1. Hoover's Response To The Great Depression

2. Herbert "They Like Me" Hoover
Self made man
Seen as optimistic,
efficient, and
intelligent
- Continued
conservative
policies of Harding
and Coolidge

3. Herbert "They Like Me" Hoover
“Trickle Down”
(Supply Side)
Economics
Government supports big business
Theoretically, businesses will see improvement
That increased profitability will “trickle down” through the economy
Life will improve for everyone

4. Like most people, Hoover believed the depression
Hoover's Initial Response To The Great Depression
Don’t worry guys!
Like most people, Hoover
believed the depression
would be short

5. I relied on business leaders to keep wages and production the same!
Hoover's Initial Response To The Great Depression
I relied on business leaders to keep wages and production the same!

6. Hoover's Initial Response To The Great Depression
Unemployment reached
23.9% in 1932

7. Charity is the obligation of local governments and individuals!
Hoover's Initial Response To The Great Depression
Hoover did not
believe in relief
for individuals
Charity is the obligation of local governments and individuals!

8. Everyone shares equipment
Agricultural Marketing Act (1929)
Set up farming co-operatives (co-ops)
Everyone shares equipment
Reduces costs

9. Agricultural Marketing Act (1929)
Set up farming co-operatives (co-ops)
Members helped regulate prices
Aid was given to co-ops but not to individuals
Farms were foreclosed throughout the 1930s

10. Authorized $2 Billion in loans to banks,
Reconstruction Finance Corporation (Feb. 1932)
Authorized $2 Billion in loans to banks,
insurance companies, and railroads

11. Emergency Relief Act (July 1932)
Reconstruction Finance Corporation (Feb. 1932)
Emergency Relief Act (July 1932)
The RFC could loan money to aid the unemployed in counties close to bankruptcy
Very difficult to qualify

12. Hoover was blamed for not doing enough
Public Response
Hoover was blamed for not doing enough

13. Public Response
Terms like:
Hoovervilles
Hoover Blankets
Hoover Flags
Mocked the president

14. The Bonus Army (1932)
WWI Veterans marched on Washington DC to protest that their enlistment bonuses had gone unpaid

15. Congress refused to pay their bonuses
The Bonus Army (1932)
Congress refused to pay their bonuses

16. Regular army was used against the veterans
The Bonus Army (1932)
Regular army was used against the veterans

17. Became a public relations disaster for Hoover
The Bonus Army (1932)
Became a public relations disaster for Hoover 