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Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
Hoover struggles with the depression
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Hoover struggles with the depression

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  • 1. Hoover Struggles with the Depression
  • 2. Hoover Tries to Reassure the Nation • Tells nation that the economy is on a sound footing. • Believes that the economy would correct itself. • Believed Government should play a limited role in the economy.
  • 3. Rugged Individualism • Americans believe that people should succeed through their own efforts. • People should take care of themselves, not the government
  • 4. Hoover takes Action • Federal Home Loan Bank Act – Lowered mortgage rates and allowed farmers to refinance their loans • Reconstruction Finance Corporation – emergency financing for banks, insurance companies, railroads, and big business.
  • 5. Gassing the Bonus Army • In 1932 10 – 20K veterans of WWI march on Washington to demand that a $500 that was due in 1945 • Bill to move pay the Veterans fails • Hoover gets nervous and send the army in to disband the protesters. • 3 People die and 1000 gassed. • Hurts Hoovers image, right before the 1932 election
  • 6. Hoover Takes Cautious Steps • Urged business, bank, and labor leaders to find solutions to the economic problems. • Asked employers not to lay off workers • Create special organization to help private charities
  • 7. Boulder Dam • Part of a 700 million public works project • Provided electricity • Provided water for California irrigation
  • 8. 1930 Congressional Elections • People angry with Hoover and Republicans • Farmers destroy crops. • Shantytowns called Hoovervilles • Newspapers called Hoover Blankets • Empty Pockets called Hoover Flags

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