Section A: Identification and Evaluation of Sources
This investigation will explore the question: To what extent did Hoover’s actions help America’s economy to begin recovering from the Great Depression? How Hoover took certain measures to pull the United States back up from its big fall will be the focus of this investigation to allow for an analysis of the U.S economic status from the Great Depression up until the end of Hoover’s presidency.
The first source which will be evaluated in depth is Ralph Gordon Hoxie’s “Hoover and the Banking Crisis” written during the Hoover presidential seminar on August 7, 1974. This commentary is where he focuses his remarks on the banking crisis, “the most political and most unnecessary bank panic in all …show more content…
Hoxie’s “Hoover and the Banking crisis” however, agrees otherwise that Hoover did not help The United States recover. According to Hoxie, “[Hoover] stood by perhaps the most severe censure one President has ever made of another” (Hoxie, 25). Hoover’s actions regarding the issue of The Depression show that he was not able to help the economy rise back up, but instead made it worse since “[he] lacked political background” (Kennedy,23) . In addition, Hoxie suggests that President Hoover was a bystander regarding the issue of the Banking Crisis. It simply states that some of his actions were not necessary and that it could have been prevented if Hoover showed interest and acted towards the crisis. According to Lee E Ohanian’s book, Why Did Productivity Fall so Much during the Great Depression? During Hoover’s presidency the agricultural industry did not get any attention from him which had caused some of its production to decrease and contribute to the fall of the economy. They find that the productivity of plants adopting leading-edge technologies is initially lower than the productivity of much older plants. This suggests that organizational capital is technology-specific and that firms must accumulate new organizational capital to operate new technologies efficiently” (Ohanian, 37). Although Hoover is claimed to have not helped the country at all, Hoxie’s argument can be countered otherwise because “[Hoover] use[d] the instrumentalities of his office to mobilize the nation’s economic resources in times of depression” (Hoxie, 26), this shows that Hoover’s help mattered and has helped America recover from the fall of the economy because he used resources to further reach out to the public and fix its economy’s financial status. Hoxie provided statistics that stated during Hoover’s presidency, “Bank failures had been virtually ended
This investigation will explore the question: To what extent did Hoover’s actions help America’s economy to begin recovering from the Great Depression? How Hoover took certain measures to pull the United States back up from its big fall will be the focus of this investigation to allow for an analysis of the U.S economic status from the Great Depression up until the end of Hoover’s presidency.
The first source which will be evaluated in depth is Ralph Gordon Hoxie’s “Hoover and the Banking Crisis” written during the Hoover presidential seminar on August 7, 1974. This commentary is where he focuses his remarks on the banking crisis, “the most political and most unnecessary bank panic in all …show more content…
Hoxie’s “Hoover and the Banking crisis” however, agrees otherwise that Hoover did not help The United States recover. According to Hoxie, “[Hoover] stood by perhaps the most severe censure one President has ever made of another” (Hoxie, 25). Hoover’s actions regarding the issue of The Depression show that he was not able to help the economy rise back up, but instead made it worse since “[he] lacked political background” (Kennedy,23) . In addition, Hoxie suggests that President Hoover was a bystander regarding the issue of the Banking Crisis. It simply states that some of his actions were not necessary and that it could have been prevented if Hoover showed interest and acted towards the crisis. According to Lee E Ohanian’s book, Why Did Productivity Fall so Much during the Great Depression? During Hoover’s presidency the agricultural industry did not get any attention from him which had caused some of its production to decrease and contribute to the fall of the economy. They find that the productivity of plants adopting leading-edge technologies is initially lower than the productivity of much older plants. This suggests that organizational capital is technology-specific and that firms must accumulate new organizational capital to operate new technologies efficiently” (Ohanian, 37). Although Hoover is claimed to have not helped the country at all, Hoxie’s argument can be countered otherwise because “[Hoover] use[d] the instrumentalities of his office to mobilize the nation’s economic resources in times of depression” (Hoxie, 26), this shows that Hoover’s help mattered and has helped America recover from the fall of the economy because he used resources to further reach out to the public and fix its economy’s financial status. Hoxie provided statistics that stated during Hoover’s presidency, “Bank failures had been virtually ended