1. The Great Depression: The Herbert Hoover Years

2. Big Idea
Herbert Hoover’s conservative response to the Great Depression was criticized by many Americans and ushered in the New Deal

3. Herbert Hoover Elected in 1928 Promised to end poverty
Remained optimistic about the economy
Pointed to boom and bust cycle

5. Hoover’s Philosophy
Government should play limited role in helping people
No direct relief for needy
Rugged Individualism

6. Hoover’s Philosophy
Government served to help groups of people cooperate
Examples
Businesses
Unions
Farmers
Banks
This cooperation was VOLUNTARY!!!!!!!!!!

7. The Boulder Dam: A Public Works Program
Cost 700 million dollars
World’s tallest dam at the time
Provided water and energy to cities such as LA and later on Las Vegas
Created jobs

8. 1930 Midterm Elections Democrats captured many seats
Due to unpopularity of Hoover
Hoovervilles
Hoover Blankets
Hoover Flags

10. Cooperatives Federal Farm Board Wanted to raise prices
Farmers attempted to keep some crops off the market
Wanted to raise prices
Participation: Voluntary
National Credit Corporation
Large banks would loan money to smaller ones
Participation: Voluntary

11. Direct Intervention Federal Home Loan Bank Act
Lowered mortgage rates for homeowners
Reconstruction Finance Corporation
2 billion dollars given out to businesses
Promoted job growth and higher wages

12. Criticisms of Reconstruction Finance Corp.
Too little too late
RFC was a form of direct relief for corporations.
Why not people in need?
Ask yourself if this was a violation of this philosophy?

13. The Bonus Army WWI vets and their families came to Washington DC
Demanded their bonus NOW!!!
$500

14. The Gassing of the Bonus Army
Hoover ordered 1,000 soldiers to disperse the crowd Tear gas used 11 month old baby died Hundreds injured Sealed Hoover’s Fate

15. Election of 1932
Republican
Democrat

16. 1932 Election Results