Original scientific paper
Denis Pavić
; Faculty of Philosophy, J. J. Strossmayer University Osijek, Osijek, Croatia
Ivan Balta
; Faculty of Philosophy, J. J. Strossmayer University Osijek, Osijek, Croatia
Abstract
In the end of 1920s, there was a recession in the USA, which had disastrous consequences for the whole nation. Millions of people became unemployed, lost their property, and the situation in the country did not give reasons for optimism. During the great depression, the country was ruled by Herbert Hoover with his policy "drop on drop". Large problems require serious measures, and not administration in Hoover's way. USA came into even bigger recession, and that was the end of Hoover being president. After his bad administration during recession, it was logical for him to easily loose the next presidential elections in 1932 and to be remembered as a great loser.
Presidential campaign in 1932 was mostly debate on causes and possible solutions of the crises. Herbert Hoover, who was unlucky to enter the White House only eight months before the Stock Exchange breakdown, fought tirelessly, but his efforts did not revive the economy. His democratic adversary, F. D. Roosevelt was already popular as a governor of the state of New York, during the crises. Roosevelt used to point out that depression originated in bad economical policy of Republicans during 1920s. Hoover would answer that the economy was built on firm foundation, but it was shaken by crises in the world, beginnings of which date back to World War One. There was a clear implication behind this argument: Hoover had to count mostly on process on natural recovery, while Roosevelt was ready to use authorities of federal administration to make experimental attempts.
The elections resulted in big victory of Roosevelt who won 22,800,000 of votes against Hoover's 15,700,000. The United States of America were entering an era of economic and political changes, started by Roosevelt in his New Deal programs. Although there were some inadequate effects, Roosevelt's program resulted in overcoming the recession, but it also made a way for the USA to become the world's leading economic power and to stay in that position until present tines, when their budget surplus annually amounts to billions and billions of dollars.
Keywords
Hrčak ID:
77816
URI
Publication date:
28.5.2007.
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