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30. 2/1/10. “Sec. 22.3 Notes”. Topic: Hoover Struggles with the Depression. I. Hoover’s initial response to the Depression. Called for cooperation Let economy fix itself 1. “Rugged Individualism” 2. Bust-boom theory Indirect relief 1. Encouraged charity
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30 2/1/10 “Sec. 22.3 Notes” Topic: Hoover Struggles with the Depression
I. Hoover’s initial response to the Depression • Called for cooperation • Let economy fix itself 1. “Rugged Individualism” 2. Bust-boom theory • Indirect relief 1. Encouraged charity 2. Boulder Dam Project
II. Hoover takes action • Federal Home Loan Bank Act • Reconstruction Finance Corporation • Too little, too late
III. The Bonus Army • Veterans protested payments of bonus • Protestors were gassed • 1 child died, 1 child blinded • Hoover’s reputation suffered greatly