preview

How Did Hoover Prevent The Great Depression?

Decent Essays

When the Great Depression started in October of 1929 Hoover wasn't entirely in charge. The economy was going down south. Hoover's reaction at first wasn't much, but when things started to get worse as he took immediate measures.
In 1932 President Hoover got elected. He thought that the Great Depression was only a temporary situation and that the economy would come back to its original good terms on its own. Unfortunately, this did not occur. The laissez faire, in which the government does not get involved, was not helping the economy get any better.
Hoover, then introduces the Hawley Smoot Tariff Act. This act implied that the wages would increase, but the taxes would also stay high. This did not result in a positive way. Businesses closed

Get Access