The 1932 elections the great depression

Millions lost their jobs, thus consumer spending and investment dropped to unimaginable levels. Companies laid-off workers and industrial output wet very low. During this time, the republicans dominated American politics, winning most elections and controlling both houses. This article below is a creative piece of the views as presented by an AHL political correspondent in 1932, shortly before the general elections of 1933. It is worth to note that during this time, the Republicans were in power, with President Herbert Hoover having been in power from 1929 to 1933. Definitely, this makes banks non-operational. Fortunately or unfortunately, the climax of the great depression has come during a time when Americans are supposed to elect their leaders. This makes the 1933 election more or less the most significant election of modern history.

Some Americans blame the incumbent president Hoover and the entire republican ideology for the great revolution. They believe that it is time for Roosevelt and the democrats to save the American dream. With most people employed and receiving decent wages, everyone, from billionaire tycoons to janitors and cooks invested into the stock market, as a result, the markets experienced rapid expansion, which came to its ultimate peak in august 19289, leading to the beginning of the great depression. This resulted in the downfall of many companies, reducing production and employment at the same time. The stock market prices were thus left higher than their actual value. At the same time, the agricultural sector was struggling from drought, food was reducing in prices and banks could not liquidate their large loans (Woolley & Gerhard, 4).

It was literary chaos. However, a deeper analysis reveals that the interferences of hoover actually affected the great depression in a way that escalated it. After the October 29 market crush, Hoover called in a meeting with the leading CEO’s of the time and instructed a few things, among them, to minimize layoffs, and keep the wages at their current levels. He promised to convince workers not to strike. This maneuver was genius only that it didn’t work (Romer, 600). Arguably, Hoover’s worst mistake came two years ago, when he signed the tariff act of 1930, which raised tariffs on imports to levels higher than they had been for the past 100 years. Their differences are deep-rooted, with Hoover being an individual who has made his strides through life and Roosevelt being literary born with the proverbial silver spoon in his mouth.

Hoover’s policies are largely based on lowering taxes. For the past three years, president hoover has insisted that taxes should be lowered especially in local products. At the same time, he has made efforts to keep the wages standard. He is an optimist and strongly believes in the existing American system. The democrat, Roosevelt presents an ideology that is entirely different from the incumbent’s. He is able to speak to people in such a way that they almost certainly agree with him. He is an exceptionally confident man and with his ideologies, he seems to give new hope to Americans (Roosevelt, 1). As a politician, his is charismatic and knows how to keep the people happy. His philosophy does not primarily focus on the underlying problems, but the immediate problems.

As part of the new deal Roosevelt promises to influence congress to end ‘prohibition’ the policy which denies Americans the right to buy beer (Roosevelt, 1). Additionally, he promises to enact acts that will allow American farmers and other workers to increase their collective bargaining power and have a say in their wages and working conditions. These are the opportunities that Americans have been yearning for a very long period of time. It is very clear that Roosevelt knows how to invest in hope, and hope is all Americans need right now. Aspirant Roosevelt argues that part of the reason America has come to such a pitiful situation is due to the selfishness and lust for power by some ‘forces of organized money’.