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Herbert Hoover

Herbert Hoover. "Twenty million people are starving. Whatever their politics, they shall be fed!" 1921. 1874-1964 – b. Iowa U.S. Food Administration "Ten Most Important Living Americans“ 1920, NYT Secretary o f Commerce Floods 27’ Beat D, Al Smith in 1928 election, margin 444-87

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Herbert Hoover

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  1. Herbert Hoover "Twenty million people are starving. Whatever their politics, they shall be fed!" 1921 • 1874-1964 – b. Iowa • U.S. Food Administration • "Ten Most Important Living Americans“ 1920, NYT • Secretary of Commerce • Floods 27’ • Beat D, Al Smith in 1928 election, margin 444-87 • 1929-1933: President

  2. Major Progressive Achievements • Civil service, set aside 3 million acres, increase vet. hospitals, pursued tax evaders

  3. Hoover’s Response to the Crash “Leave it alone” – Andrew Mellon, Treasury Secretary - Hoover rejected Mellon’s philosophy Instead, Volunteerism– “public-private cooperation” • Too much intervention hurt individuality and self-reliance

  4. Hoover’s Programs • 1929: Mexican Repatriation Act • 500,000 (to 1937) • 1930: Hawley-Smoot Tariff • Increased tariffs • 1931: Hoover Moratorium • War debt moratorium - help world issues • 1931: urged banks to form NCC, National Credit Corp • big banks give loans to small banks • Anything missing? Impacts?

  5. Impacts of Hoover’s Programs • Repatriation: No impact • Tariff: Retaliation • Moratorium: France mad, no impact • NCC: No impact

  6. By 1932, the Depression Worsened • By 1932, unemployment 24.9% • Drought persisted Oklahoma & Texas • Defaults on all loans increased • 5,000 banks failed • Hooverville’s formed

  7. Hoover Finally Started Acting • 1932: Federal Home Loan Act • Home loans more available • 1932: Emergency Relief and Construction Act • Funds for public projects • 1932: Reconstruction Finance Corporation (RFC) • Gov. secured loans financial institutions, rr and farmers • 1932: Revenue Act • increased taxes on wealthy

  8. The “Bonus” Army Eisenhower later wrote, "the whole scene was pitiful. The veterans were ragged, ill-fed, and felt themselves badly abused. To suddenly see the whole encampment going up in flames just added to the pity." • Want early payment bonus • 1924 bonuses could not be redeemed until 45’ • June 1932 - Gather in D.C. • 15,000 vets & family • AG Mitchell ordered they should be removed • 2 veterans killed • Hoover ordered the campsite to be cleared

  9. Oct. 1929: Things Change

  10. Reactions • “too much spending” • “moving towards socialism” • “did nothing”

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