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Hoover, FDR, and the Great Depression

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1 Hoover, FDR, and the Great Depression

2 Herbert Hoover and Voluntarism

3 Herbert Hoover Grew up in a poor family in a small Iowa town
Trained as a mining engineer Ran U.S. Food Administration during WWI Promoted government-business partnerships Elected President as a Republican in 1928

4 “Voluntarism” (or “Volunteerism”)
People are responsible for helping themselves No direct federal government aid for the poor Communities should work together to help the poor Keep the budget balanced – no deficit spending Prosperity “trickles down” from businesses to everyone else

5 Hoover’s Policies – The Early Years
Asked business not to cut jobs or wages Reduced taxes to boost consumer demand Urged the wealthy to give to charity Asked state government to increase aid for the poor Constant optimism – tried to restore confidence in the economy

6 Problem: this didn’t work
Unemployment and homelessness continued to rise Local governments and charities ran out of money Hoover became increasingly unpopular Hoovervilles = shanty towns Hoover Houses = cardboard boxes Hoover Heaters = campfires

7 Hoover’s Policies – The Later Years
Reconstruction Finance Corporation Created 1932 Provided loans to banks, railroads, big businesses Exemplified trickle-down economics Hoover Dam Massive public works project on the Colorado River Created jobs in a depressed area

8 The Bonus Army After WWI, Congress promised cash payments to veterans in 1945 The Depression left many veterans unemployed Summer 1932: “Bonus Army” of 15,000 veterans marched to Washington, D.C., demanding immediate payment

9 The Bonus Army, continued
Bonus Army camps out in Washington July 1932: Hoover orders evacuation of Bonus Army July 28:U.S. Army forcibly evicts Bonus Army Negative publicity destroyed Hoover’s re-election campaign

10 The 1932 Election Why would Hoover be unpopular?
Economy still hasn’t recovered People think Hoover hasn’t done enough Bonus Army is terrible publicity What do you think people are looking for? More decisive, drastic action Someone who understands them

11 FDR and the New Deal

12 Franklin Delano Roosevelt
Born into a wealthy, well- connected New York family Disabled by polio in his forties Elected president as a Democrat in 1932 Promised a “New Deal” to solve the Depression

13 How does this differ from Hoover’s philosophy?
The country needs, and unless I mistake its temper, the country demands bold, persistent experimentation. It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something. -FDR, 1932 How does this differ from Hoover’s philosophy?

14 Result: The New Deal Date: 1933-1938
Definition: series of ambitious federal programs with the goal of ending the Depression Significance Helped end the Depression and reduce unemployment Radically expanded the government’s role in economic life

15 Principles of the New Deal
Relief – help the needy Recovery – end the Depression Reform – change the economy so that the Depression can’t happen again

16 Fireside Chats Date: Series of radio addresses by FDR on national issues and proposed laws Significance Helped build support for New Deal programs Encouraged Americans to feel closer to the President

17 Fireside Chats How does FDR use the radio to gain the trust of his listeners?

18 New Deal Policies Federal Deposit Insurance Corporation (FDIC)
Tennessee Valley Authority (TVA) Civilian Conservation Corps (CCC) Federal Housing Administration (FHA) National Recovery Administration (NRA) Public Works Administration (PWA) Works Progress Administration (WPA) Social Security Administration (SSA)

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