Topic > President Hoover and the Great Depression - 1188

Many people felt that President Hoover did not take appropriate actions to end the conditions of the Great Depression. President Hoover thought the economic slowdown would only be temporary. Hoover decided to provide advice to businesses and local government. He told businesses not to cut wages or production. This eventually led to overproduction and then unemployment. These were the two major components of the Great Depression and also why people believed that President Hoover did not take appropriate actions to end the conditions of the Great Depression. Subsequently, Hoover even agreed to allow more money for public works. He believed this would help provide more jobs to create bridges, parks and libraries. Subsequently, state and local governments ran out of money to support public works. Therefore, Hoover was forced to try a new remedy to end the conditions of the Great Depression. President Hoover decided to try to help with the RFC (Reconstruction Finance Corporation). This happened when money was lent to companies or programs that provided help to those in need, or in other words, relief. This plan was unsuccessful because the directors did not want to make risky loans and suffer the consequences. President Hoover also refused to immediately give World War I veterans their $1,000 bonus. The soldiers were promised a $1,000 bonus by 1945. Since these soldiers were returning home in the midst of the Great Depression, they wanted and needed their money upfront. Most veterans were jobless when they returned home and formed a band. Unemployed veterans, who formed a group called The Bonus Army, marched on Washington DC to protest. Some people gave up on the protest and left while others stayed. At one point the protest became so violent among veterans... mid-paper... unemployment rates continued to drop while the New Deal was still in effect. People were finally getting back on track with their lives. Citizens now had jobs, money to pay rent, clothing, food, and businesses were reopening. People began to think of the end of the Great Depression as great prosperity. By 1941 the Great Depression was almost over. Because FDR agreed to go to war, World War II was about to begin. Many people have really benefited from it. The war brought the opportunity to create more available jobs in places such as factories. Factories produced weapons for war and needed workers to make them. Small businesses also produced war goods which created more jobs. In 1941 (when the war began) the unemployment rate dropped to 9.7%. America was officially over with the Great Depression. Without the New Deal America would not have been able to recover so quickly.