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Hoover’s Response to the Great Depression

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Hoover s Response to the Great Depression Herbert Hoover s Biography Supported Laissez Faire government Very Intelligent graduated from Stanford, president of ... – PowerPoint PPT presentation

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Title: Hoover’s Response to the Great Depression


1
Hoovers Response to the Great Depression
2
Herbert Hoovers Biography
  • Supported Laissez Faire government
  • Very Intelligent graduated from Stanford,
    president of Cornell University
  • In WW1, organized food drive for starving
    civilians in Belgium
  • After the war organized a Relief for many
    European countries to help stabilize some of the
    economies
  • Great Humanitarian
  • Didnt take a Pay Check

3
First Year of Presidency
  • Inaugurated March, 1929
  • Economy was booming!
  • Stock Market Crash, October 29th, 1929
  • Common Perception ? Economy was fine until Hoover
    came in

4
4 Problems with Hoover
  • 1. Once economy collapses, Hoover gets the blame.
  • 2. Hoover is a millionaire resented by
    suffering people for that
  • 3. The Problems during the Great Depression are
    so bad.
  • 4. His policies during his presidency are
    ineffective

5
Worst Phase 1930-1933
  • Hit farmers hard (huge surplus of food)
  • Farmer Revolts, Bonus Army
  • Bank Failures
  • Unemployment reaches as high as 25-30
  • Foreclosure/Evictions

6
HOOVERs Policies in the GREAT DEPRESSION
7
  • Man on the Spot HOOVER
  • We will now Discuss Hoovers Response to the
    Great Depression
  • Analyze each of his Responses to the Great
    Depression using the sheet that you picked up at
    the Beginning of Class

8
1. Smoot Hawley Tariff
  • Extremely High Tariff
  • Hoover waned to raise tariff higher to protect US
    goods
  • Analyze
  • Outcome
  • 1. Raises the cost of goods
  • 2. The tariff was one of the Causes of the
    Depression!

9
2. Presidential Optimism
  • Hoover gave speeches in which he said this is a
    temporary problem and encouraged people to be
    positive thinkers
  • Analyze
  • Outcome
  • 1. Not really solving anything, could be thought
    of as a liar if things dont work out.
  • 2. Angered People b/c he is a millionaire!
  • - Cardboard box homes ? Hoovervilles
  • - Newspaper blankets ? Hoover Blanket
  • - Pant Pocket turned out ? Hoover Flag

10
3. Taxes
  • Belief was if he Cut taxes ? people will have
    more to spend
  • Analyze
  • Outcome
  • 1. People have no money to begin with to be
    taxed, so less taxes does not matter
  • 2. LESS GOVERNMENT SPENDING!!!
  • 3. People may hoard , not spend it

11
4. Plead with Big Business
  • Hoover begged Employers to rehire, open up
    factories
  • Analyze
  • Outcome
  • - Businesses cant sell ? cant pay employees ?
    cant rehire b/c there is no work to be done

12
5. State and Local Government Should Get Involved
  • State and Local Government should find solutions,
    help people in a rough state
  • Analyze
  • Outcome
  • - Federal Government maintains it is not part of
    its responsibility
  • - No Money to use b/c Hoover cut taxes

13
6. Charity
  • Ask Americans to be Charitable
  • Give to charity, loan to neighbors, invite
    troubled neighbors to dinner
  • Analyze
  • Outcome
  • - This is only a Temporary Solution
  • - Gap between wealthy and poor is so big,
    wealthy could not give enough to help!

14
7. Reconstruction Finance Corporation (R.F.C.)
  • Program established in 1932 that gave Fed
    government loans to banks and business to help
    them re-adjust
  • Analyze
  • Outcome Good idea, but waits to long and does
    not go far enough in Federal Aid

15
Election of 1932
  • Hoover (R) vs. Franklin D. Roosevelt (D)
  • In the end, Hoover had the impossible task of
    defending failed policies and strategies.
  • Instead of campaigning, Hoover spent time begging
    Roosevelt to not do anything too radical.
  • Hoover was afraid FDR would undo the nations
    chance for recovery if he was too radical.

16
Election of 1932
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