Review of The Great Depression America 1929-1941 by Robert S. McElvaine
The Great Depression America 1929-1941 by Robert S. McElvaine covers many topics of American history during the "Great Depression" through 1941. The topic that I have selected to compare to the text of American, Past and Present, written by Robert A. Divine, T.H. Breen, George M. Frederickson and R. Hal Williams, is Herbert Hoover, the thirty-first president of the United States and America's president during the horrible "Great Depression".
Divine et al., state that Hoover was a "sober, intelligent, and immensely hardworking" man. McElvaine concurs and explains that "at the age of 29, Hoover was a financier-promoter-geologist-engineer-metallurgist". Divine et al., characterize Herbert Hoover by saying "Hoover epitomized the American myth of a self-made man" and he "embodied the nation's faith in individualism and free enterprise". McElvaine agrees and explains that Hoover "Orphaned and very poor at the age of nine, was a self-made millionaire thirty years later". McElvaine, in agreement, goes on to say that Hoover himself held the opinion that if a man "has not made a million dollars by the time he is forty he is not worth much."
After making his fortune he moved on to various jobs and positions abroad and at home, in 1921 he was appointed by President Harding to the position of Secretary of Commerce. During his tenure as Secretary of Commerce for the Harding-Coolidge administrations, McElvaine reveals that Hoover "was the greatest secretary of commerce in our history". McElvaine explains that Hoover "had no use for the strict laissez-fair attitude of the nineteenth century" and goes on to say that Hoover often said "the root of problem in our economic system was the unfair distribution of income between labor and capital". Divine et al., affirm McElvaine's statements adding that Hoover "sought cooperation between government and business". Divine et al., also state that as Secretary of Commerce, Hoover "used his office to assist American manufacturers and exporters in expanding their overseas trade". Divine et al., support the explanations of McElvaine by also citing that Hoover "strongly supported a trade association movement to encourage cooperation rather than cutthroat competition
he did not view business and government as antagonist".
Hoover won the election of 1928 easily according to Divine et al.
Although the nation listened with little hope, the genuineness behind the words Roosevelt spoke opened the ears of many. While many ridiculed Hoover and found ways to belittle his status with phrases such as “Hoovervilles” to describe shanty towns or “Hoover Blankets” to describe the newspapers individuals used as warmth, he practiced denial. While the people of the nation suffered, his approach to keeping the facade that the economy “was on its way” was to preserve and uphold formal attire and protocol in the White House.... ... middle of paper ...
In the Roaring Twenties, people started buying household materials and stocks that they could not pay for in credit. Farmers, textile workers, and miners all got low wages. In 1929, the stock market crashed. All of these events started the Great Depression. During the beginning of the Great Depression, 9000 banks were closed, ending nine million savings accounts. This lead to the closing of eighty-six thousand businesses, a European depression, an overproduction of food, and a lowering of prices. It also led to more people going hungry, more homeless people, and much lower job wages. There was a 28% increase in the amount of homeless people from 1929 to 1933. And in the midst of the beginning of the Great Depression, President Hoover did nothing to improve the condition of the nation. In 1932, people decided that America needed a change. For the first time in twelve years, they elected a democratic president, President Franklin D. Roosevelt. Immediately he began to work on fixing the American economy. He closed all banks and began a series of laws called the New Laws. L...
Hoover, as Secretary of Commerce attempted to put his vision of the “associative state” into effect. He did this through his belief in de facto intervention in markets through incentives. In no other market did he display this plan more than agriculture, by creating the Food Administration. Hoover pushed for scientific innovations in agriculture, to produce high quality yields and better methods of farming.
The Great Depression tested America’s political organizations like no other event in United States’ history except the Civil War. The most famous explanations of the period are friendly to Roosevelt and the New Deal and very critical of the Republican presidents of the 1920’s, bankers, and businessmen, whom they blame for the collapse. However, Amity Shlaes in her book, The Forgotten Man: A New History of the Great Depression, contests the received wisdom that the Great Depression occurred because capitalism failed, and that it ended because of Roosevelt’s New Deal. Shlaes, a senior fellow at the Council on Foreign Relations and a syndicated financial columnist, argues that government action between 1929 and 1940 unnecessarily deepened and extended the Great Depression.
He quickly moves from the panic of 1929 to the ‘30’s and how many of the popular governmental sentiments during the election were no longer so. Hoover quickly moved from a position of public acceptance and admiration to that of a scapegoat. That the Depression was his fault is not entirely true, though. Hoover did not have much of the information needed to foretell the economic situation. In the laissez-faire form of government he prescribed, there was no place for a department that would document these things for the use of the president’s office.
