more than it helped the economy. For this reason an abundance of people believes that this caused the depression. In fact, Hoover was known as a “laissez-faire Republican”, because he did not do much to help stop the depression(History Hub). Notably he told companies to keep wages at the same prices, he caused an abundance of bankruptcy as well as terminated a mass of businesses. After this, the RFC(Reconstruction Finance Corporation) was founded, this helped support local and state businesses. Explicitly Hoover was considered to be “losing” at the end of his term. After Roosevelt was elected, he closed the banks for three days, so that they could get their policies together. This allowed them to reopen with stricter policies on what the public could withdraw at that time. The Depression caused plenty of organizations to be established, such as the FDIC (Federal Deposit Insurance Corporation), which ensures money back even if the bank

President Hoover even said that it was not really the federal government’s job to solve the problems. As a results of president Hoover not caring but the lives that the great depression was affecting. He simply “asked” the state governments to undertake public-works projects, he also asked big companies to keep workers pay steady and asked labor unions to stop demanding rises. His actions did not really do anything to help the suffering American of the 1930’s. Meanwhile, the unemployed workers of the 1930’s did whatever they could to survive by standing in breadlines and selling what they own or find to support their families.

He believed that the country would just recover on its own without any government assistance. Hoover believed that it was the individual responsibility of Americans to pull themselves and the country out of debt. He cut federal taxes to improve private investments and encouraged volunteerism. When that didn’t work, he created the Reconstruction Finance Corporation. The RCF provided federal loans to businesses and it was somewhat successful, but failed because it loaned too cautiously. Hoover’s approach towards repairing the US economy was not aggressive enough to fix the

The Great Depression had battered the nation and the economic situation was desperate. During Herbert Hoover’s presidency, more than half of all Americans were living below the poverty line. Herbert Hoover was an idealist that believed Americans could reach their potential and so he felt that intervention by the federal government would repress the American potential. Roosevelt understood the suffering of his countrymen and introduced economic reforms to alleviate the effects of the depression.

The presidency of Herbert Hoover was ended in 1933 and was succeeded by President Franklin D. Roosevelt who was much more active and radical. President Roosevelt was the governor of New York before he was elected as a president where he introduced some radical programs to relieve New York citizens from the Great Depression. During his presidency, he enlarges his radical scheme in the whole nation and stabilizes the economy of the nation. He calls his radical scheme the “New Deal” through which he addresses the three weak economic waves; agriculture, banking, and unemployment.