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The Great Depression And Policies Essay

655 words - 3 pages

Following an era of economical prosperity, the Great Depression, otherwise known as the ugliest sister of the 1900’s family, which lasted an entire decade from 1929 to 1939, began on a fateful day with the New York Stock Exchange abruptly crashed and was unable to recover quickly. This occurrence, of course, had an unforgivable effect on the economy, leading to one of the most memorable and significant eras in American history. Not only affecting the economy domestically, internationally trading was burdened by the limp leg that was the United States. Socially, people were struggling to regain their balance after a main income source –agriculture- was swept away by the Dust Bowl, only ...view middle of the document...

The man whom claimed that the decade of suffering was a simple “passing incident,” found his best solution to finance depositories and larger business in order to regain economic consciousness, however, this strategy failed to work efficiently and was popularly disliked by the American people on the grounds that it failed to aid the masses. Nevertheless, Hoover did enact stimulating economic policies that were largely used in the latter part of the national recovery. Due to his conservative political beliefs, he believed that imposing the federal government too significantly would weaken capitalism and individualism. This philosophy also lead a several vetoes of congressional bills designed to aid the people directly for he believed that assistance should be delivered on a local and voluntary basis. In President Hoover’s State of the Union Address of 1930, he stated that, “Prosperity cannot be restored by raids upon the public Treasury,” further influencing his beliefs into individual...

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