1. HOOVER’S POLICIES

2. Policies “Any lack of confidence in the economic future… is foolish”
Believed in “rugged individualism”- the belief that people should succeed on their own.
Slow response to the Depression

3. Depression Gets Worse Boulder Dam “Hoover Dam”
Democrats won 1930 Mid term elections and took control of the House of Representatives.
Shantytowns called “Hoovervilles”
Still refused direct relief

4. Direct Help
Federal Home Loan Bank Act- lowered mortgage rates and allowed refinancing of homes.
Reconstruction Finance Corporation- Two billon dollars in emergency financing for banks, railroads, and other large businesses.
Hoover believed the money would trickle down to average citizen through jobs and wages.

5. Links to videos
Depression Begins
Hoover
Bonus Army