Emergence Of Modern America: The Depression - Declining Confidence

The video discusses President Hoover's response to the economic downturn following the stock market crash. Hoover attempted to boost confidence by cutting taxes and stabilizing wages, but these measures had limited success. The media's focus on negative stories further eroded public confidence. The crash affected different economic classes, with small businesses and banks suffering greatly. Hoover's policies, including the Smoot-Hawley Tariff, worsened the situation by reducing international trade. Unemployment soared, and both urban and rural areas faced severe economic challenges.

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