- Self made man - Seen as optimistic, efficient, and intelligent - Continued conservative policies of Harding and Coolidge.

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Presentation transcript:

- Self made man - Seen as optimistic, efficient, and intelligent - Continued conservative policies of Harding and Coolidge

“Trickle Down” (Supply Side) Economics Government supports big business Theoretically, businesses will see improvement That increased profitability will “trickle down” through the economy Life will improve for everyone

Like most people, Hoover believed the depression would be short & eventully fix itself Don’t worry guys!

I relied on business leaders to keep wages and production the same!

Charity is the obligation of local governments and individuals!

Everyone shares equipment Reduces costs

Authorized $2 Billion in loans to banks, insurance companies, and railroads

Emergency Relief Act (July 1932) The RFC could loan money to aid the unemployed in counties close to bankruptcy Very difficult to qualify

Hoover was blamed for not doing enough

Terms like: Hoovervilles Hoover Blankets Hoover Flags Mocked the president

WWI Veterans marched on Washington DC to protest that their enlistment bonuses had gone unpaid

Congress refused to pay their bonuses

Regular army was used against the veterans

Became a public relations disaster for Hoover 