Non-White Hoover's Response To The Great Depression

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The critical problems in the late 1920’s, threatening american economy was the older industries such as textiles, steel, and railroads, which were basic to the fundamental well-being of the economy, were barely profitable. Crop prices dropped, americans thought the nation would continue to prosper under Republican leadership. The bottom fell out of the market and the nation's confidence, and half of the banks failed. The causes of the stock market crashed and the Great Depression made the collapse of the economy occur more quickly and the depression worse than it could have been. Many were out of a job, and others experienced pay cuts and reduced hours. The Great Depression affected the economy in the United States and throughout the world by businesses reducing their goods and services by half the amount of the 1920s or they went bankrupt. Europe could not buy American goods or pay America its debts, which Caused unemployment to rise. People during the Great Depression could not afford rent or food because there were no jobs so they lived in shacks.…show more content…
Hoover believed that reason could solve problems, that government should foster cooperation between competing groups, and that individuals, charities, and private organizations should help care for the less fortunate. He took simple steps of asking employers not to fire employers and labor leaders not to demand more from businesses. Hoover made projects but these projects and measures were not able to turn the economy around. Hoover started to give money out to banks as in loans and loans and that started to pick people back up. Several New Deal programs remain active and those operating under the original names include the Federal Deposit Insurance Corporation, the Federal Crop Insurance Corporation, the Federal Housing Administration, and the Tennessee Valley

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