What economic principles guided president hoover and congress in their response to the great depression?

President Hoover and Congress reacted to that by drawing on two strong American customs:

1) The conviction that financial results were in the hands of individual character. Individuals' destiny was in their own particular hands, and achievement reached the individuals who merited it.

2) Through voluntary activity, the business group could correct itself and recuperate from financial downturns without depending on government help.

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