Essay on President Hoovers Lack of Action in the 1920s

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†¦show more content†¦Hoover was the type of conservative that believed the economy would repair itself and the dead parts would fall. He refused to give direct federal relief to the people. in business affairs, Hoover kept America as a ru gged individualist, capitalist society with little regulation. In fact, when the depression hit he bailed out the businesses rather than the American people. He established the Reconstructive Finance Corporation, which supplied corporate relief for corporations identified to be too big to fail. He was the first president that used his money made for being the president, for donations to charity. He was living the American Dream. Publicity of being a self-made man torched him when his strategies failed to relinquish the burden of the Great Depression (Hughes 1). The Great Depression was the entire 1920’s in the making. Throughout the twenties, the American people bought goods on credit, but many people were unable to pay back what they had spent. This superficial prosperity was believed to help the economy, but in reality, it weakened the economy by artificially raising the price of stock and causing under consumption in the early 1930’s (Kelly 3). Eventually all of this credit and Speculators caused for the stock market crash, by rigging the economy to fail. High tariffs, like the Hawley-Smoot tariff, caused other nations to be unable to afford trade with America (Kelly 4). The verdict was to buy the expensive AmericanShow MoreRelatedEssay on Roosevelt and Hoover DBQ1428 Words   |  6 Pagespublic view of what constitutes as liberal beliefs versus what is thought to be conservative beliefs shifts in a similar way. Laissez-faire ideas were considered liberal during the 1920s, but the coming of the Great Depression in 1929 altered the American view of liberalism. 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