Hoover’s Response Fails

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Presentation transcript:

Hoover’s Response Fails

How did Hoover Respond to the Great Depression? He initially had no response hoping that the “hands off” approach would work  the economy would correct itself Asked businesses and industries to maintain levels of employment and wages Asked state and local governments to provide more jobs and relief  localism Supported “rugged individualism”  the American people should improve their situation through their own effort without gov’t support

Urged Congress to create the Reconstruction Finance Corporation (RFC) to give government loans to business, industry, and banks to keep the economy going  trickle- down economics He did succeed in one project that brought much-needed employment to the Southwest  Hoover Dam

How did Americans Respond to Hoover’s Failures? Some Americans lost faith in America’s capitalism and pushed for socialism WWI vets were promised a $ bonus for their service to be paid in 1945  wanted the $ early due to the depression Thousands of veterans went to D.C. to protest  Bonus Army Hoover sent Gen. Douglas MacArthur to remove the veterans by force This further damaged Hoover’s approval among the American public