1. Herbert Hoover (R 1928-1932) Former mining engineer
Secretary of Commerce (under Harding/Coolidge)
Conservative/Small Government
It was the job of churches and people to help each other out
Elected 1928
“In every pot a chicken and a car in every garage”.
Had been warned about economic problems

2. Beginning of the Depression
Stock Market Crash
October 24, 1929
Black Tuesday
16.4 million shares of stock dumped
$30 million lost in November
Bank Failures
People attempted to withdraw their money from the banks
Banks ran out of cash

3. Run on the Banks

4. Great Depression 1929-1940 Economy plummeted, unemployment skyrocketed
1929: 3%
1932: 23%
Hurt European economies
Hawley-Smoot Tariff Act
400,000 farms foreclosed on

5. Hooverville's

6. Hoover Blankets

7. Bread Lines

8. Soup Kitchens

9. Great Depression

10. Sharecroppers

11. Dust Bowl Enormous dust storms in the Midwest Plowing Soil Erosion
Spread across the country
Plowing
Soil Erosion
Drought
Led many farmers to
head out West

12. Dust Bowl

13. Dust Bowl

14. Dust Bowl

15. Recovery Attempt
Hoover asked business leaders to maintain wages and employment
Boulder Dam
Federal Home Loan Bank Act
Lowered mortgage rates
Reconstruction Finance Corporation
$2 billion emergency funds for banks, railroads, etc.

16. Hoover Dam

17. Hoover Dam Today

18. Bonus Army WWI Veterans Marched on the White House demanding payment
Had been promised payment in 1945
Wanted to be paid now
Marched on the White House demanding payment
Patman Bill
Fails
Hoover calls on the military to ‘escort’ them out
Douglas MacArthur & Dwight Eisenhower

19. Bonus Army

20. Bonus Army

21. Bonus Army