Hoover shared with the nation after the First World War, and he promised to bring continued peace and prosperity. He declared, “I have an abiding faith in their capacity, integrity and high purpose. “…we find some causes for concern. We have emerged from the losses of the Great War and the reconstruction following it with increased virility and strength.” In this regard, he also pushed the nation to take the blame and the initiative to be responsible to make that change needed.
"America's Great Depression and Roosevelt's New Deal."DPLA. Digital Public Library of America. Web. 20 Nov 2013. .
During the 1920’s, America was a prosperous nation going through the “Big Boom” and loving every second of it. However, this fortune didn’t last long, because with the 1930’s came a period of serious economic recession, a period called the Great Depression. By 1933, a quarter of the nation’s workers (about 40 million) were without jobs. The weekly income rate dropped from $24.76 per week in 1929 to $16.65 per week in 1933 (McElvaine, 8). After President Hoover failed to rectify the recession situation, Franklin D. Roosevelt began his term with the hopeful New Deal. In two installments, Roosevelt hoped to relieve short term suffering with the first, and redistribution of money amongst the poor with the second. Throughout these years of the depression, many Americans spoke their minds through pen and paper. Many criticized Hoover’s policies of the early Depression and praised the Roosevelts’ efforts. Each opinion about the causes and solutions of the Great Depression are based upon economic, racial and social standing in America.
The Great Depression hit the United States while Hoover was serving his first and only term as president. In the end, the public saw Hoover as a man who began his presidency as a liberal, but who’s beliefs began to resemble those of a conservative towards the end of his term. The Progressive Age had come to an end by 1910 and big business thrived as Harding, Coolidge, an...
In response to the Stock Market Crash of 1929 and the Great Depression, Franklin D. Roosevelt was ready for action unlike the previous President, Hubert Hoover. Hoover allowed the country to fall into a complete state of depression with his small concern of the major economic problems occurring. FDR began to show major and immediate improvements, with his outstanding actions during the First Hundred Days. He declared the bank holiday as well as setting up the New Deal policy. Hoover on the other hand; allowed the U.S. to slide right into the depression, giving Americans the power to blame him. Although he tried his best to improve the economy’s status during the depression and ‘pump the well’ for the economy, he eventually accepted that the Great Depression was inevitable.
As Document A suggests, Hoover did not want to be considered completely laissez-faire. He seemed less determined to preserve the extremely capitalistic society of the 1920's which was run, often corruptly, by political machines, such as Tweed. However, the success of the American economy under the private interest beliefs of Harding and Coolidge required him to ensure that the lack of intervention ... ... middle of paper ... ...ca afloat as shown in Document D. Roosevelt immediately gained the public's favor with his liberal ideas.
The US government’s role in the Great Depression has been very controversy. Different hypothesizes argued differently on the causes of the Great depression and whether the New Deal introduced by the government and President Roosevelt helped United States got out of the depression. I would argue that even though not the only factor, the US government did lead the country into the Great Depression and the New Deal actually delayed the recovery process. I will discuss five different factors (stock market crash, bank failure, tariff and tax cut, consumer spending and agriculture) that are commonly accepted to cause the depression and how the government linked to them. Furthermore, I will try to show how the government prolonged the depression in the United States by introducing the New Deal.
Because the economy was doing so well during the “Roaring 20s”, there wasn’t much of a dispute over this type of leadership. While President Hoover kept that same mindset in his approach to economic recovery, his successor President Franklin Delano Roosevelt took a completely different and pragmatic approach, willing to think outside of what was accepted at the time. President Hoover continually reminded Americans that things would get better if they kept working hard and pushed through. “Franklin D. Roosevelt introduced programs between 1933 and 1938, designed to help America pull out of the Great Depression by addressing high rates of unemployment and poverty. An array of services, regulations, and subsidies were introduced by FDR and Congress, including widespread work creation programs.
The Great Depression was the deepest and longest-lasting economic downfall in the history of the United Sates. No event has yet to rival The Great Depression to the present day today although we have had recessions in the past, and some economic panics, fears. Thankfully the United States of America has had its shares of experiences from the foundation of this country and throughout its growth many economic crises have occurred. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors ("The Great Depression."). In turn from this single tragic event, numerous amounts of chain reactions occurred.
"Great Depression in the United States." Microsoft Encarta Encyclopedia 2001. CD-ROM. 2001 ed. Microsoft Corporation. 2001