In response to the Stock Market Crash of 1929 and the Great Depression, Franklin D. Roosevelt was ready for action unlike the previous President, Hubert Hoover. Hoover allowed the country to fall into a complete state of depression with his small concern of the major economic problems occurring. FDR began to show major and immediate improvements, with his outstanding actions during the First Hundred Days. He declared the bank holiday as well as setting up the New Deal policy. Hoover on the other hand; allowed the U.S. to slide right into the depression, giving Americans the power to blame him. Although he tried his best to improve the economy’s status during the depression and ‘pump the well’ for the economy, he eventually accepted that the Great Depression was inevitable.
During the Great Depression, Huey Long had an idea on how to fix the situation and Franklin D. Roosevelt, during his inaugural speech, talked about how change would come no matter how hard it was. When Roosevelt took office, America was getting someone who could try and undo all of the damage that Herbert Hoover left behind. Huey Long, Louisiana’s 40th governor, was suggesting different ways to fix the economy three years into Roosevelt’s presidency. Both of these men inspired many Americans that the Depression would not last forever.
Historians claim that Hoovers term during the depression was filled with false promises and accuse the president of doing nothing while the depression worsened. Along with worsening the debt and a fairly aggressive use of government it is clear his approach towards the situation was not the best. FDR’s approach would prove during his administration to suffice in the augmentation of the crisis. Although it seemed like a completely opposite presidency, many ideas came from his predecessor. Roosevelt’s team of advisors understood that much of what they produced and fashioned into the New Deal owed its origins to Hoover’s policies.
The Great Depression was a difficult time for all the American people. It was a time of unemployment, falling wages, and hope for recovery (“Chapter 27”). Some of the causes of the Great Depression were government policies, economic factors, and the gold standard (“Chapter 27”). Other reasons included the fall of the stock market, overseas investments, and the investments in Florida real estate (Farless). The president at the time of this difficult time was President Herbert Hoover. When the Great Depression started, Herbert Hoover took matters into his own hands. President Herbert Hoover came up with multiple recovery attempts.
The Great Depression had been a tremendous disaster for American, even to the world people in the 1920s. This kind of disaster was caused by increasing American debts, distribution of wealth, American over-production and under-consumption, problems for farmers and industry and “economy bubble” in the stock market. Because of the so bad economy, millions of people lost jobs and thousands of banks failed. American economy market got an unprecedented magnitude. President Hoover thought out a lot of solvents but they did not work well well to US. Economy. Hoover lost faith in America. Americans were looking for a new leadership and a president who could save the from the Great Depression by the election of 1932. Then Franklin Delano Roosevelt won the Hoover with his idea of “new deal”. He helped the US.overcame difficulties and recovered US’s economy market.
The Great Depression was an absolute economic disaster that occurred after the big stock market crash of 1929. This crashed occurred mainly because of all the excitement caused by the Roaring Twenties. Popular items like automobiles and household appliances ended up being produced in much greater quantities than were being sold. The current president of the United States, Herbert Hoover, was not succeeding at all in putting an end to The Great Depression. All Americans were desperate to find someone who would aid them in climbing out the great sink hole that was the stability of the United States. Thankfully, for them, Mr. Hoover’s successor will be the man to do the trick of bringing America out of that hole. The First and Second New Deals were responses to the worst economic tragedy in American history. Without these deals, America’s economy would have been disastrous for much longer and could have easily had a role on our economic stability today.
President Hoover, a determined republican, who faced the impossible task of the Great Depression. The late 1920’s economy was full of superficial prosperity and credit, and an unleveled playing field to most Americans. This causes the fortified nation to unravel at the seams. Speculators were buying on margin and selling at an artificial price. These speculators set up the stock market to plummet. Hoover dwelled his success on his rugged individualism that did not believe in direct federal aid to the people. Hoover should be blames for the worsening of the Great Depression not because he started it, but rather, because he was not able to fix it. Despite having the power of the government behind him, Hoover was unable to launch public programs on a large enough scale to help the masses. The government was not ready for such a collapse, for there was no protocol for such an event. Keep in mind Hoover’s political affiliation, dictated the establishment of the RFC. Reconstructive Finance Corporation provided relief to the companies rather than the people. He refused to provide welfare to the common person. Direct relief was not going to happen, but he did establish Federal Home Loan Bank Act. He believed that the government was not enacted to provide charity, but churches or non-government organizations. Hoover was a little too late on his attempts to do in aid to the citizens.
The Great depression was a time of great need and hardships for American citizens all over the United States. America was in great need of a leader, someone who could make this dreadful process easier, and Franklin Roosevelt rose to the occasion. During Roosevelt’s First Inaugural Address in 1933 and his 1944 State of the Union Address, emerged as the great American leader everyone was in desperate need of. He would take the blame off the American people as well as provide them with goals and a very achievable image of America in the close future.
The Great Depression of the 1930s was a culmination of disastrous economic events that resulted in the worst economic period in American history. The Stock Market Crash of 1929 is seen as the beginning of the economic downward spiral. The Stock Market Crash of 1929 was caused by a lack of regulation in the financial industry, investors aggressively buying on margin, and overvalued stocks due to market manipulation. Although this event occurred in 1929, Roosevelt ultimately had to address the problems as a result of the crash because President Herbert Hoover was seen as “not doing enough” and lost the election to Roosevelt in 1932. The Great Depression also featured skyrocke...
At its beginnings in the late 1920s and early 1930s, the Depression was only an economic problem, which could have been resolved by giving more money to consumers to spend and boost the economy again. However, President Hoover believed that the problem was entirely at the businesses fault and that they could fix it themselves, but he was wrong. Hoover simply ignored the problem, and businesses did not fix the problem, it only got worse. People had no jobs or money; therefore, they were unable to bring the economy back to its feet. Nevertheless, with the approach of the election of 1932 came new promise and new prospects for the American economy. Franklin Delano Roosevelt came into the running and announced his bold and new fangled plan of action, the New Deal. Not only were Roosevelt and his ideas on the liberal democrat ticket, but he won in a landslide after decades of Republican governmental control. This was an era of new and radical thinking in America because they were switching gears from strict Republican to very liberal Democratic government mindset.