SECTION 2 HOOVER AND THE DEPRESSION. THE DEPRESSION HITS HOME Jobs 1932: Unemployment reaches 24% Very few available Surviving Selling personal items.

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Presentation transcript:

SECTION 2 HOOVER AND THE DEPRESSION

THE DEPRESSION HITS HOME Jobs 1932: Unemployment reaches 24% Very few available Surviving Selling personal items on the street Fighting over food in the garbage

HOOVERVILLES Shacks built in the outskirts of cities Made of any available material Newspapers became blankets

THE DEPRESSION HITS HOME Women find jobs easier, paid less Minorities Discriminated further Relief Donations for less fortunate Food Clothing Shelter Red Cross and Salvation Army Helped

HOOVER’S VIEW OF THE DEPRESSION Americans wondered: when would the Gov’t help? President Hoover Gov’t shouldn’t help Private Charities should help Depression would last much longer so gov’t wasn’t needed By March of 1930, he changed his mind

HOOVER’S RESPONSE Reconstruction Finance Corporation(RFC) 1932 Loaned money to businesses and banks Cut their federal taxes Public Works $150 million on projects Build: hospitals, roads, schools

HOOVER’S RESPONSE Agricultural Industry struggling Needed Loans Federal Farm Board created Buy surplus farm crops Raise or keep prices high due to low supply in market Failed and shut down in 1933

HOOVER’S RESPONSE Federal Home Bank Loan Act (1932) Provided money to banks, insurance agencies etc… Supposed to keep mortgages at low rates so less people foreclose Supposed to promote new construction

THE BONUS ARMY 1924: Congress passed a bill to give WWI vets a bonus in 1945 Due to depression, Vets wanted the bonus early May of 1932 they marched on Washington Set up camp in D.C. Police sent to get rid of them and riots occured Hoover sent Gen. MacAuthur with army to drive them out Destroyed the camp

Q UICKWRITE #1 How would you evaluate President Hoover’s Administration? Provide evidence to support your stance.