The Great Depression: The Herbert Hoover Years 1929-1933

Big Idea Herbert Hoover’s conservative response to the Great Depression was criticized by many Americans and ushered in the New Deal

Herbert Hoover Elected in 1928 Promised to end poverty Remained optimistic about the economy Pointed to boom and bust cycle

Hoover’s Philosophy Government should play limited role in helping people No direct relief for needy Rugged Individualism

Hoover’s Philosophy Government served to help groups of people cooperate Examples Businesses Unions Farmers Banks This cooperation was VOLUNTARY!!!!!!!!!!

The Boulder Dam: A Public Works Program Cost 700 million dollars World’s tallest dam at the time Provided water and energy to cities such as LA and later on Las Vegas Created jobs

1930 Midterm Elections Democrats captured many seats Due to unpopularity of Hoover Hoovervilles Hoover Blankets Hoover Flags

Cooperatives Federal Farm Board Wanted to raise prices Farmers attempted to keep some crops off the market Wanted to raise prices Participation: Voluntary National Credit Corporation Large banks would loan money to smaller ones Participation: Voluntary

Direct Intervention Federal Home Loan Bank Act Lowered mortgage rates for homeowners Reconstruction Finance Corporation 2 billion dollars given out to businesses Promoted job growth and higher wages

Criticisms of Reconstruction Finance Corp. Too little too late RFC was a form of direct relief for corporations. Why not people in need? Ask yourself if this was a violation of this philosophy?

The Bonus Army WWI vets and their families came to Washington DC Demanded their bonus NOW!!! $500

The Gassing of the Bonus Army Hoover ordered 1,000 soldiers to disperse the crowd Tear gas used 11 month old baby died Hundreds injured Sealed Hoover’s Fate

Election of 1932 Republican Democrat

1932 Election Results