Hoover Struggles with the Depression Chapter 14 Section 3 Taken from the textbook The Americans, 2006.

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Presentation transcript:

Hoover Struggles with the Depression Chapter 14 Section 3 Taken from the textbook The Americans, 2006

Hoover’s Philosophy The government should foster cooperation among different groups The government should foster cooperation among different groups Opposed federal welfare Opposed federal welfare

Boulder Dam Dam on the Colorado River paid for by sales of electric power dam will generate Dam on the Colorado River paid for by sales of electric power dam will generate Water rights shared by several states Water rights shared by several states 726 ft high, 1244 ft long 726 ft high, 1244 ft long Enabled growth of CA agriculture Enabled growth of CA agriculture

Farmers Burned crops Burned crops Dumped milk Dumped milk “farm holiday” “farm holiday” Blocked roads Blocked roads

People unhappy with Hoover “Hoovervilles” “Hoovervilles” “Hooverblankets” “Hooverblankets” “Hoover flags” “Hoover flags”

Hoover takes Action Farm Board: intended to raise crop prices Farm Board: intended to raise crop prices National Credit Corporation: loaned money to small banks National Credit Corporation: loaned money to small banks

Federal Home Loan Bank Act Lowered mortgage rates Lowered mortgage rates Allowed farmers to refinance their farm loans to avoid foreclosure Allowed farmers to refinance their farm loans to avoid foreclosure

Reconstruction Finance Corporation (RFC) Authorized $2 billion for emergency financing for banks and other companies Authorized $2 billion for emergency financing for banks and other companies

Bonus Army Made up of 10-20,000 WWI vets and families who supported the Patman Bill Made up of 10-20,000 WWI vets and families who supported the Patman Bill Authorized the government to pay a bonus to WWI vets who hadn’t been compensated Authorized the government to pay a bonus to WWI vets who hadn’t been compensated Most leave D.C. after Congress & Hoover opposed Most leave D.C. after Congress & Hoover opposed July 28 th, soldiers gassed the remaining members of the Bonus Army July 28 th, soldiers gassed the remaining members of the Bonus Army