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Ch. 22.3: Hoover Struggles with the Depression

Ch. 22.3: Hoover Struggles with the Depression. OBJECTIVES: 1. Explain Hoover’s initial response to the Depression 2. Describe some of the measures Hoover took to help the economy and ease people’s suffering. REVIEW of INFO and IDs FROM 22.2: Cash payments or food provided by the government.

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Ch. 22.3: Hoover Struggles with the Depression

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  1. Ch. 22.3: Hoover Struggles with the Depression OBJECTIVES: 1. Explain Hoover’s initial response to the Depression 2. Describe some of the measures Hoover took to help the economy and ease people’s suffering.

  2. REVIEW of INFO and IDs FROM 22.2: • Cash payments or food provided by the government. • The great ecological crisis during the Great Depression. • Places where food was offered free to the needy during the Great Depression. • Lines of people waiting to receive free food and aid during the Great Depression. • Percentage of unemployment in the minority community during the Great Depression.

  3. Hoover’s Philosophy • Depressions were normal, healthy part of business cycle • Depression will correct itself • Belief in “rugged Individualism” and voluntary action • Government should do as little as possible No Direct Relief

  4. PROBLEM: Depression does not “fix itself” • Hoover asks businesses to voluntarily hold wages and employment • Economy continues to collapse • Democrats win 1930 Congressional Elections • Farmers rioting & destroying crops • Starvation & Homelessness haunts US

  5. Hoover Acts: Too Little, Too Late • Authorizes public works projects to build dams, bridges, roads • 1932: Reconstruction Finance Corp. (RFC) • Emergency financing to banks, RR companies, railroads and other large businesses. • 1933: Federal Home Loan Bank Act • Lowered mort. Rates for homeowners. • Allowed farmers to refinance their loans CRITICISM: This aid goes to big companies and banks, does not “trickle down” to average citizens

  6. Construction of a Dam by William Gropper Hoover does direct some government aid to major construction projects, such as the Boulder Dam(now called Hoover Dam) Construction of a Dam by William Gropper . (Smithsonian American Art Museum,Washington,D.C. Art Resource, NY)

  7. Gassing of Bonus Army • 1932 – 10,000-20,000 veterans march on Washington D.C. • WHY? • Patman Bill was rejected, army told to go home • 2,000 men refused to move, they were forced to by the U.S. Army • More than 1,000 people were gassed and their possessions were burned IMPACT? Hoover’s popularity falls lower. Helps FDR win in 1932.

  8. EVALUATION OF HOOVER

  9. TERMS • Herbert Hoover • Boulder Dam • Federal Home Loan Bank Act • Reconstruction Finance Corporation • Bonus Army • OBJECTIVES: • 1. Explain Hoover’s initial response to the Depression • 2. Describe some of the measures Hoover took to help the economy and ease people’s suffering.

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