Franklin D. Roosevelt & Herbert Hoover Methods of coping with the Great Depression

A detailed Summary of Franklin D. Roosevelt & Herbert Hoover Methods of coping with the Great Depression

Franklin D. Roosevelt and Herbert Hoover both used similar and different approaches in coping with the Great Depression. The two main attempts to end the Great Depression were through the Reconstruction Finance Corporation (RFC), and the National Recovery Administration (NRA). Because Hoover was accustomed to rely on private measures, he believed that people should raise themselves up and the government should not be involved in the depression, after the depression to grow, he realized that the government needed to take more direct action. On the other hand, FDR believed that the government should do all it could to help the "little people" in this Great Depression, right from the start of his presidency.

The Reconstruction Finance Corporation was a more Conservative attempt to end the Great Depre

ssion. The RFC was a "trickle-down" method that started began with paying back all the government debts (war debts & reparations), then providing emergency loans to banks, building and loan societies, railroads, and agricultural stabilization corporations. The "trickle-down" method was the belief that if the government and big businesses were helped, then eventually the benefits would trickle down to the "little people". This attempt was known to be the most radical, innovative, important step in fighting the Great Depression. Hoover planned to end the Great Depression through restoring public confidence in the economic situation and urging voluntarism. However, that plan did not carry out, so Hoover planned to restore international stability. The RFC was not very involved with the "little people" b

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Approximate Word count = 544
Approximate Pages = 2 (250 words per page double spaced)

Category: History

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