1. Herbert Hoover Born 1874 – Died 1964 Attended Stanford University 1891 (Degree in Mining Engineer) Elected president 1929-1933 Republican Secretary of Commerce under Harding & Coolidge

2. Hoover Cont. He believed that the government and Economy were inefficient Importance of Individuals and volunteers What did he do to help get the country out of the depression? Smoot-Hawley Tariff Increase in Corporate taxes

3. Hoover Cont. Increase in tax bracket He refused to provide direct relief for individuals (welfare) for fear of dependency Reconstruction Finance Corporation Bonus Army

4. Reconstruction Finance Corp. Created in 1932 under the Hoover Administration Loaned out over 2 billion dollars to Businesses, such as

5. Why Didn’t It Work?

6. Reconstruction Finance Corp.

7. Bonus Army What was it? In 1932 Over 17 thousand World War I veterans from all across the United States marched on Washington They wanted to be paid now for their service certificates instead of waiting until 1945 Camped out at the United States Capitol Building At first they were allowed to stay but then Hoover wanted them to move He sent the army out to move them led by General MacArthur and he had the aid of 6 tanks

8. Questions Name three actions that Hoover took to try and stop the Depression Give three reasons why these actions did not work Why was Hoover reluctant to give financial aid to the regular citizens? What was the Bonus Army?