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Herbert Hoover

33 bytes removed, 01:08, February 1, 2011
who says the charges were false? throwing gasoline on a fire is not an "attempt to extinguish"
Hoover won by a smashing landslide, carrying the more urban middle class areas of the South and nearly the entire North, apart from Catholic strongholds like New York City and Boston.
==Presidency: Great Depression==
Although Hoover later came under sustained and intense attack that he did nothing to reverse the depression, the charges were false. He tried any number of approached--but none worked and the economy continued to spiral downward. His basic assumption, from 1929 to 1931, was that it was a temporary short cycle, and like all previous downturns would end shortly. Meanwhile his job was to maintain public optimism, because pessimism would make people cut back further and prolong the downturn. Hoover was using the best available economic knowledge.
===Expanding public works===
Hoover in late 1930 created The President's Emergency Committee on Employment (PECE), as unemployment reached 11%.<ref> Estimates of unemployment were only roughly approximate before 1933.</ref> PECE tried to mobilize private charity and encouraged states, cities and Congress to increase public works spending as a stimulus. They did so, and soon the states and cities were nearly bankrupt on their own. In August 1931, finally realizing this was not a normal cycle, Hoover replaced PECE with the President's Organization on Unemployment Relief (POUR), headed by Walter S. Gifford, president of American Telephone and Telegraph, the nation's largest private company. POUR expanded, coordinated, and improved local and state relief efforts; but the economy relentlessly went lower.
Ed Poor
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