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Essay / President Hoover and the Great Depression - 1188
Many people believed that President Hoover did not take appropriate action to end the conditions of the Great Depression. President Hoover believed that the decline in the economy would only be temporary. Hoover decided to give advice to businesses and local authorities. He asked companies not to cut wages or production. This ultimately led to overproduction and then unemployment. These are two major elements of the Great Depression and are also the reason why people believed that President Hoover did not take appropriate action to end the conditions of the Great Depression. Then Hoover even agreed to provide more money for public works. He believed it would help create more jobs to create bridges, parks and libraries. Later, state and local governments ran out of money to finance 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 was back when money was loaned to businesses or programs to help the needy or, in other words, relief. This plan did not succeed because the leaders did not want to grant risky loans and suffer the consequences. President Hoover also refused to immediately grant World War I veterans their $1,000 bonus. The soldiers were promised a $1,000 bonus by 1945. As these soldiers were returning home in the middle of the Great Depression, they wanted and needed their money in advance. Most veterans were out of work by the time they returned home and formed a group. Unemployed veterans, who formed a group called The Bonus Army, marched to Washington DC to protest. Some people abandoned the protest and left while others stayed. At one point the protest turned so purple among the veterans...middle of the paper...employment rates continued to decline 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 for clothes, food and businesses were reopening. People began to view the end of the Great Depression as great prosperity. By 1941, the Great Depression was almost over. Since FDR agreed to go to war, World War II was about to begin. A lot of people really benefited from it. The war created more available job opportunities in places such as factories. Factories made weapons of war and needed workers to make them. Small businesses also manufactured war goods, which created more jobs. By 1941 (at the start of the war), the unemployment rate had fallen to 9.7%. America was officially over after the Great Depression. Without the New Deal, America could not have recovered so quickly..