1. Objective: Students will continue their study of the Great Depression. Drill: Analyze the political cartoon on today’s handout and complete the two activity options.

3. III. Hoover’s response to the Great Depression A. Hawley-Smoot Tariff of 1930 1. Tariff became the highest peace-time barrier in the nation’s history. 2. International financial chaos resulted in U.S. becoming even more isolationist

4. B. Economic recovery 1. Volunteerism a. Urged businesses to avoid lay-offs of workers and wage cuts. b. Secured no-strike pledges from labor leaders. c. Urged all citizens to contribute to charities to ease the suffering. http://mycpf.cpf.gov.sg/NR/rdonly res/6D110F2D-9054-48BB- A2AB- 2EA67432EEAC/0/CPFChange_ Economy.gif

5. 2. Public works a. In 1930 Congress appropriated $750 million for public buildings, river and harbor improvements, & highway construction in an effort to stimulate employment. http://en.wiki pedia.org/wi ki/Image:Ho over_dam_fr om_air_corr ected.jpg

6. 3. Reconstruction Finance Corporation (RFC) a. RFC had appropriation of $500 million and authority to borrow $1.5 billion for loans to railroads, banks, and other financial institutions. b. Prevented the failure of basic firms on which many other elements of the economy depended, but was criticized by some as relief for the rich. http://econo mist.com/im ages/20060 819/D3306F N1.jpg

7. C. Bonus Army 1. 14,000 unemployed veterans marched on Washington in summer of 1932 to lobby Congress for payment of bonus approved in 1932, payable in 1945. http://jimbuie.blogs.com/photos/uncategorize d/bonus_army_13.jpg

8. 2. Hoover called in the Army to remove the bonus army. 3. Significance: Hoover appeared heartless to already angry Americans and contributed to his defeat in the November elections.