Section 3 Hoover Struggles with the Depression Chapter 14 Section 3 Hoover Struggles with the Depression

Hoover’s Philosophy “any lack of confidence in the economic future is foolish” Depression were normal part of business cycle Government could play a limited role Its job was to encourage and facilitate cooperation However, he opposed direct relief to the needy. Why?

So what did Hoover actually do? He asked employers not to cut wages or jobs He asked labor not to demand higher wages or go on strike This did not work!!!!! What did work was the Boulder/ Hoover dam – provided water, electricity, flood control

“Hooverisms” Hoovervilles Hoover blankets Hoover flags

Hoover Takes Action Federal Farm Board National Credit Corporation Federal Home Loan Bank Act Reconstruction Finance Corporation Action- emergency financing for banks, railroads, large businesses “trickle-down economics”

The Bonus Army WWI Veterans did not want to wait until 1945 to receive their bonus Hoover thought they were communists and criminals The Senate voted no but 2,000 marchers refused to leave July 28, 1932 1,000 soldiers under command of General MacArthur and major Dwight Eisenhower gassed the marchers