Friday, December 8, 2017

What are both FDR and Hoover's thoughts and actions regarding the Great Depression?

The Great Depression, the industrial world's worst economic crisis, took place between 1929 and 1939. At its nadir, almost half the banks in the United States had closed, and about 15 million Americans were out of work.
Herbert Hoover was elected president in 1928 and assumed office in early 1929, just before the stock market crash that caused the Great Depression. At first, Hoover assured Americans that the crisis would pass on its own. He was a conservative and believed that government should play a limited role in intervening and relieving the distress of those affected by the Depression. As a result, he was scorned and derided, and the shantytowns where many poverty-stricken unemployed people lived became known as "Hoovervilles." Although Hoover made a few feeble attempts to stimulate the economy and loan money to ailing banks, his apparent lack of action and distain for the plight of common Americans caused him to badly lose the election of 1932.
In contrast to Hoover, Franklin D. Roosevelt promised to take drastic action to address the problems caused by the Great Depression. Once he was elected and assumed office in 1933, he immediately made good on his promises. He declared a bank holiday, and only those banks that were solvent were allowed to reopen. His "New Deal" also initiated programs such as the Public Works Administration, the Agricultural Adjustment Administration, the Tennessee Valley Authority, and the Civilian Conservation Corps to provide economic relief for farmers and other laborers and create work for the unemployed.
Unlike the aloof and distant Hoover, FDR kept a strong connection with the American people, particularly through radio programs that became known as "Fireside Chats." In one of these, he famously said, "The only thing we have to fear is fear itself." He continually reassured the American people, through government action and by addressing them directly, that they would be able to overcome their difficulties and bring the Great Depression to an end.
https://www.history.com/topics/great-depression/great-depression-history

https://www.history.com/topics/us-presidents/franklin-d-roosevelt

https://www.history.com/topics/us-presidents/herbert-hoover

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