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The Decisions Between Hoover And Roosevelt During The Depression

629 words - 3 pages

The rich were getting richer and the poor were struggling no to not be poorer. Useful industries were in need for business. Farmers needed more profit but couldn't get it. This is when everyone started to risk their luck with the stock market and their money, but when no one noticed all of a sudden the stock market crashed in October of 1929 and all the scoring prospects of the 1920s were forgot.All the consumers had less money to spend. Farmer's incomes fell, rural families could not buy the products of the American industry to support the US. Prices were increasing, there where to many unbalanced distributions of income. There was more production that wages, and a huge gap was between the rich and the poor.Before any of this even happened there were presidential elections. The two candidates running were as Republican Herbert Hoover and as Democrat Alfred E. Smith. Both men came from poor families and had worked hard to be successful.The Stock Market crash signaled the beginning of the great depression, it was during the years of 1929 till 1924. More then millions of people across the nation were out of business.Herbert Hoover became the President of the United States and just a year after his election he was challenged with how to deal with the sudden stock market crash in October in 1929. Hoover believed that the economy should be allowed to function with minimal intervention. He believed that the government would be able to help to solve some economic problems. One of Hoover's ideas was to build roads, a damn in Nevada. This opportunity would give jobs to a lot of citizens. Congress did approve this costly project, which was worth $800 million. He created the Federal Farm board, which is to help raise crop prices by helping farm cooperatives buy crops and keep them temporarily off the market. He also established the National Credit...

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