herbert hoover
In early September 1927 share prices on the Wall Street stock market began to slip, unlike the last 7 years when they had been constantly rising. Experienced stockbrokers began to sell their shares because they saw that the prices would probably fall. Normal working class people saw the stockbrokers doing this, and suspected something was going wrong and they began to sell their shares too. Soon after everyone began to panic and were selling their shares as quickly as possible. Prices of shares plummeted and people were selling their shares for anything they could possibly get. Then on Tuesday, 29th of October 1929, 16 410 000 shares were traded in the worst day in history of the New York stock market. No one would buy the shares and everyone was panicking. All shares lost a huge amount of their value and nearly all people, wealthy or poor were hit. Herbert Clarke Hoover started off with nothing in life. His parents died before he was 9 and he was left to be brought up by his uncle who was a Quaker Doctor and his aunt in Oregon. He only stayed in High School till he was 14 then he left for work as an office boy. He became interested in engineering and went to university and graduated with a degree of mining and engineering. In
But the Wall Street crash ended all those hopes and dreams. this created millions more job opportunities. But it didn't, many people blamed Hoover for being poor and unemployed, as a result he became extremely unpopular. Word Count - 1,557. Hoovers work during the war brought him to the attention of President Harding, who made him secretary of commerce. In 1935 another organization formed called the Works Progress Administration and this funded various projects such as schools, roadwork's and hospitals and also the Federal Theatre project which employed playwrights artists, actors, musicians and circus people and this also caused people to appreciate the arts more than before. One of the most important parts of the recovery section of the New Deal was the National Industrial Recovery Act which was aimed at getting people to work permanently, which then they would be able to buy more because they had more money, and then stimulating the economy. But this was too little too late because Hoover lost the presidential election to Franklin D. He was continuously helping Americans during the war, which pleased the people. This had nearly no effect because it was brought in too late; American exports in 1932 were less than a third of what they were in 1929. A memorable quote from President Roosevelt was "The only thing we have to fear is fear itself" which brought confidence to America by telling them that they have nothing to fear. Also the New Deal did bring hope back to America, it was not that which got them out of the Great Depression, it was only World War 2 that did that. The new deal did achieve a significant amount, but there were some areas that did not achieve what Roosevelt had hoped they would, such as the Farmers Relief Act, which I explained earlier, was partly successful, but also with that many farm labourers lost their jobs. The New Deal was very successful compared to any of Hoover's efforts to get America out of the Depression, which almost appeared to be nothing.
Common topics in this essay:
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Acceptance Essays
