Presidential Approach to The Problems of the Great Depression

1. Presidential Approach to The Problems of the Great Depression • Herbert Hoover • Hands off/ felt the economy had natural upswings and downturns • Volunteerism: contribute to charities/money, clothing food • Asked businesses to hold wages, prices and employment at current levels • Asked the government to cut taxes, lower interest rates and create public work projects • Localism: problems should be solved by state and local governments • Rugged individualism • Reconstruction Finance Corporation: Trickle down economics • Franklin Roosevelt • Governmental intervention in the Economy • Relief, Reform, Recovery • Fireside chats • First 100 days? Restore confidence. • Successes of first 100 days: • FDIC: Federal Deposit Insurance Corp • NRA: National recovery Administration • CCC: Civil Conservation Corp • PWA: Public Works Administration • AAA: Agricultural Adjustment Act • TVA: Tennessee Valley Authority • HOLC: Home Owners Loan Corporation