1 / 12

33. Politics of Boom and Bust

33. Politics of Boom and Bust. Pt 2: 764-78. President Herbert Hoover. “Hoo but Hoover?” Catholic, urban NY Gov. Al Smith nominted by Dems Radio? Hoover the perfect candidate, poor, orphan, Stanford, mining engineer, small town, philanthropist Hoover in a landslide, even in the South.

griffin-duffy
Télécharger la présentation

33. Politics of Boom and Bust

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 33. Politics of Boom and Bust Pt 2: 764-78

  2. President Herbert Hoover • “Hoo but Hoover?” • Catholic, urban NY Gov. Al Smith nominted by Dems • Radio? • Hoover the perfect candidate, poor, orphan, Stanford, mining engineer, small town, philanthropist • Hoover in a landslide, even in the South

  3. Hoover as President • People should take care of themselves • Hard hit farmers offered Agricultural Marketing Act—coops, and Farm Board—loans and surplus buying • Farmers just producing too much • Hawley-Smoot Tariff raised tariffs even more, foreign govts react against American farms • More and more isolationistic nations

  4. Crash! • Speculative bubble crating inflated “paper” profits • British increase interest rates • One scare encourages more to sell, encouraging more to sell… no buyers, prices tank • “Black Tuesday” in October • Industry failure means layoffs

  5. Unemployment causes unemployment! • People lose their jobs • People have less money to spend • People buy fewer things • People lose their jobs

  6. Why the Depression • Overproduction in farm and factory • Money in hands of only wealthy • Overexpansion of credit • Economic problems in Europe • Drought

  7. End for Hoover • Did try some programs • Received little support from Democratic Congress • Looks even worse when he has to throw out the “Bonus Army” (vets looking for their bonuses taking over Wash DC

  8. Hoover catch all • Hoover blankets, Hoover flag, Hoover meal, Hooverville • Tried Reconstruction Finance Corporation to bring in money for companies—trickle down economics (prime the pump) • “Millionaires dole?” • Did go for some public works projects—Hoover Dam $2.25 billion

  9. Foreign concerns • Japan took Manchuria • No real response from US, not a member of L of Nations, Stimson Doctrine said we wouldn’t recognize new possessions as Japanese • Japanese go on to bomb Shanghai • “Good Neighbor” policy, says less aggression to Latin America

More Related