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Introduction. Herbert Hoover (1874-1964), Americaâs 31st president, took office in 1929, the year the U.S. economy plummeted into the Great Depression. Although his predecessorsâ policies undoubtedly contributed to the crisis, which lasted over a decade, Hoover bore much of the blame in the minds of the American people.
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. While not believing in charity by the government, he gave much of his money to charity and encouraged Americans to do the same.