Washington D.C. – November 16, 1930. A cold wave swept through the nation, but the chill in the air was nothing compared to the icy grip of economic uncertainty that had President Hoover and Republican leaders scrambling for a solution. The President’s office had just announced a grim prediction: a government deficit by June 30 next year. The Commerce Department’s latest report revealed a staggering 900,000 increase in unemployment since April, a stark contrast to Hoover’s earlier optimistic economic reports from last spring.
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Key Facts
- State: National
- Category: Public Corruption
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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