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Bad Presidents pp 163-176 | Cite as

Weathering the Storm: Herbert Hoover

  • Philip Abbott
Part of the The Evolving American Presidency Series book series (EAP)

Abstract

When the stock market crashed, Herbert Hoover had only been in office for 8 months. In 1929, the market stood at 485. By 1932, it was 85. Banks closed (10,000 of them between 1929 and 1934); drought conditions were reported in 300 counties in 30 states; 12 million people were unemployed by May 1932; and farmers lost their land to banks and/or tax collectors. In a single day in April 1932, one-fourth of the entire area of the state of Mississippi went under the hammer of auctioneers. Perhaps as many as a million men and boys left their homes, wandering the country looking for work. By January 1931, New York City operated 82 bread lines feeding 85,000 people a day. Farm income plummeted as corn prices fell to pre–Civil War levels. Many schools closed for lack of public funds.

Keywords

Great Depression American System American Individualism Corn Price Unfair Practice 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

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Copyright information

© Philip Abbott 2013

Authors and Affiliations

  • Philip Abbott

There are no affiliations available

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