Hoover Struggles with the Depression

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Presentation transcript:

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

#1 Reassure the Nation and Hoover's philosophy (pages 478 & 479) People should remain optimistic Depressions are natural Government should foster cooperation between competing groups Rugged Individualism or government should not give direct relief

#1 Hoover was cautious (page479) Please do not cut wages & jobs Please do not strike and ask for higher wages Charities should help the poor

Boulder/Hoover dam paid by electric power from 7 states #2 1929 & 1930 (page 480) Boulder/Hoover dam paid by electric power from 7 states More democrats in Senate and House Farmers destroy crops Hoover...

#2 Hoover Takes Action (page 481) Backing Cooperatives Federal Farm Bd. raises crop prices by helping members to buy crops and keep them of the market

#2 Hoover Takes Action (page 481) Direct Intervention Federal Home Loan Bank Act lowers mortgage rates for homeowners and farmers Reconstruction Finance Corp issued $2billion to finance banks, insurance co., RR & large businesses

#3 Bonus Army (pages 482 & 483) WWI veterans wanted their bonus early so they march on Wash. D.C. Patman thought each soldier should get their $500 immediately instead of 1945 Hoover thought Army was communists & criminals but provided housing MacArthur & Eisenhower get rid of Army