Topic: What caused the Great Depression and Hoover’s failed reaction

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Presentation transcript:

Topic: What caused the Great Depression and Hoover’s failed reaction Do Now: “The Depression was caused by the conservative, laissez faire policy of the Republican government. If the government had continued to regulate the corporations, the Depression would not have occurred.” Defend or Refute This Statement

The Election of Herbert Hoover (1928) Coolidge refuses to run again Herbert Hoover (Rep) “Great Organizer” (WW I) Fmr. Sec of Commerce Al Smith (Dem) Catholic Anti-Prohibition Rural Dems unhappy Hoover wins in landslide

Causes of the Depression Farmer Problems (throughout 1920s) Overproduction Consumer Credit/Debt Technological unemployment European economic problems Stock speculation and Margin Buying Black Tuesday: October 29, 1929

Depression!

Impact of Depression

Hoover and the Great Depression Hoover’s “Rugged Individualism” No socialism or “Big gov’t” “trickle down” plan No “handouts” Hoover planned to help businesses and banks Reconstruction Finance Corporation (RFC) Some Reps turn on Hoover 1930: Smoot-Hawley Tariff 1932: Bonus Army Incident Role of Gen. Macarthur Hoover’s reputation destroyed

Conclusion How do you feel about the statement at the beginning of today’s lesson now? Explain if you still agree or disagree…