Hoover and Smith shake hands as Hoover is elected 31st President of the United States.
Hoover's election in 1928
Black Tuesday occured on October 29, 1929. The NY stock exchanged crashed and lost 11 million dollars in a short amount of time, and everyone began to panic.
After people began to not trust the security of their bank, they went to banks to withdraw all of their funds at one, after banking panics began in 1930.
Black Tuesday&Panic(Bank Runs)
Hooverville was built by the homeless during the Great Depression. Houses were made out of scraps and junk, and it was named after the President at the time, Herbert Clark Hoover.
Presidet Hoover believed it was not the federal governments responsibility to provide support for citizens going through the Great Depression. Other than that, he implemented new programs to try and help banks get back to their normal standards.
Veterans waited outside of the U.S Capitol demanding early payments from their war time. Hoover demanded the Army to clear everyone. The Army drove everyone out by burning their shelter's and camps.
Bonus Army Incident
At the election of 1932, it took place after the Great Depression. Most people lost confidence in Hoover, so FDR won in a landslide.