1. President Hoover’s Reaction to Great Depression
Too Little, Too Late

2. President Hoover U.S. President from 1929 – 1933 Republican
After the United States entered the war, President Wilson appointed Hoover head of the Food Administration.
Acceptance speech quote: "We in America today are nearer to the final triumph over poverty than ever before in the history of any land."

3. Hoover’s Philosophy
Govt’s role was to encourage and facilitate cooperation between competing groups, not to control it
He believed that Americans should take care of themselves and their families, rather than depend on the gov’t to bail them out
Opposed any form of welfare, thought that charities should pitch in to care for less fortunate

4. Hoover’s Initial Reaction
Caution!
Urged key leaders to work together to provide solutions and to act in ways that wouldn’t make economy worse
Asked employers to NOT lay off workers

5. Nation’s Economic Situation in 1930
The situation continued to worsen
Unemployment continued to rise
More companies went out of business
Soup kitchens, shantytowns, and hoboes became common

6. Hoover takes action…
Directed federal funds into public works projects such as Boulder Dam to jump start the economy and create jobs
Backed several federal programs
Federal Farm Board, National Credit Corporation, the Federal Home Loan Bank Act, Reconstruction Finance Corporation

7. Hoover Dam Originally called Boulder Dam
Provided electricity, flood control, and a regular water supply – also jobs
Not opened until 1936, when Franklin Roosevelt was president.

8. Boulder Dam

9. And the economy’s response?
Economy continued to decline
“Hoovervilles”, “Hoover blankets” (newspapers), “Hoover flags” (empty pockets)
Naming shantytowns after Hoover was a sign of the people’s dislike of Hoover’s approach to the economic situation
Seen as too little, too late