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The Great Crash & The Great Depression, Both party shared a similar…

- - - - Oaths of high spending strategy were broken
        #failure
      - Consumerism still fell
        #failure
        
        GNP fell by around 30%
        Unemployment is at 16% of work force
        (1929-1931)
    - - Failure: Only Spent $10 million of the $500 million (hesitant to buy risky assets and lose money)
        e.g. 2293 bank failures (1931)
        
        The NCC became... "ultra-conservative, then fearful, and finally died"
        -Hoover
    - - formed President's Emergency Committee for Employment as the maximum federal intervention Hoover allowed
- - - - The Wall Street Crash (1929) is also seen as a symptom alternatively instead of a cause of the Great Depression and US financial weakness
- - - - Roosevelt did not explain the details of his reformation plans
- - - - Fall of Share Prices:
        
        American Can: $181 - $86
        
        General Electric: $396 - $168
        
        Montgomery Ward Company: $137 - $49
        
        (3 Sep 1929 - 13 Nov 1929)
        
        US Steel: $262 - $22
        
        General Motors: $73 - $8
        
        (1929 - 1932)
- - - - Hoover (knowing that communists helped organised the march) felt the protest as a threat to democracy and so dispelled the group by General Douglas MacArthur from occupied government buildings
        
        They used machine guns. tanks and tear gas in the process and burnt their shanty shacks
        
        Many felt Hoover had #overreacted and was too #unsympathetic