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, however; although it is true his methods made more of an impact than that of Hoover’s methods, there is not enough evidence to safely conclude that he resolved the depression, instead, his efforts were more of a precaution from the depression’s worsening. …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 disintegrate the "Bonus Army". The Bonus Army was a group of 20,000 men that were WWI veterans. They had taken a trip to Washington in an effort to retrieve promised money from Congress (eventually this money was paid back around the early 1940s). Critics of Hoover saw him as a callous President who had no sympathy toward the common citizen, even with the notable title he held before his presidency of a philanthropist and progressive, the public’s feelings towards him were evident during his reelection campaign. In the hopes of gaining the public’s favor again, Hoover pleaded with Americans trying to make them understand that the progress they were expecting might appear to be helpful in the short term, but would be disastrous in the long run. He assured them that he did care for common Americans and that he would never look to destroy the country’s foundations with discrepancies and socialist institutions. In 1932 the public elected Franklin D. Roosevelt as President leaving Herbert Hoover defeated. Roosevelt’s order for change was so extensive that he instantly looked to restore the economic system of the United States; he named his plan The New Deal (the first 100 days of this plan would be called the First New Deal). Roosevelt’s had a two part strategy for battling the
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, however; although it is true his methods made more of an impact than that of Hoover’s methods, there is not enough evidence to safely conclude that he resolved the depression, instead, his efforts were more of a precaution from the depression’s worsening. …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 disintegrate the "Bonus Army". The Bonus Army was a group of 20,000 men that were WWI veterans. They had taken a trip to Washington in an effort to retrieve promised money from Congress (eventually this money was paid back around the early 1940s). Critics of Hoover saw him as a callous President who had no sympathy toward the common citizen, even with the notable title he held before his presidency of a philanthropist and progressive, the public’s feelings towards him were evident during his reelection campaign. In the hopes of gaining the public’s favor again, Hoover pleaded with Americans trying to make them understand that the progress they were expecting might appear to be helpful in the short term, but would be disastrous in the long run. He assured them that he did care for common Americans and that he would never look to destroy the country’s foundations with discrepancies and socialist institutions. In 1932 the public elected Franklin D. Roosevelt as President leaving Herbert Hoover defeated. Roosevelt’s order for change was so extensive that he instantly looked to restore the economic system of the United States; he named his plan The New Deal (the first 100 days of this plan would be called the First New Deal). Roosevelt’s had a two part strategy for battling the