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Hoover's Response to the Great Depression: Recovery Efforts and Public Works Initiatives

President Herbert Hoover's approach during the Great Depression included promises from business leaders to maintain wages and jobs, although these commitments faltered. He favored limited government intervention and opposed direct relief efforts. Key initiatives like the National Credit Corporation and Reconstruction Finance Corporation aimed to stabilize banks and industries but fell short. Public works programs were initiated, but many deemed them insufficient. As economic hardship deepened, protests like the Hunger Marches and the Bonus Army incidents showcased public anger and dissatisfaction with Hoover's policies.

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Hoover's Response to the Great Depression: Recovery Efforts and Public Works Initiatives

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  1. 22-3 Notes Hoover Responds

  2. I. Promoting Recovery

  3. A. Voluntary Efforts & Public Works • Hoover believed that the Fed. Gov’t should be small & uninvolved in people’s lives • Hoover gets business leaders to promise to keep factories open & wages frozen • Industry breaks promise in 1931 • Hoover increases public works projects to employ workers

  4. A. (continued) • Hoover opposes raising taxes & deficit spending: a. Taxes hurt business & consumers b. Deficit Spending would hurt economic recovery

  5. B. Midterm Elections (1930) • Republicans lose majority in the House • Reps barely hang on to majority in Senate

  6. II. Pumping Money into the Economy

  7. A. Trying to Rescue the Banks • Too little money in circulation • Fed Reserve refuses to put more money in circulation • National Credit Corp. (1931) created to help banks loan money & stay open • Reconstruction Finance Corp. (1932) a. Lent $$ to banks & large industry b. They used $$ to pay debts c. Wasn’t enough to help economy recover

  8. B. Direct Help for People • Hoover opposed direct relief by Gov’t • Felt state & local gov’ts should do this • State & local gov’t ran out of $$ • Emergency Relief & Construction Act ’32 a. $1.5 billion for public works projects b. $300 million to states for direct relief c. Too little, too late

  9. III. In an Angry Mood

  10. A. Hunger Marches • Marchers loot in OK City (1931) • American Communist Party takes advantage of situation: a. Membership increases b. Hunger March in Wash. DC (Dec. ’32) c. Police stop them & deny food/doctors d. Congress pressure police to allow march to continue (right to petition gov’t)

  11. B. Farmers Revolt 1. 1930-34: 1 million farms foreclosed on 2. Farmers destroy crops to raise prices

  12. C. The Bonus Army • Pension bonus for WWI vets to be paid in 1945 • 1,000 WWI vets march in Wash DC to get bonus early (1932) • Numbers grow to 15,000 living in Hoovervilles in Washington. Some take over abandoned gov’t buildings • Hoover orders the marchers out of buildings

  13. C. (continued) • Gen. Douglas MacArthur clears out the buildings and the camps: a. Uses infantry, cavalry, tanks, & tear gas b. Many hurt, tear gas kills a baby boy 6. Press coverage makes Hoover look evil and uncaring

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