Hoover Essay Money
Even today, Herbert Hoover remains indelibly linked to an economic crisis that put millions of Americans out of work in the 1930s.
The administration negotiated a treaty authorizing construction of the St. S.-Canadian border, only to have it fall victim to senatorial opposition.By the time of his death in October 1964, Hoover had regained much of the luster once attached to his name. To begin with, Hoover was an activist reformer, albeit one without the political skills needed to sell himself and his programs to Congress and the public.The Quaker theologian who eulogized him at his funeral did not exaggerate when he said of Hoover, "The story is a good one and a great one. A shy man, he insisted on keeping much of his life and good deeds out of the public eye.In fact, the 1928 election was a contest between two self-made men, each of whom celebrated the glories of American individualism.Confronted with a heroic opponent who took credit for prosperity while vowing to eliminate society's imperfections, some of Smith's partisans tried portraying Hoover as a dangerous radical. Roosevelt said of Hoover, "He has shown in his own department an alarming desire to issue regulations and to tell businessmen generally how to conduct their affairs." One of the few major issues dividing the candidates was Prohibition, with Hoover supporting the constitutional ban on manufacturing and selling alcoholic beverages and Smith pressing for its repeal.Yet in his final State of the Union Address, Coolidge saw no reason for alarm. Even before his inauguration, he urged the Federal Reserve to halt "crazy and dangerous" gambling on Wall Street by increasing the discount rate the Federal Reserve charged banks for speculative loans.He asked magazines and newspapers to run stories warning of the dangers of rampant speculation.He pressed ahead with plans for a series of dams in the Tennessee Valley and in central California and tax cuts graduated to favor low-income Americans.In other domestic initiatives, Hoover created the Veterans Administration and doubled the number of veterans' hospital facilities, established the antitrust division of the Justice Department to prosecute unfair competition and restraint of trade cases, required air mail carriers to improve service, and advocated federal loans for urban slum clearance.Few Americans have known greater acclaim or more bitter criticism than Herbert Hoover.The son of a Quaker blacksmith, Hoover was orphaned at the age of nine and sent to live with relatives in Oregon.