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INTRO: Great Depression

A U.S. stock market crash in 1929 sparked the decade-long international economic downturn known as the Great Depression.

Hoover was a Quaker, and he made that apparent in the way he led American though the Great Depression during his term. While not believing in charity by the government, Hoover did try and help the economic mess that began during his administration. He gave much of his money to charity and encouraged Americans to do the same. He broke with Republicans and did away with the taxes that had been placed on citizens during the Coolidge administration. He thought that would allow for more income being spent to help the economy rebound. He spent $500 million a year on public works and government programs to build or improve government properties. The most famous was the Hoover (Boulder) Dam. However, many would look back and say, he didn't do much at all.

Hoover as President

 

The stock market crashed on Thursday, October 24, 1929, less than eight months into Herbert Hoover’s presidency. Most experts, including Hoover thought that the crash was part of a passing recession.

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