1. 11.3 Hoover as President

2. Hoover believed businesses & individuals should be able to fix the Depression without direct gov. aid Many felt Hoover did not grasp/ care about how people were affected

3. Hoover & the Associative State Businesses should form voluntary associations to make economy fairer & more efficient

4. Example of Partnership between private business & federal gov The Hoover Dam

5. video

6. Hoovers & Farmers before the Crash Hoover supported loans for farmers to strengthen farm cooperatives – organization that is owned & controlled by its members, working for a common goal

7. Hoover & The Crash Called businesses & gov together, urged them not to cut wages or lay off workers But most acted in their own self interests

8. Not much support for Hoover’s ideas Hoover created the Reconstruction Finance Corporation – to provide gov. aid to struggling banks, insurance co., others

9. Also created Federal Home Loan Bank – encouraged home building & reduced number of home disclosures

10. Smoot-Hawley Tariff Act 1930 Tariff that raised cost of imported goods, to support American goods Backfired as European nations responded with tariffs of their own on American goods

11. Oops In 1934 Global trade down 2/3 rds from 1929 levels

12. Hoover lost favor with the public

14. The Bonus March

15. 1932 WW1 veterans marched on Washington for a veteran's bonus now that was promised to be paid in 1945 Congress said no, partly concerned with federal budget Army began clearing marcher’s camp, camp in flames, hundreds injured, 2 vets killed

17. 1930 Election Dems took over the House Dems also gained in Senate, though Rep kept majority