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

2. Hoover’s Philosophy
“any lack of confidence in the economic future is foolish”
Depression were normal part of business cycle
Government could play a limited role
Its job was to encourage and facilitate cooperation
However, he opposed direct relief to the needy. Why?

3. So what did Hoover actually do?
He asked employers not to cut wages or jobs
He asked labor not to demand higher wages or go on strike
This did not work!!!!!
What did work was the Boulder/ Hoover dam – provided water, electricity, flood control

4. “Hooverisms”
Hoovervilles
Hoover blankets
Hoover flags

5. Hoover Takes Action Federal Farm Board National Credit Corporation
Federal Home Loan Bank Act
Reconstruction Finance Corporation Action- emergency financing for banks, railroads, large businesses
“trickle-down economics”

6. The Bonus Army
WWI Veterans did not want to wait until 1945 to receive their bonus
Hoover thought they were communists and criminals
The Senate voted no but 2,000 marchers refused to leave
July 28, ,000 soldiers under command of General MacArthur and major Dwight Eisenhower gassed the marchers