Herbert Hoover and Franklin D. Roosevelt’s Response to the Depression
The great depression started after the market crash of October 1929 leaving the nation devastated and desperate for a solution. It took two Presidents to take on the economic issue America was facing. President Herbert Hoover and Franklin D. Roosevelt (FDR) both had very distinct methods in which they presumed to resolve the issue. Their different means of assisting the matter was both seen in Hoover’s “rugged individualism” and FDR’s three New Deals; these different methods had many differences as it did similarities, yet, the results in the end eventually led to the reconstruction of the economy. Many people speculate that FDR’s approach to the depression was its solution, …show more content…
At the beginning of the great depression Hoover decided that the best way to come about the issue was to use “rugged individualism” and “self-reliance”; a belief he thought to be that of the American system; by doing this, he hoped to restore the assurance in the economic and banking system. This belief came about mainly through Hoover’s fear that government aid programs would cause the people to grow reliant on the government. To prevent this he only granted government assistance to the poor briefly; given by local and state government. However, Hoover’s plan seemed to be making little effect as the conditions from 1931 to 1932 relentlessly worsened. So, he created the Reconstruction Finance Corporation, this bill lessened the extent of direct help the government presented. The bill also granted loans to help businesses avoid going bankrupt. Nevertheless, this effort came about too late and he began to lose the favor of the people. This fact became especially true after he gave direct orders to General Douglas Mac Arthur to effectively
The great depression started after the market crash of October 1929 leaving the nation devastated and desperate for a solution. It took two Presidents to take on the economic issue America was facing. President Herbert Hoover and Franklin D. Roosevelt (FDR) both had very distinct methods in which they presumed to resolve the issue. Their different means of assisting the matter was both seen in Hoover’s “rugged individualism” and FDR’s three New Deals; these different methods had many differences as it did similarities, yet, the results in the end eventually led to the reconstruction of the economy. Many people speculate that FDR’s approach to the depression was its solution, …show more content…
At the beginning of the great depression Hoover decided that the best way to come about the issue was to use “rugged individualism” and “self-reliance”; a belief he thought to be that of the American system; by doing this, he hoped to restore the assurance in the economic and banking system. This belief came about mainly through Hoover’s fear that government aid programs would cause the people to grow reliant on the government. To prevent this he only granted government assistance to the poor briefly; given by local and state government. However, Hoover’s plan seemed to be making little effect as the conditions from 1931 to 1932 relentlessly worsened. So, he created the Reconstruction Finance Corporation, this bill lessened the extent of direct help the government presented. The bill also granted loans to help businesses avoid going bankrupt. Nevertheless, this effort came about too late and he began to lose the favor of the people. This fact became especially true after he gave direct orders to General Douglas Mac Arthur to effectively