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2. • Little vision when it
came to the
Depression.
• Thought it a minor
recession.
• Opposed direct relief
• Called for “rugged
individualism”
3. • What we will analyze today is the
• “Hoover Remedies”
• Three phases
•Phase One: 1929-1930
•Phase Two: 1930-1931
•Phase Three: 1931-1932
4. • Meetings with influential businessmen
•Maintain employment, wages, prices
• Asked Fed. Reserve to make it easier
to borrow $$
• Asked Congress to cut taxes
•People spend more
5. • Consequences:
• Little aid for lower
& middle income
groups
• HH’s popularity
plummeted
• During war, name
synonymous with
patriotism; during
Depression,
distress
• Hoovervilles
6. • Bound to conservative
philosophy keep
government small;
shift blame to Europe.
• As economic
indicators rose in
1931, Austria’s larges
bank failed triggers
panic. Issues a one
year moratorium.
7. • Hawley-Smoot Tariff
(1930): directly tied to
the question of
reparations and war
debts
• Emergency Committee
for Employment (Oct.
1930) under command
of Arthur Woods to
create jobs
Rep. Willis C. Hawley and
Senator Reed Smoot
1929
8. • Hoover’s efforts
include what he called
the “Drip-o-lator”
Method: Trickle down
economics.
• This conservative
notion is much
maligned by liberals
as the following
images indicate.
9.
10. • Hoover’s efforts
include what he called
the “Drip-o-lator”
Method: Trickle down
economics.
• Home Loan Banks
• Reconstruction
Finance Corporation
(RFC)
11. • Too little, too late.
• Rise in Communism
• The Bonus
Expeditionary Force
From Click Magazine,
1930
12. • Too little, too late.
• Rise in Communism
• The Bonus
Expeditionary Force
From Click Magazine,
1930
13. • In the end, the Bonus
March seals Hoover’s
fate.
• He will be defeated by
Franklin Delano
Roosevelt in 1932
marking the next
phase of the Great
Depression.
Editor's Notes
c27-f011.jpg
Corbis IH036336
These two children set up shop in a Hooverville in Washington, D.C.
