They were engaged in Activism.
President Hoover held a deep belief in the philosophy of American individualism and maintained his position in the face of massive economic hardships the country was suffering. A figure like Hoover represented a case of the worst possible ideology in charge at the worst possible time, as he had to deal with nothing less than the Great Depression.
He consistently denied government intervention refusing to give hand-outs or any kind of direct help, basically asking instead for Americans to work harder and find their own way out of poverty, while asking businesses for a "spirit of volunteerism" keeping people employed.
After tensions had grown and protests were rising, he did put in place some programs for putting people back to work and organizing charity work. But these programs were way too small and came too late, only managing to help a tiny portion of people in need. Circumstances only got worse and the public was completely maddened by Hoover's administration. Americans didn't precisely believe that Hoover was to blame for the Great Depression but the rage towards him was a result of the president's absolute refusal to help people with immediate, direct assistance, which was needed during a time were an immense portion of citizens were struggling to even get through the day.
He left office with one of the lowest approval ratings of any president in history and was bound to lose in the following Presidential election of 1932.
Hope this helps!
In 1790, the national bank Hamilton established: national currency
By the time national currency was established, it mandated people who live in the country to only acknowledged the national currency as the standard medium of exchange for every transaction. This was a part of the agreement that was made on the Constitutional Convention on September 17, 1787.
Answer:
The Federalists clashed frequently with Democratic-Republicans who disagreed sharply with what they regarded as a philosophy of "huge public debt, a standing army, high taxes, and government-subsidized monopolies"
Explanation:
The person who has been known up until today as the "father of modern economics" is Adam Smith. A thinker and philosopher from Scotland, born in 1723 and died in 1790, Adam Smith was given this important title because of his ideas and theories on laissez-fair and the tendency of free markets to regulate themselves by way of competition, supply, demand and self-interest. He wrote several books where he proposed his economic ideas, among which we have: The Theory of Moral Sentiments, where he expresses this ideal of a hidden hand, which means the capacity of markets to autoregulate and An Inquiry into the Nature and Causes of the Wealth of Nations. He was also the proponent of the theory of compensating wage differentials, which states that jobs that are riskier pay much better wages to workers because of the risk they represent, versus jobs that offer little to no risk. He is also known as the father of Capitalism.
