Presentation on theme: "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."— Presentation transcript:
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. Ch. 22.3: Hoover Struggles with the Depression
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.
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
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
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
Construction of a Dam by William Gropper. (Smithsonian American Art Museum,Washington,D.C. Art Resource, NY) 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)
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.
EVALUATION OF HOOVER HOOVER’S RESPONSE RESULT No Direct Relief Reconstruction Finance Corporation Home Loan Bank Act Boulder Dam Gassing of Bonus Army
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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