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writing assignment 1 - Mei-Chih Lin History 1302 Antrece...

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Mei-Chih Lin History 1302 Antrece. Baggett Writing Assignment 1 This essay looks at the presidency of Herbert Hoover, 31 st president of the United States, and Franklin D. Roosevelt, 32 nd president of the United States, and compares their presidency to the current presidency of Barack Obama. This essay will explain the economic situation of each president and the policies of each president, including if they are for big business and how they attempted to fix their economic crisis. When Herbert Hoover came to office, the economy was experiencing an economic boom coming off of the First World War. The automobile and radio were changing the American culture and people were experiencing a new kind of attitude after world war one. Eight months after Hoover was nominated, the Wall Street Crash of 1929 put the economy in a downward spiral (Clements). Hoover was pro-volunteerism, meaning less intervention by the government. This means that the big businesses would have liked him because the government did not interfere with their affairs. The cause of the economic crisis was the Wall Street crash, which caused many people to lose large amounts of money that they had invested (Stock). Hoover tried to use volunteerism to solve the problem, but this ultimately did not save the economy. Hoover also levied the largest tax increase in American history, on the highest incomes from 25% to 63% through the Revenue Act of 1932. Hoover also broke up a group of veteran protesters with
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