Hoover

What was Hoover's philosophy of government?

Hoover believed that the federal government could not give direct aid to individuals. He believed in free market capitalism and did not think the constitution gave the federal government the power to set prices.

How did Hoover deal with the economic problem posed by the Bonus Army?

Hoover thought that the Bonus Marchers were "communists and persons with criminal records" rather than veterans. He opposed the legislation, but he respected the marchers' right to peaceful assembly.

What did Hoover do about the economic situation?

Gave jobs to unemployed workers and raised prices of farmers crops gave loans to bank and were failing.

What was the nation's economic situation in 1930?

Continued to worsen; More companies went out of business; Unemployment continued to rise; Soup kitchens, shantytowns, and hobos became common; The misery to ordinary people continued to grow.

How did his efforts affect his own political situation?

Damaged public image; assured victory for fdr in next presidential election

How did the economy respond to his efforts?

Economy keep going down- deteriorated

Explain the main purpose of the Reconstruction Finance Corporation (RFC) and whether it succeeded in achieving that goal.

RFC provided emergency finance to banks and other large business to fuel business expansion- pump new life in nations economy; efforts were little to late

How did voters in 1930 respond to this situation?

The Republicans lost control of the House of Representatives and saw their majority in the Senate dwindle to one vote.

What was Hoover's initial reaction to the stock market crash of 1929?

Urged key leaders to work together to provide solutions and to act in ways that would not make the economic situation worse.