preview

depression

Good Essays
1 - Compose an essay which summarizes the root causes of the Great Depression. Then compare and contrast how Presidents Hoover and Roosevelt went about dealing with the worst economic depression in American history. What fundamental economic principles were each influenced by and cite examples of their policies.
The Great Depression was quick and detrimental to the U.S. market. With the banks making loans to people to invest in stocks, when the stocks started to crash there was a large amount of panic selling causing a great many numbers of businesses that when bankrupt. All of the closing of businesses made a great many people unsure of the volatility of the market. This made people want to make sure their money was safe by taking it out of the bank. Due to the stock crash people started not being able to pay back the money they got from loans from the banks. With the banks relying on the circulation of money and people not needing all of their money all at once, the banks started to go bankrupt as they did not have enough money to give back everyone the money they have in the bank. The closing of banks started a blitz to get money from the banks before they closed due to not having enough money. These were a big part of the great depression and a major reason to the unemployment during this time.
GML pg 849
The Presidents during this time were Hoover and Roosevelt and they both used very different tactics to combat the growing deficit in our nation's economics. With the troubling times came troubling problems that perplexed our nation’s government and forced them to deal with unforeseen circumstances that they were not accustomed to. When the Great Depression happened it was a shock to all and they did not know what to do. ...

... middle of paper ...

...e of the greatest accomplishments of the Roosevelt administration was the 100 day plan. This brought forth one of the greatest ways that Roosevelt help combat the depression. This was called the NRA which put out industry codes and standards. This and the countless jobs that President Roosevelt created help stabilize our economy.
GML pg 863-867
President Roosevelt and Hoover had very different ways of combating the depression. While Roosevelt was heartfelt and caring for it’s the people Hoover was cold and uncaring to. Hoover try to let it work itself out until it was too late as the government had become complacent. The depression had no room for sloth in the government. President Roosevelt rose to the occasion and helped put our economy back on track. But Roosevelt alone could not settle our economy which is cut back on track by world war two.
GML pg 916
Get Access