President Hoover's Term
...ses went bankrupt, farmers lost their land and millions of Americans lost their jobs. Technology led to the recovery of the economy. The creation of the assembly line made the automobile industry boom. Because of the automobile, it stimulated growth in other, related industries as well. President Hoover attempted to restore public confidence in the economy. He summoned leaders of business, labor, and agriculture and urged them to adopt a program of voluntary cooperation for recovery. He implored companies not to cut production or lay off workers. This failed as economic conditions deteriorated and the cooperation he had erected collapsed. Hoover attempted to use government spending to fight the Depression. He hoped this would create jobs but the spending was not nearly enough. When conditions worsened, he became less ...