How Did Hoover Lead Up To The Great Depression

Thursday, October 24, 1929 the New York Stock Exchange opened the same as usual, but soon prices began to come down. Just five days later things got far worse. This day is known as “Black Tuesday” on October 29th, 1929 more than 30$ billion dollars in “securities self-destructed” (103). Many presidents that came before Hoover had also dealt with economic hardships and ultimately did nothing. And just like Hoovers predecessors he too ended up doing nothing, he was also coined the nickname the “do-nothing president” (104). At first he seemed to do a lot during mid November he held council for nine days he brought together the “finance, constriction, public utilities, agriculture, labor, and the Federal Reserve system” (104). He brought all of these groups together in order to get the finances of the United Sates in order once again. One of the first things he did was urge manufacture to keep wage rates at a good rate. He believed that by manufactures doing this it would help surge the economy once again and make it easier for customers to start purchasing the things that they need. Over time things got progressively worse. It seems that over time Hoover lost his enthusiasm to save the country. It seems that Hoover had many ideas on how to solve the issue at hand, but either the Congress could not agree with
Furthermore, as the situation got worse and the spirits of the American people were getting low the enthusiasm of the President also got low as well. When things began not to go Hoover’s way it seems that he retracted so much. In times when the country is in crisis we as citizens often look to our current president for guidance and support through the dark times. In the case of Hoover it was not as it seems “in these dark hours, the nation looked to the president for guidance comfort, and good cheer, but looked in vain”