arsenal of democracy and herbert hoover`s attempts at recovery in first 3 years of depression

Because of this , the current president at that time , Herbert Hoover made various efforts in to solve this problem of depression . But Hoover 's efforts to avert these were a bit off mark , seemingly strange for the situation . The first of his efforts included lowering the taxes for the people , wherein he did so because he wants to lessen the burden to the people , who basically don 't have the money for them to live properly . This was his way of showing his sympathy in the current situation of the country . He also

rounded up the leaders of the industry , businessman who runs production companies in the country and obliged them to keep up the people 's wages and benefits

But surely , the industries leaders wouldn 't comply with these requests thus his policies all failed by of 1932 . Hoover 's policies include the monetary policy , where it was made very tight at around 1930 . This monetary policy were in the hands of the Federal Reserve , thus when the interest rates increased because of the tightening has also affected the federal funds rate . These policies concerning the country would surely need a certain amount of time to change and would have taken a longer while to take effect , but with Hoover , all these were increased in a short amount of time . This gave a big blow on the investments , thus greatly affecting the country 's economy

At the end of the day , most of Hoover 's policies were ineffective adding more pain in the country 's depression . About 6 .4 million jobs were lost in the time of Hoover 's reign , half of it occurring in his last year as a president . The unemployment went up to almost 30 . It has also affected the country 's Gross Domestic Production , and...