What were the root causes of the Great Depression?
Explain how Herbert Hoover attempted to bring America out of the Depression. Cite specific examples.
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Some of the problems that caused the Great Depression were a dramatic drop in demand and credit, disruption of trade, and a deflation in asset and commodity prices, which ended up resulting in a huge number of people going into poverty and being unemployed.
ReplyDeleteHerbert Hoover tried to end the Great Depression but he was a little to late to do that but ended up still trying. He attempted t0 bring the US out of depression by building the Boulder Dam to create jobs and get people back on their feet with money.
Causes of the great depression included:
ReplyDeleteFalse Prosperity – over dependence of mass production, consumer spending,
Speculation – to much money loaned out on thinking of economy will stay stable
Stock Market Crash – black Tuesday
Banking Crisis – deflation, banks failing
Unemployment – rose extremely high
Trade Collapse – high tariffs destroyed trade
Drought Conditions – dust bowl and its effects
Hoover insisted that the economy was sound and that prosperity would soon return,
Herbert Hoovers attempts to bring America out of the depression included:
Smoot-Hawley Tariff Act. Raising tariffs
Committee for Unemployment Relief formed
Reconstruction Finance Corporation created
Hoover was considered a Laissez Faire president
Jessica Gregis
The root of the great depression was a world wide economic down turn. The root causes were the stockmarket crash, people who lost a lot of money in the stockmarket cut back on spending, also a severe drought attacked the agriculture of the united states.
ReplyDeleteHerbert Hoover started programs to turn the depression around. One was the Smoot-Hawley Act, which raised tariffs on thousands of imported items. He also urged banks to form an association known as the NCC, National Credit Corporation. President Hoover and congress approved the Federal Home Loan Bank Act to lower cost of home ownership and avoid for closures. His final attempt was the Emergency Relief and Constructive Act, which included public funds for work programs such as dams and the creation of the Reconstructive Finance Corporation. Its goal was to provide government secured loans to financial institutions, railroads, and farmers.
Between the combination of greatly unequal distribution of wealth and the stock market crashing it cause the great depression which took place during the 1920s. The unbalanced of wealth lead to an unstable economy. Herbert Hoover tried his best to help, however he didnt succeed as well as he hoped. He was too late so to say.
ReplyDeleteHerbert Hoover waited til it got really bad to do anything about it. He at first started a program for the farmers. Sadly, these farmers had to resort to the government funding's. He then got a great idea to start the Grand Coulee Dam and the Hoover Dam. These dams provided many jobs for people and provided affordable hydroelectric powering. However, the great depression was a bigger problem then what people realized. It didn't provide enough jobs for people. Hoover made a big mistake when he wouldnt go off the gold standard.
Brandyn Coleman
The mean cause of the great depression is that people had to much confidence in the stock market. People never thought what happened could've happened. And just when they thought everything was good... It all crashed.
ReplyDeleteHoover created jobs to get people money, and some kind of electricity. But unfortunately, by the time he started making moves on things like this, the economy was already at a very bad state. I think we're still in debt today to the great depression. Another way he tried to help recover is, he raised prices on tarrifs.
The root of the depression was a rise in credit that people and the banks couldnt back up. Also everyone was way too confident in the way everything was going. After the stock market crashed, Hoover tried many things to bring the economy back around. He instituted a bank holiday, which at that point many americans already lost all trust in the banking industry, so instead of giving it time, most people pulled whatever they had out of the banks. Hoover also tried to create a lot of job organizations to provide an income for struggling americans at the time.
ReplyDeletethe root of the depression was everyone spending so much money during the 20s prohibition and the stock msrket crash or black tuesday. And hoover didnt do that much to try to get us out of the great depression he tryed to create more jobs and passed a couple bills like the dam one. But it took FDR and all the bills that he passed plus the start of the war to get us out
ReplyDeleteThe root of teh depression is that everyone is spending so much money, and the economy ran out of money causing the stockmarket to crash. Hoover tried to get us out of the depression but he couldn't. But when president Roosevelt came to office he signed the new deal to get us out.
ReplyDelete