Presidential Election of 1932

THE 1932 PRESIDENTIAL election is considered one of the more significant elections in American history. It not only signaled a shift from more than a decade of consecutive Republican administrations, it was the first victory for the man who would eventually be the first (and only) American president to be elected to office four times. The collapse of the U.S. economy in 1929, [Page 623]combined with the onslaught of a drought of monumental proportions, led the nation into an unparalleled national depression. The Great Depression caused many Americans to question the leadership abilities of incumbent Herbert Hoover.

The economic depression, which exploded with the 1929 stock market crash, worsened in late 1931 with the collapse of the international economy and the worsening of a severe drought in middle America. Along with the nation's troubles, the crisis of the president, Herbert Hoover, grew more severe. Although easily elected in 1928, Hoover's administration was plagued with problems. He was severely criticized for not doing enough to rectify economic problems, specifically the rapidly-rising unemployment rate. Hoover was an economic conservative who strongly believed in the gold standard doctrine and in adhering to a balanced budget. Many Americans believed Hoover was not taking actions to combat the Depression. In reality, he did make several attempts, beginning with a tax increase, which he believed would cause a “trickle-down” effect that would aid the masses. The Revenue Act of 1932 and the Glass-Steagall Act were further efforts at repairing the tattered economy; they were, however, too little too late.

Hoover believed in people's ability to work and provide for themselves; any charity that might be necessary should come from the private sector, and not the government, according to the president. But as Americans suffered their third winter of the Depression and unemployment reached new highs, this philosophy drew even more fire from critics. The media portrayed Hoover as a rigid man with no emotions, whose inflexible commitment to traditional economic doctrines caused Americans to be cold and hungry. The cardboard box villages that housed the homeless became Hoovervilles, the newspapers used for warmth by vagrants were Hoover blankets, and the state of America was called the Hoover Depression. Despite criticism, Hoover remained dedicated to public service and accepted the nomination of the Republican Party in 1932.