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Hoover blamed the Depression on foreign economic collapse over which he had no control. Major European banks went bankrupt, causing alarm in other foreign banks. Great Britain went off the gold standard. The Bank of England no longer redeemed its paper money in gold bullion or coin. Investors feared that all paper money would lose its value so they withdrew $1.5 billion in gold from American banks. This further weakened the global economic situation.
What else can I help you with?
What did President Hoover do to America?
Do to America? Are we supposed to say he caused the Great Depression? How simple minded!
Which of these were attempts made by President Hoover to eliminate the problems created by the Great Depression?
What effort did Hoover make to alleviate the problem caused by the depression
Who was the president in power during the Great Depression?
Herbert Hoover was President when the Great Depression began. Franklin Roosevelt was President when the Depression ended.
Who was the president at the beginning of the Great Depression?
Herbert Hoover had just become President in 1929 when the Great Depression began. His ineffective response led to his defeat by Franklin D. Roosevelt in 1932.
Who was the President of US when the depression hit?
Herbert Hoover - http://www.u-s-history.com/pages/h1580.html
What Great Depression era President?
Herbert Hoover
Who is president at start of the Great Depression?
Herbert Hoover
Who was the president before the Great Depression?
Hoover was the president when the Great Depression hit.
Who was the president when the great depression began?
Herbert Hoover was the president when the great crash hit Wall Street in 1929.
Who was president of the US when the great depression began?
Herbert Hoover was president when it became obvious that the economy was in a depression.
Was the great depression avoidable?
Yes if hoover wasn't president
What year did The president make official that The Great Depression was The Great Depression?
1928-1933 by Herbert Clark Hoover the 31 president
