The 1932 Election: President Hoover vs. FDR | US HISTORY HELP: The Great Depression

Summary

The 1932 U.S. presidential election was shaped by the aftermath of the Great Depression. Incumbent President Herbert Hoover believed in minimal government intervention, promoting 'rugged individualism' and supporting businesses to restore the economy. In contrast, Franklin D. Roosevelt (FDR) advocated for direct government assistance through the New Deal, which aimed at relief, recovery, and reform to help both people and businesses. The American public ultimately rejected Hoover’s approach and elected FDR, setting the stage for transformative changes like the creation of Social Security.

Takeaways

• 😀 The 1932 U.S. presidential election occurred during the Great Depression, which began after the stock market crash of 1929.
• 😀 Herbert Hoover, the incumbent president, believed in 'rugged individualism,' which emphasized people solving their problems without direct government aid.
• 😀 Hoover's recovery plan focused on helping businesses through the Reconstruction Finance Corporation (RFC), with the hope that businesses would create jobs and stimulate the economy.
• 😀 Hoover believed that government intervention could lead to dependency, which would undermine Americans' self-reliance and work ethic.
• 😀 Franklin Delano Roosevelt (FDR), Hoover's opponent, proposed the New Deal, advocating for more direct government assistance to both individuals and businesses.
• 😀 The New Deal was built around three main goals: relief, recovery, and reform. Relief aimed to help people immediately, recovery aimed to stimulate economic growth, and reform aimed to fix the causes of the Great Depression.
• 😀 The New Deal included relief programs to provide food, shelter, and jobs for those in need, especially those living in Hoovervilles.
• 😀 Recovery efforts in the New Deal focused on rebuilding trust in banks, encouraging stock market investments, and stimulating economic activity.
• 😀 The New Deal also aimed at reforming the financial system to prevent another economic collapse, addressing issues like banking failures and stock market instability.
• 😀 FDR's approach to the economy was more interventionist than Hoover's, leading to the implementation of programs like Social Security and fundamentally changing the role of the government in American economic life.

Q & A

What event triggered the Great Depression in 1929?

The stock market crash on October 29th, 1929, known as Black Tuesday, triggered the Great Depression.

How did Herbert Hoover view the role of government in people's lives during the Great Depression?

Herbert Hoover believed in limiting government intervention and emphasized 'rugged individualism,' where people should rely on themselves and private businesses to solve their problems, rather than expecting direct government aid.

What was the purpose of the Reconstruction Finance Corporation (RFC)?

The RFC was created to provide emergency loans to businesses, hoping that by helping businesses, they would hire more people, leading to economic recovery through a cycle of growth and job creation.

What was the central belief behind Hoover's approach to helping the economy?

Hoover believed that aiding businesses would eventually lead to economic recovery, as businesses would hire workers, and workers would spend money to stimulate the economy.

How did FDR's approach to the government's role in the economy differ from Hoover's?

FDR believed that the government should play a more active role in directly helping people, not just businesses. He proposed the New Deal, which included government programs to assist people directly and support economic recovery.

What was the New Deal and what were its key components?

The New Deal was a series of government programs proposed by FDR to address the effects of the Great Depression. It aimed to provide relief, recovery, and reform through direct help to people, job creation, and reforms to prevent future economic crises.

What are the '3 Rs' in the context of the New Deal?

The '3 Rs' refer to Relief (immediate help for people in need), Recovery (stimulating the economy and businesses), and Reform (fixing systemic problems that contributed to the Depression).

How did FDR's New Deal propose to reform the banking system?

The New Deal aimed to reform the banking system by preventing bank failures and restoring trust in financial institutions, thus stabilizing the economy and encouraging investment.

What was Hoovervilles, and why did they exist?

Hoovervilles were makeshift towns or shantytowns where homeless people lived during the Great Depression, named sarcastically after President Hoover, whom many blamed for the economic hardship.

How did Americans respond to the 1932 election between Hoover and FDR?

Americans overwhelmingly rejected Hoover's conservative approach and elected FDR, who promised a more active role for the government in helping people and reviving the economy.