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Unit 2- The Great Depression
 1. Herbert Hoover’s (R) philosophy
 A. Gov’t should play a limited role to fix
economy
 B. Opposes federal aid (welfare); preferred
“rugged individualism”
 C. Constructs the Hoover Dam- Provides:
 1. Electricity
 2. Water supply
 3. Flood control
 4. Jobs
 1. Reaction to Hoover
 A. Unemployment is rising
 B. GOP loses control of H.O.R. and seats in the
Senate
 C. Farmers riot, destroy crops, block roads
 1. Hoover’s Response
 A. Federal Home Loan and Bank Act- tried to
stop foreclosures by lowering mortgage rates
 B. Reconstruction Finance Corp.- $2B for
failing businesses
 Both are ineffective
 C. Bonus Army
 1. WWI vets want their bonus ($500) early and
assemble in DC, Congress says no
 2. Some vets refuse to leave DC
 3. Hoover sends in army, vets are gassed, a baby
is killed, another is blinded, another injured
 No chance at re-election

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Unit2 notes3

  • 1. Unit 2- The Great Depression
  • 2.  1. Herbert Hoover’s (R) philosophy  A. Gov’t should play a limited role to fix economy  B. Opposes federal aid (welfare); preferred “rugged individualism”
  • 3.  C. Constructs the Hoover Dam- Provides:  1. Electricity  2. Water supply  3. Flood control  4. Jobs
  • 4.  1. Reaction to Hoover  A. Unemployment is rising  B. GOP loses control of H.O.R. and seats in the Senate  C. Farmers riot, destroy crops, block roads
  • 5.  1. Hoover’s Response  A. Federal Home Loan and Bank Act- tried to stop foreclosures by lowering mortgage rates  B. Reconstruction Finance Corp.- $2B for failing businesses  Both are ineffective
  • 6.  C. Bonus Army  1. WWI vets want their bonus ($500) early and assemble in DC, Congress says no  2. Some vets refuse to leave DC  3. Hoover sends in army, vets are gassed, a baby is killed, another is blinded, another injured  No chance at re-election