2007-01-23 02:25:09 · 5 answers · asked by Anonymous in Arts & Humanities ➔ History
Nothing to prevent it, the stock market crash happened too soon after his inauguration for that. He could have done more to help with the effects, though.
2007-01-23 02:30:30 · answer #1 · answered by Captain Hammer 6 · 0⤊ 0⤋
Nothing. Hoover was not responsible for the depression. Greed and foul economics combined with drought and unemployment were the roots of that era. The politics of fools had a hand in it but no one can put the blame on one man for a global disaster. It was a culmination of many things coming together at once. Something like the perfect storm.
2007-01-23 02:32:53 · answer #2 · answered by the old dog 7 · 0⤊ 0⤋
Hoover didn’t cause the Depression it was caused by several factors one was that money was tied to the gold standard and two there was no federal reserve system in place. All the money ended up in New York and California which left no money in the central parts of the United States. They could not print more money since it was tied to the gold reserves and you had to have more gold to print more money. The stock market crashed since everyone bought stocks on margin with borrowed money and when the market adjusted no one had money to pay.
Basically in order to prevent the Depression Hoover would have had to known before he came in office that the country was susceptible to the pooling of money and had the plan to create the Federal Reserve System to prevent that. Also he would have had to create monetary policy to prevent people to buy stocks on margin with borrowed money.
2007-01-23 02:45:26 · answer #3 · answered by answerman 3 · 1⤊ 0⤋
The Great Depression was not caused by Hoover. It was world wide. It was broken by the build-up to fight Hitler.
2007-01-23 02:31:06 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Start a war?
2007-01-23 02:33:17 · answer #5 · answered by debbieschwencke 2 · 0⤊ 0⤋