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During Hoover's administration, the stock market collapsed. This was such a huge deal because people were borrowing money from the banks and putting in stock market. When the collapse occurred people were unable to repay the banks the money they took out, the banks failed.
The republican party emerged in 1854 to combat the Kansas Nebraska act and the expansion of slavery into American territories the early republican party consisted of the Africans Americans, northern white protestants, businessman, professionals, factory workers, and farmers
