Hoover Economic Failure

Thesis: Hoovervilles were named after President Herbert Hoover because the American people felt he was responsible for the Great Depression, although the irresponsibility of brokers, bankers, and other people in power contributed greatly.

Hooverville is a nick name for groups of tin cardboard shacks built by homeless/unemployed families during the great Depression of the early 1930s. It was named president Herbert Hoover didn’t put his best to fixing the economy during the great Depression. In here you’ll see the inconveniences of living in a Hooverville or shantytown including pictures and

The stock market collapse was one of the most important events, in the country economy during 1929, which led the Great Depression. Before October 29, 1929, most Americans believe that stock was the key to success and fortune. John T. Raskob affirms his belief that everyone could be

From successful businessman to mining entrepreneur, Herbert Hoover has accomplished many things including becoming the 31st president of the United States of America. Herbert Hoover left his mark on our world in many ways. For example, he is credited for his great work with the Commission for Relief in Belgium (CRB) to the naming of our national anthem. (Herbert Hoover). Yet in contrast, blamed for the fall of a nation. In accessing this president from the building of his personal wealth, his service to our country, and leadership during the great depression, will history reveal Herbert Hoover a success or a failure?

The great depression kept going on. Millions of Americans were homeless and jobless. Soup kitchens were popping up everywhere there were people. The people started to turn to the government for help. But America's 31st president, Herbert Hoover, didn't think so. While many people believed that relying on the government was the answer, Hoover thought that self-reliance and relying on each other would relieve them of this economic crisis, not government intervention. And as the people kept prying, Hoover kept refusing. Desperate for a place to call home, and knowing that the government wasn't going to do anything to help, Americans and their families started building shantytowns in cities and in different places around them. They soon became

“The homeless and unemployed people settled in camps of shacks and tents. Hoovervilles is what we call them. Named after Herbert Hoover, the US president during the start of the Depression. This is where I live.”

With the public work programs, Hoover provided unemployed Americans with many different jobs in order to create some sort of income. The most famous of these programs was the Boulder Dam, which will be talked about later. Throughout the entire depression, Hoover stood on his belief of a hands-off government until late in his presidency. Under pressure from Americans and his fellow politicians, President Hoover eventually gave in and signed an act granting money and/or food to areas in dire need. That was the extent of his direct relief.

Franklin D. Roosevelt was elected and brought the economy back from the dead so to say. FDR

During Herbert Hoover’s administration any mistakes were made after the Stock Market crash. After the crash during the depression Hoover took action but made a few mistakes along the way. Many of Hoover’s acts were passed by congress and signed by Hoover himself. His worst offense was the Smoot-Hawley Tariff, which raised tariffs. The raising of tariffs was the worst possible thing that could have occurred. Hoover tried his best to reassure the country that the economy would become improved, although it actually worsened. To improve things after the crash Hoover prepared all Federal Departments to speed up public works. He did this with hopes to generate supplementary jobs and bring back the economy. As well, Hoover asked congress if they would reduce spending, and use what was no longer required to restart public works. Unfortunately for Hoover a collapse in Europe and a change in foreign trade caused prices for United States manufactured goods and farm equipment. After this occurrence President Hoover asked congress once again for more money, his time he wanted the money for farm loans and to establish the Reconstruction Finance Corporation, which would be used to help buildings in need as well as banks and railroads. With all of Hoovers efforts by July 1932 the Depression began

Herbert Hoover served as the thirty-first President from 1929 to 1933 where he was succeeded by Roosevelt. Hoover was the United States President during a troubling time for many Americans; the Great Depression. Hoover gained a “reputation as a humanitarian in World War I by leading hunger-relief efforts in Europe as head of the American Relief Administration” (biography.com). Hoover was also the U.S. secretary of commerce before he served time in office. Hoover was a known humanitarian and organized many relief efforts. Hoover has many other published works such as The Memoirs of Herbert Hoover: The Cabinet and the Presidency, The Challenge to Liberty, The Problems of Lasting Peace, The Ordeal of Woodrow Wilson, Principles of Mining, and Fishing

The election of 1928 was between Herbert Hoover and Alfred E. Smith, in which Hoover became the 31st president of United States. He kept optimism of the 1920’s afloat, convincing majority of Americans that the economic health would remain stable. At the time, Dow Jones Industrial Average was the most commonly used barometer of the stock market’s success. With stock prices rising, people rushed to buy as many as they could. However, many fell into the trap of speculation, in which stocks were bought without thinking of the risks. People even began buying on margin, in which people would pay a little pick of the stock price, but then borrow the rest of the money. This not only caused many to go into debt, but caused the stock market to slowly decline.

Hoover’s response to the Great Depression was influenced by his philosophy and were limited in scope.

On the tedious days of October 1929, one of the longest economic hysteria’s began that changed the world as we know it. Starting in the United States, and later on consuming the entire nation worldwide; the great depression uprose in the industrialized western world. There was not a single factor that caused the depression, yet a combination of events. In autumn of 1929 the great bull “ market began to fall apart, first on the 29th of October and again on the 23rd”. To restore the public’s confidence in stock companies and big bankers they decided to conspicuously buy up the stocks in an effort to save the market. This failed; “sixteen million shares of stocks were traded; the industrial index dropped forty-three points; stocks in many companies

make banks fail to re-open so that congress reforms on legislation and to check if banks

In the early 1930s, President Franklin Delano Roosevelt instituted a plan called the New Deal. This plan had three main goals, relief for the impoverished, recovery from the depression, and reform laws and regulations for the economy, to ensure an economic failure of this proportion will not happen again. Although the New Deal had its successes, during the New Deal, taxes skyrocketed, people became dependant on the government, and the national debt increased to unrecoverable numbers.