USA HISTORY

Detailed explanation-1: -In October, 1929, the bubble burst, and in less than a week, the market dropped by almost half of its recent record highs. Billions of dollars were lost, and thousands of investors were ruined. After the stock market crash, President Hoover sought to prevent panic from spreading throughout the economy.

Detailed explanation-2: -Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American politician who served as the 31st president of the United States from 1929 to 1933. He was a member of the Republican Party, holding office during the onset of the Great Depression in the United States.

Detailed explanation-3: -Before serving as America’s 31st President from 1929 to 1933, Herbert Hoover had achieved international success as a mining engineer and worldwide gratitude as “The Great Humanitarian” who fed war-torn Europe during and after World War I.

Detailed explanation-4: -Hoover, a Republican, took office after a landslide victory in the 1928 presidential election over Democrat Al Smith of New York. His presidency ended following his defeat in the 1932 presidential election by Democrat Franklin D. Roosevelt.