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Hoover’s Hoover’s PoliciesPolicies
1928 newspaper campaign for Republicans
“a chicken in every pot”
Hoover as Hoover as PresidentPresident
Lacked political Lacked political experienceexperience
lacked support from his lacked support from his party (R)party (R)(D) took control of House (D) took control of House mid-presidencymid-presidency
Hawley-Smoot Hawley-Smoot TariffTariff
Raised duty on Raised duty on agricultural materialsagricultural materials
Highest protective tariff Highest protective tariff in peacetime!in peacetime!
Hawley-Smoot Tariff Hawley-Smoot Tariff (1930)(1930)
Economists urged Hoover not to Economists urged Hoover not to sign itsign it
Hoover signed it anywayHoover signed it anyway25 nations restricted trade w/ US25 nations restricted trade w/ US
Raised their tariffs as responseRaised their tariffs as response Impact on int’l trade Impact on int’l trade
catastrophiccatastrophic
Hoover & the Hoover & the FarmersFarmers
Income cut by more than Income cut by more than half from 1929 to 1932half from 1929 to 1932
Farm Board tried buying Farm Board tried buying surpluses, but it didn’t surpluses, but it didn’t helphelp
Farmers were encouraged Farmers were encouraged to plant lessto plant less
Boulder DamBoulder Dam
Hoover DamHoover Dam http://nevada-history.org/boulder_ca
nyon_project.html
Too little, too lateToo little, too late
Federal Home Loan Bank ActFederal Home Loan Bank ActSpur new home constructionSpur new home constructionReduce foreclosuresReduce foreclosures
Emergency Relief and Construction Emergency Relief and Construction ActActFunds for public works progsFunds for public works progsReconstruction Finance Corp.Reconstruction Finance Corp.
made loans to RR, insurance companies, made loans to RR, insurance companies, banks, state & local gov’tsbanks, state & local gov’ts
Why not just aid the Why not just aid the people?people?
Hoover felt direct aid to the Hoover felt direct aid to the unemployed would…unemployed would…Weaken their self-respectWeaken their self-respectUndercut the efforts of charityUndercut the efforts of charityDestroy responsibility of the Destroy responsibility of the unfortunateunfortunate
Hoover relied on Hoover relied on volunteerism!!!volunteerism!!!
The Depression The Depression WorsensWorsens
Employment Employment CutsCuts
Hours were cutHours were cutWages were cutWages were cutMood was gloomyMood was gloomy1932: 30,000 companies 1932: 30,000 companies closedclosed
1931: 800 banks failed1931: 800 banks failed
Major Mood Major Mood ChangeChange
People lost confidencePeople lost confidenceHesitated to try new Hesitated to try new thingsthings
Stock market droppedStock market dropped
Food was scarceFood was scarceFarmers had more Farmers had more than they could sellthan they could sell
Food prices droppedFood prices dropped
Effect on SocietyEffect on SocietyBusiness leaders cut Business leaders cut wages (against wages (against agreements not to)agreements not to)
Hourly wages in US Hourly wages in US Steel Company cut up Steel Company cut up to 60%to 60%
Effect on SocietyEffect on SocietyAvg family income droppedAvg family income dropped1930:1930: 4 million unemployed 4 million unemployed1933: 12 mill unemployed!1933: 12 mill unemployed!Bank runs Bank runs BreadlinesBreadlines & soup kitchens & soup kitchens in citiesin cities
Effect on SocietyEffect on SocietyLots of business closedLots of business closedFamilies were being evictedFamilies were being evicted
Some lived in “Hoovervilles”Some lived in “Hoovervilles”"Hoover blanket" - old newspaper used as "Hoover blanket" - old newspaper used as blanketingblanketing
"Hoover flag" - an empty pocket turned inside out"Hoover flag" - an empty pocket turned inside out"Hoover leather" - cardboard used to line a shoe"Hoover leather" - cardboard used to line a shoe"Hoover wagon" - an automobile drawn by horse"Hoover wagon" - an automobile drawn by horse
Homelessness was ubiquitous Homelessness was ubiquitous
The Bonus ArmyThe Bonus ArmyMay 1932: 1500 May 1932: 1500 unemployed Army unemployed Army veterans marched on veterans marched on D.C.D.C.
Set up HoovervillesSet up Hoovervilles20,000 protestors total20,000 protestors total
The Bonus ArmyThe Bonus ArmyHoover provided them Hoover provided them w/ suppliesw/ supplies
Congress rejected Congress rejected demandsdemands
Most left, but 2,000 Most left, but 2,000 refused to gorefused to go
The Bonus ArmyThe Bonus ArmyWhen the police failed to When the police failed to stop it, Hoover called in stop it, Hoover called in the armythe army
MacArthur burned down MacArthur burned down the campthe camp
Many Americans blamed Many Americans blamed Hoover for everythingHoover for everything
Fears of Fears of RevolutionRevolutionRiot insurance made availableRiot insurance made available
Socialists & Communists Socialists & Communists preached the Depression as preached the Depression as the the end of capitalismend of capitalismFought w/ each otherFought w/ each other
Majority of US still wanted Majority of US still wanted capitalismcapitalism
The Great DepressionThe Great Depression
https://www.youtube.com/watch?v=IQ_lizW5zSI