How Did Herbert Hoover Respond To The Great Depression – Herbert Hoover on the Great Depression and the New Deal, 1931–1933 Spotlight on Herbert Hoover’s primary sources.
The stock market crashed on Thursday, October 24, 1929, less than eight months into Herbert Hoover’s term. Most experts, including Hoover, thought the crash was part of a recession. In July 1931, when the president wrote this letter to his friend, Governor Louis Emerson of Illinois, it became clear that excessive speculation and a global economic slowdown were putting America in the Great Depression. Hoover wrote to Emerson that with “a continuance of shortages in the winter” and perhaps more inevitable, he “attempted to put the machinery of state into action.” Since the crash, Hoover has worked tirelessly to fix the economy. He created government agencies, encouraged labor harmony, supported local aid for public works, increased cooperation between government and business to set prices, and fought to balance the budget. His work focused on indirect relief from individual states and the private sector, as the letter states, “to support each state committee in a more effective manner” and on volunteerism – “appeals for funds” from outside the government.
How Did Herbert Hoover Respond To The Great Depression
However, as the recession worsened, calls for federal intervention and increased spending increased. But Hoover refused to involve the federal government in enforcing fixed prices, regulating trade, or controlling the value of currency, which he believed were steps toward socialism. He tried to provide indirect aid to banks or local public works projects, but he refused to use federal money for direct aid to citizens, fearing that it would weaken public morale. Instead, he focused on volunteering to raise money. Although he was a philanthropist and progressive before becoming president, Hoover’s detractors criticized him for his disdain for ordinary citizens. During his election campaign, Hoover tried to convince Americans that the measures they were calling for might help in the short term, but would be disastrous in the long run. He claims he cares too much about ordinary Americans to destroy the nation’s foundations with deficits and socialist institutions. He was defeated by Franklin D. Roosevelt in 1932.
J. Edgar Hoover
Roosevelt promised Americans a “New Deal” when he took office, and he signed several new laws during his first “thousand days” as president. Roosevelt’s aides later admitted that most of the New Deal agencies were modeled closely after Hoover’s efforts, but Roosevelt’s plan differed in meaning and scope. The New Deal bill supported direct federal aid, tightened government oversight of many industries, and eschewed voluntary spending in favor of deficit spending in hopes of boosting consumer confidence and the economy.
In a letter to a friend written seven months after he left office, Hoover expressed concern about the shortcomings of the New Deal legislation. Hoover observed that the country had become “worse in the New Deal.” He believed that revolution was inevitable unless there was a fundamental change in government and an end to deficit spending. Roosevelt’s reforms led Americans to “throw off all moorings”, and Hoover predicted that America would move dangerously “to the left” and that the reaction would lead to “some American interpretation of Hitler or Mussolini”. In 1834, two years later, Hoover expressed similar ideas in an essay titled “Liberty’s Challenge.”
He predicted that the role of the American government would fundamentally change as a result of the New Deal.
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A full transcript is available for Hoover’s letter to Louis Emerson By Herbert Hoover Louis L. Emerson, July 10, 1931
Regardless of any improvement in our economic condition during the kharif, our poverty will persist significantly during the winter. I’m wondering if we should put the state’s mechanism into action compared to last year, or if there will be a system for funding before winter comes.
Your organization was one of the most appreciated in the whole country last winter and I thought that if all the organizations started applying sometime in October to give thanks, we could make it a national question. Thus supporting each State Committee in a more effective manner
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I beg again to express my gratitude for the fine courtesies we have received from you and Mrs. Emerson, and to you both kindly, I
A full transcript is available for Hoover’s letter to Bruce Burton Transcript Bruce Barton to Herbert Hoover, October 3, 1933.
I have summarized your most important wishes Your friend does not need to send a replacement A smoking president has enough pipes to last a lifetime Also fishing gear He is the only one who gets the reward except for the troubled soul
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There is no point in discussing the situation Despite the valiant efforts of the media, the country has missed the New Deal. If there is no stop, the real question will be, after getting rid of all the moorings, do we go “right” or “left”. I fear the “left” first, and when the large middle class (80% of America) realizes its destruction, it will enter some American interpretation of Hitler or Mussolini.
There is no problem finding a large profession in California that does nothing and maintains an observatory separate from the national trend.
Read the document’s introduction and transcript and apply your knowledge of American history to answer this question. SWBAT: Explain how Hoover responded to the Great Depression: a) Read the text and examine the political cartoons and answer the discussion.
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Presentation on theme: “SWBAT: Explain how Hoover responded to the Mahabharata: a) Read the text and examine the political cartoon and answer the discussion.” – Presentation transcript:
Herbert Hoover comes into office as the first president to deal with the Depression. Hoover took office in March 1929 and the stock market crashed in October 1929. Hoover was a successful businessman and self-made millionaire. Hoover gained an international reputation for leading a successful relief effort to help starving Europeans and help Europe recover economically.
Hoover came to office with a belief in strict individualism and that the government should not be involved in the national economy or subsidize citizens. Hoover believed that “prosperity is just around the corner.” He changed his view that the government should not be directly involved in the economy. Trickle Down Theory – He promoted programs that helped businesses, on the theory that economic benefits would flow to workers and consumers as businesses recovered.
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1. What was the purpose of the Federal Home Loan Bank Act? 2. How did the Federal Home Loan Bank Act initially affect the Great Depression? 3. Was the Federal Home Loan Bank Act a success or a failure? Why? 4. Does the Federal Home Loan Bank Act show that Hoover is taking necessary steps to help the American public? Why? The purpose of this arrangement was to increase the supply of money available to local institutions that offered home loans and to use it as a source of reserve credit. Foreclosure rates dropped significantly after banks reopened, but for thousands of families, the change came too late. Success – Significantly reduced foreclosure rates and created new jobs in the housing industry Yes – Hoover once realized that the depression was worse than anyone imagined/believed.
1. What was the purpose of the Rehabilitation Finance Corporation? 2. How did Reconstruction finance corporations initially affect the Great Depression? 3. Was the Reconstruction Finance Corporation a success or a failure? Why? 4. Does the Reconstruction Finance Corporation show that Hoover is taking the necessary steps to help the American people? Why? Hoover believed that if the government managed banks and railroads, the decline of industry and agriculture could be halted, unemployment eliminated, and purchasing power restored. Failure – Never accomplished his goal
7 Hoover Dam 1. Why was Hoover Dam built? Who will benefit the most from this bond? 2. Why was Hoover Dam renamed Boulder Dam? 3. How did the Hoover Dam first affect the Great Depression? 4. Was the Hoover Dam a success or a failure? Why? Create a year-round water supply to the arid region of the southwestern United States When Hoover lost the presidency to Franklin D. Roosevelt in 1932 because people blamed him for the Great Depression, the name was officially changed to Boulder Dam in Congress and returned to Hoover Dam in 1947. It provided jobs and economic opportunities for many unemployed people Success – providing jobs/economic opportunities – has also provided
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