This Quote From President Hoover Reflects His Belief That
The Great Depression
President Herbert Hoover was in office during the Great Depression, which was a time of economic hardship for the United States. During this time, many people were out of work and struggling to make ends meet. Hoover believed that the government should not intervene in the economy and that individuals should be responsible for their own well-being.
"Rugged Individualism"
Hoover's philosophy, which he called "rugged individualism," was based on the belief that people should be self-reliant and not depend on the government for help. He believed that if people worked hard and took responsibility for their own lives, they would be able to succeed and overcome any challenges that came their way.
"Prosperity is Just Around the Corner"
Despite the economic hardships of the Great Depression, President Hoover remained optimistic about the future. He famously said, "Prosperity is just around the corner," believing that the economy would eventually recover on its own without government intervention.
The Smoot-Hawley Tariff Act
One of Hoover's biggest mistakes during the Great Depression was the passage of the Smoot-Hawley Tariff Act, which raised tariffs on imported goods. This led to a decrease in international trade and made it harder for American businesses to compete in the global market.
The Bonus Army
In 1932, a group of World War I veterans, known as the Bonus Army, marched on Washington, D.C. to demand early payment of bonuses they were promised for their service. Hoover ordered the military to disperse the protesters, which led to a violent clash and damaged his reputation even further.
The New Deal
Hoover's approach to the Great Depression was criticized as ineffective, and he lost the election of 1932 to Franklin D. Roosevelt. Roosevelt's New Deal policies, which included government intervention in the economy, were seen as a more effective response to the economic crisis.
Hoover's Legacy
President Hoover's legacy is mixed. While he is often criticized for his response to the Great Depression, he also made important contributions to American society. He was a humanitarian who worked to improve living conditions around the world, and he played a key role in the development of the Hoover Dam, which provided electricity and water to the southwestern United States.
Conclusion
President Hoover believed in the power of the individual and the importance of self-reliance. While his approach to the Great Depression was ultimately seen as ineffective, his legacy includes important contributions to American society and the world at large.