Hoover Responds to the Great Depression US History

“We in America today, are nearer to the final triumph over poverty than ever before in the history of any land. The poor house is vanishing from among us”

H. Hoover, August 1928;A one term president

1st Response: Voluntary Action• He was laissez-faire• Opposed gov’t

assistance; rugged individualism was best

• This was like a “storm”• He asked business

leaders not to fire workers & lower wages; unions pledged no strikes

• Wealthy Americans: give $ to charity (local)

Initially Successful!• $150 million for public

works (employment)• Tax cut (purchasing

power)• Fed lowered discount

rate to 2%• Got farm board to

keep prices high• Hoover spoke with

confidence—called this a “Panic”

Long Term: This Didn’t Work• He became more activist

(biggest increase in gov’t power up to that time)

• Smoot-Hawley Tariff• RFC

– Give $ to banks, who will loan it to businesses, who will hire workers, etc.

– $ did NOT trickle down (covered losses)

• Boulder (Hoover) Dam (Public works)

The “Last Straw”: The Bonus Army March on Washington

US Studies

Place photo here

Marching for the 1945 Bonus

Pressuring Congress

Sleeping at the Capitol

The Encampment

The Encampment

"We Done a Good Job in France, Now You Do a Good Job in America"

Police Fighting the Campers

Tanks Roll In

Cleaning Up

Aftermath: Hoover Lost the Faith of the American People