Skip to main content
Create interactive lessons using any digital content including wikis with our free sister product
. Get it on the
Pages and Files
The Great Depression
Table Of Contents
Hoover Handles the Crash
Following the stock market crash, many citzens, businesses, and banks were looking for help. Unfortunately, help did not come to the people early enough. Following the stock market crash of 1929, President Hebert Hoover thought that the economic problems would correct themselves in a short amount of time. Many people criticize Hoover for handling the stock market crash the way he did. When coming up with a plan to handle the crash, Hoover believed the government should not play a big role in helping the people. While Hoover thought this, he still attempted to help the people.
Hoover attempts to fix the economical problems in a few ways. First, President Hoover realized the importance for other countries to worry about their people struggling and suspended repayment of all war debts that were still left to be made. President Hoover did this not only to help other countries get back on their feet, but also used this as an atempted to make people in other countries put money into the economy world wide. While this attempt seemed smart, it also had setbacks. Many people thought that president Hoover should have made other countries still pay off their war debts so the money would help provide job oprotunities. Another problem with Hoover trying to help the economy world wide was increasing tariffs on imported goods. With the tariffs, Countries would stop trading goods with the United States. This potentially caused more failure for big industries that relied on trading with people over seas and caused more lay-offs.
While Hoover made attempts to help other countries, he also tried to help the United States. The Reconstruction Finance Corporation is one of Hoover's main plans to help the failing banks and bussinesses. The Reconstruction Finance Corporation gave out an estimated 2 billion dollars in loans to states all over the country. The goal in this was to help bussinesses feel comfortable hiring people, and also stop bussinesses from laying off workers. Also, President Hoover established a Limited Public Works Program. This program was designed to provide some jobs for the unemployed. Another public work related idea of Hoover was the Federal Home Loan Bank Act. This created some federal housing projects that employed people. In the end, President Hoover did what he could to help the american people, but in the end he was still blamed for the Great Depression.
help on how to format text
Turn off "Getting Started"