1874 - 1964
In the soil poisoned by speculation grew those ugly weeds of waste, exploitation, and abuse of financial power. In this overproduction and speculative mania we marched with the rest of the whole world. Republican Party nomination speech
Upon accepting the Republican nomination for President in 1928, Herbert Hoover predicted that "We in America today are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us." Hoover won the presidency that year, but his time in office belied his optimistic assertion. Within eight months of his inauguration, the stock market crashed, signifying the beginning of the Great Depression, the most severe economic crisis the United States had ever known. Rightly or wrongly, Hoover's efforts to combat the Great Depression have defined his presidency and his place in American history.
Herbert Hoover versus the Great Depression
From our Historical Presidency Series, Professor George H. Nash provides an analysis of Hoover’s leadership