2. From The Great Crash to The Great Depression: The Tragic Presidency of Herbert Hoover

3. President Hoover’s Philosophy “Every time we find solutions outside of government, we have not only strengthened character, but we have preserved our sense of real self-government.” “Federal aid would be a disservice to the unemployed.” “The government should not support the people.” “Rugged individualism.”

4. Hoover’s Strategy

5. President Herbert Hoover’s approach (cont.) Federal Farm Board (1929): Emergency Committee for Employment (1930): Hawley-Smoot Tariff (1930): National Credit Corporation (1931): Boulder Dam (1931): Revenue Act of 1932: By 1932, his volunteer approach had totally failed; he faced a rising tide of discontent and protest.

6. Hoover in 1932: too little, too late Reconstruction Finance Corporation: Glass-Steagall Act: Home Loan Bank Act (1932): Hoover became withdrawn and isolated; communicated through press releases urging self-help and local initiative, denounced proposals for an expanded federal role.

11. The 1932 Election: Hoover vs. FDR Hoover renominated by Republicans Democrats pledge to end Prohibition, help farmers with agricultural aid programs, and balance the federal budget by cutting spending by 25% Franklin Delano Roosevelt, Democratic Governor of NY Hyde Park, NY Distant cousin of Teddy Roosevelt; married to Teddy’s niece Eleanor A “New Deal” for the “the forgotten man;” “bold persistent experimentation,” “try something.”

12. The results And the Democrats take both houses of Congress by heavy margins.