1. Ch. 22 Section 3

2.  Government’s chief function was to foster cooperation between groups of society  Voluntary cooperation  Gov’t role to facilitate cooperation based upon mutual interests  Rugged Individualism  People should succeed through their own efforts  Hoover opposed any form of federal welfare

3.  Hoover was cautious  Brought together leaders from the business, banking, and labor fields to work together  Voluntary cooperation at work  Unsuccessful and the economy worsened  The public saw Hoover as a heartless leader  Began calling shantytowns “Hoovervilles”  Placed the blame largely on Hoover

4.  Passed the Federal Home Loan Bank Act  Lowered mortgage rates, helped farms avoid foreclosure  Reconstruction Finance Corporation  $2 billion for emergency financing of banks and businesses  Hoover thought the money would eventually trickle down to the average citizen

5.  The Patman Bill: WWI veterans to be paid a gov’t bonus for service  Hoover and Congress veto the bill  Protesters gathered, calling themselves the “Bonus Army”  Hoover calls on soldiers to dismantle the “army”  Gassed 1,000 protestors and spectators.

6.  Hard Times are still “Hoover”ing Over Us  The nation no longer trusts Hoover  New leadership is needed