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Hoover’s Response to the Great Depression

Hoover’s Response to the Great Depression. Hoover’s Philosophy. Hoover did not believe that the government should become directly involved in helping this “business crisis” . It was up to the businesses to end this downslide. . Hoover’s Response.

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Hoover’s Response to the Great Depression

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  1. Hoover’s Response to the Great Depression

  2. Hoover’s Philosophy • Hoover did not believe that the government should become directly involved in helping this “business crisis”. • It was up to the businesses to end this downslide.

  3. Hoover’s Response • At first, Hoover opposed government relief programs • Hoover called upon private charities, soup kitchens, aid societies and churches to help the needy.

  4. Hoover’s Response • Hoover urged business leaders to keep workers employed and to maintain wages. Trickle Down Theory: • An economic theory when the government helps companies, the companies will then maintain production or increase production, thereby people will maintain their jobs or companies will hire more people and/or raise salaries. The people, in turn, will have more money to spend in the economy.

  5. Public Works Program • This program worked in two ways: 1. it created jobs 2. created projects to benefit the public ex: schools dams paved roads

  6. Reconstruction Finance Corporation • This government program loaned money to banks, railroads, and insurance companies with hopes to save thousands of jobs.

  7. 20,000 jobless veterans of WWI Congress promised them a cash bonus to be paid in 1945 1932, jobless veterans camped out in Washington D.C. hoping to get their bonus early Hoover used force to remove them and denied their early bonus Damaged Hoover’s image. The Bonus Army

  8. Bonus March

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