How Did Hoover Contribute To The Great Depression
Imagine how would it be if all of the sudden economy crashed and there is no back up plan. It would be my worst night mare. It has happened before in history during 1929 with the crash of The Wall Street, which marked the beginning of the depression. The great depression was on of the hardest time in American history. After the roaring twenties was the dirty thirties which started with the stock market crashed and marked the beginning of the Great Depression and consisted of Dust Bowl in South. Great Depression was the worst economic downturn in american history with millions of dollars loss in stock market crash. Many reasons contributed to rise and deepening of the great depression. Unequal distribution of wealth, unemployment and failing to
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He used Bonus Army to control the World War 1 veterans demanding for payment for their service in war. This action of Hoover proved him to be harsh. In the elections of 1932 Governor Franklin D. Roosevelt from New York won the elections by promising “a new deal for the American people” He was a supporter of social security and unemployment welfare that he had started in New York. He won the elections with huge number of votes. By the time he took the office in 1933 many state governments had ordered to shut down the banks to prevent further failure. He used really good programs and passed many important laws with the help of congress, which started resolving the problems that people were facing. The first three months of President Roosevelt were known as Hundred Days of the New deal. President Roosevelt’s first step was national bank holiday closing all remaining banks. This was one of his Relief programs. FDIC was created by congress which assured the money during the times of crisis and was also intended to store back people’s trust. This program helped bring reform during the great
He used Bonus Army to control the World War 1 veterans demanding for payment for their service in war. This action of Hoover proved him to be harsh. In the elections of 1932 Governor Franklin D. Roosevelt from New York won the elections by promising “a new deal for the American people” He was a supporter of social security and unemployment welfare that he had started in New York. He won the elections with huge number of votes. By the time he took the office in 1933 many state governments had ordered to shut down the banks to prevent further failure. He used really good programs and passed many important laws with the help of congress, which started resolving the problems that people were facing. The first three months of President Roosevelt were known as Hundred Days of the New deal. President Roosevelt’s first step was national bank holiday closing all remaining banks. This was one of his Relief programs. FDIC was created by congress which assured the money during the times of crisis and was also intended to store back people’s trust. This program helped bring reform during the great