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)


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.


Great Depression American System American Individualism Corn Price Unfair Practice 
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© Philip Abbott 2013

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  • Philip Abbott

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