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Hoover Struggles with the Depression

Ch. 22 Section 3. Hoover Struggles with the Depression. Hoover’s Philosophy. Government’s chief function was to foster cooperation between groups of society Voluntary cooperation Gov’t role to facilitate cooperation based upon mutual interests Rugged Individualism

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Hoover Struggles with the Depression

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  1. Ch. 22 Section 3 Hoover Struggles with the Depression

  2. Hoover’s Philosophy • Government’s chief function was to foster cooperation between groups of society • Voluntary cooperation • Gov’t role to facilitate cooperation based upon mutual interests • Rugged Individualism • People should succeed through their own efforts • Hoover opposed any form of federal welfare

  3. Reaction to the Crash • Hoover was cautious • Brought together leaders from the business, banking, and labor fields to work together • Voluntary cooperation at work • Unsuccessful and the economy worsened • The public saw Hoover as a heartless leader • Began calling shantytowns “Hoovervilles” • Placed the blame largely on Hoover

  4. Hoover Takes Action • Passed the Federal Home Loan Bank Act • Lowered mortgage rates, helped farms avoid foreclosure • Reconstruction Finance Corporation • $2 billion for emergency financing of banks and businesses • Hoover thought the money would eventually trickle down to the average citizen

  5. The Bonus Army • The Patman Bill: WWI veterans to be paid a gov’t bonus for service • Hoover and Congress veto the bill • Protesters gathered, calling themselves the “Bonus Army” • Hoover calls on soldiers to dismantle the “army” • Gassed 1,000 protestors and spectators.

  6. The Depression Continues • Hard Times are still “Hoover”ing Over Us • The nation no longer trusts Hoover • New leadership is needed

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