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The Great Depression: The Herbert Hoover Years 1929-1933

The Great Depression: The Herbert Hoover Years 1929-1933

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The Great Depression: The Herbert Hoover Years

1929-1933

Big Idea

• Herbert Hoover’s conservative response to the Great Depression was criticized by many Americans and ushered in the New Deal

Herbert Hoover

• Elected in 1928• Promised to end

poverty• Remained optimistic

about the economy• Pointed to boom and

bust cycle

Hoover’s Philosophy

• Government should play limited role in helping people

• No direct relief for needy

• Rugged Individualism

Hoover’s Philosophy

• Government served to help groups of people cooperate

• Examples• Businesses• Unions• Farmers• Banks

• This cooperation was VOLUNTARY!!!!!!!!!!

The Boulder Dam: A Public Works Program

• Cost 700 million dollars• World’s tallest dam at

the time• Provided water and

energy to cities such as LA and later on Las Vegas

• Created jobs

1930 Midterm Elections

• Democrats captured many seats

• Due to unpopularity of Hoover

• Hoovervilles• Hoover Blankets• Hoover Flags

Cooperatives

• Federal Farm Board• Farmers attempted to keep

some crops off the market

• Wanted to raise prices• Participation: Voluntary

• National Credit Corporation

• Large banks would loan money to smaller ones

• Participation: Voluntary

Direct Intervention

• Federal Home Loan Bank Act

• Lowered mortgage rates for homeowners

• Reconstruction Finance Corporation

• 2 billion dollars given out to businesses

• Promoted job growth and higher wages

Criticisms of Reconstruction Finance Corp.

• Too little too late• RFC was a form of direct

relief for corporations.• Why not people in

need?

• Ask yourself if this was a violation of this philosophy?

The Bonus Army

• WWI vets and their families came to Washington DC

• Demanded their bonus NOW!!!

• $500

The Gassing of the Bonus Army

Hoover ordered 1,000 soldiers to disperse the crowdTear gas used11 month old baby diedHundreds injuredSealed Hoover’s Fate

Election of 1932

Republican Democrat

1932 Election Results