“Sec. 22.3 Notes”

Topic: Hoover Struggles with the Depression

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I. Hoover’s initial response to the Depression

A. Called for cooperationB. Let economy fix itself

1. “Rugged Individualism”2. Bust-boom theory

C. Indirect relief1. Encouraged charity2. Boulder Dam Project

II. Hoover takes action

A. Federal Home Loan Bank ActB. Reconstruction Finance CorporationC. Too little, too late

III. The Bonus Army

A. Veterans protested payments of bonusB. Protestors were gassedC. 1 child died, 1 child blindedD. Hoover’s reputation suffered greatly