President Herbert Hoover
Woodrow Wilson, Warren Harding, and Calvin Coolidge served as presidents in the 1920's before Hoover. Since the economy in the 20's was booming, businesses and society was doing well. These three presidents all had very low government regulations, because there was no need to intervene. Problems within America were very minimal during this decade. When Hoover got elected in 1929, he thought it would be fine to keep the laid back style the previous presidents had. He did not like stepping in as President to help people or change things that were wrong in the society, because he thought everything would eventually fix itself. This was a problem though because the economy and country needed regulation to help get through the Great Depression. He underestimated the severness of the economic crises of the 1930's and did not provide the help that was needed. Hoover realized towards the end of his term that things needed to be changed--but it was too late.
This did not stop him from trying to build the Boulder Dam, also known as the Hoover Dam, in 1931. He hoped this would create construction jobs and give people hope. But everyone already lost hope in him. Hoover tried doing some other projects as well. First, he provided railroads, banks, and other financial institutions with $2 billion for loans by establishing the The Reconstruction Finance Corporation (RFC) in 1932. This did help keep banks in business and help create jobs working on the railroads. Surprisingly, most of the loans were paid back. Moreover, Hoover passed the Emergency Relief and Construction Act in 1932, which goes is directly connected with the RFC because it is what gave the RFC money. Without the Emergency Relief and Construction Act, there would not be a Reconstruction Finance Corporation. Furthermore, the Federal Home Loan Bank Act was passed in 1932, which helped to make owning a house more attainable for most Americans.
Summary
Hoover liked to encourage and facilitate cooperation rather than force it. He believed in the importance of “rugged individualism” and doing the best you can in order to succeed through your own efforts. He thought that government shouldn't have to get involved with people's economic lives or help people out. He provided no federal welfare because he wanted people to be able to create their own success. This cautious and relaxed approach caused people to dislike him. America wanted to get better and get out of the Great Depression, and Hoover wasn’t the person to help.
This did not stop him from trying to build the Boulder Dam, also known as the Hoover Dam, in 1931. He hoped this would create construction jobs and give people hope. But everyone already lost hope in him. Hoover tried doing some other projects as well. First, he provided railroads, banks, and other financial institutions with $2 billion for loans by establishing the The Reconstruction Finance Corporation (RFC) in 1932. This did help keep banks in business and help create jobs working on the railroads. Surprisingly, most of the loans were paid back. Moreover, Hoover passed the Emergency Relief and Construction Act in 1932, which goes is directly connected with the RFC because it is what gave the RFC money. Without the Emergency Relief and Construction Act, there would not be a Reconstruction Finance Corporation. Furthermore, the Federal Home Loan Bank Act was passed in 1932, which helped to make owning a house more attainable for most Americans.
Summary
Hoover liked to encourage and facilitate cooperation rather than force it. He believed in the importance of “rugged individualism” and doing the best you can in order to succeed through your own efforts. He thought that government shouldn't have to get involved with people's economic lives or help people out. He provided no federal welfare because he wanted people to be able to create their own success. This cautious and relaxed approach caused people to dislike him. America wanted to get better and get out of the Great Depression, and Hoover wasn’t the person to help.
President Franklin D. Roosevelt
President FDR had a "Can do" attitude. He was very positive and wanted America to get better. Since he wanted it to get better, there was a high government regulation when he was in office. He was in office for 12 years. When he made his Inauguration speech, he said, "'We have nothing to fear but fear itself!'" (FDR and His Philosophies) FDR had hope, and he wanted the people in America to believe in him and the country too. He was ready to change the economy and get America out of the Great Depression.
For more about FDR and what he did, please see The New Deal page.
For more about FDR and what he did, please see The New Deal page.