What impact did the crash have on the economy?When President Hoover began in office in 1929 things were superficially good. Hoover declared that he had “no fears for the future of our country, it is bright with hope.” He was very confident. He began as businessman with a business plan. His cabinet was like a board room. His watchwords were business management and efficiency. Yet was there a feeling of insecurity lurking behind the confidence, a sense that everything wasn’t very well?
Dr David Perkins