The Great Depression: Herbert Hoover Part 3

Hoover as President

*blamed for Great Depression *blamed for Stock Market crash *didn't relate to common man *didn't believe in direct govt relief

Hoover's belief

*individualism - people will succeed by their own efforts *handouts from govt would weaken people's self-respect *handouts would damage nation's moral fiber *he had "hands-off" approach

How did Hoover respond to Bonus Army?

1) Sent in his army 2) burned down their camp 3) 100 people were injured and 1 baby died President lost all support after he ordered this!

Bonus army

1) unemployed WWI vets. 2) marched to D.C. in 1932 to demand $$ owed to them for war bonus they were promised

Reconstruction Finance Corp.(RFC)

1932 Govt agency loaned $$ to banks, railroads and other large businesses to pump $$ back into economy in hopes it would "trickle down"

Herbert Hoover

easily Elected 1928 *headed the American Relief Administration during WW1 *ran against Al Smith (Democrat) who was friends with corrupt Boss Tweed

Rugged individualism

Hoover's belief that people must be help themselves and not depend on govt.

trickle down theory

Hoover's idea that government should help the businesses (at the top) and the economic effects would eventually trickle down to bottom (poor and homeless)

Hawley-Smoot Tariff

Tax on foreign imports to increase demand of US products (made conditions worse when other nations retaliated with their own tariffs)

bread lines

lines of people waiting to receive food provided by charitable organizations or public agencies for the poor and hungry during the Great Depression

hoover blankets

named given to newspapers used to keep homeless warm

Public Works

projects built by government for public use set up by Hoover - hired workers to build schools, dams, highways

Hooverville

shanty-towns during Great Depression where homeless and unemployed people lived