Classifier Instance:

Anchor text: Herbert Hoover
Target Entity: Herbert_Hoover
Preceding Context: Mellon became unpopular with the onset of the Great Depression. He advised President
Succeeding Context: to "liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people." Additionally, he advocated weeding out "weak" banks as a harsh but necessary prerequisite to the recovery of the banking system. This "weeding out" was accomplished through refusing to lend cash to banks (taking loans and other investments as collateral), and by refusing to put more cash in circulation. He advocated spending cuts to keep the federal budget balanced, and opposed fiscal stimulus measures. In 1929–31, he spent much of the time overseas, negotiating for repayment of European war debts from World War I.
Paragraph Title: Great Depression
Source Page: Andrew W. Mellon

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