Chapter 14 Section 3

1
Chapter 14 Section 3

• Hoover Struggles
• with the Depression

2
Objectives

• 1. Explain Hoovers initial response to the
  Depression
• 2. Summarize the actions Hoover took to help the
  economy
• Describe what happened to the Bonus Army

3
1Reassure the nation and Hoover's
philosophy(pages 478 479)

• People should remain optimistic
• Depressions are natural
• Government should foster cooperation between
  competing groups
• Rugged Individualism or government should not
  give direct relief

4
1Hoover was cautious(page479)

• Please do not cut wages jobs
• Please do not strike and ask for higher wages
• Charities should help the poor

5
21929 1930(page 480)

• Boulder/Hoover dam paid by electric power from 7
  states
• More democrats in Senate and House
• Farmers destroy crops

6
2Hoover Takes Action(page 481)

• Backing Cooperatives
• Federal Farm Bd. raises crop prices by helping
  members to buy crops and keep them of the market

7
2Hoover Takes Action(page 481)

• Direct Intervention
• Federal Home Loan Bank Act lowers mortgage rates
  for homeowners and farmers
• Reconstruction Finance Corp issued 2billion to
  finance banks, insurance co., RR large
  businesses

8
3Bonus Army(pages 482 483)

• WWI veterans wanted their bonus early so they
  march on Wash. D.C.
• Patman thought each soldier should get their 500
  immediately instead of 1945
• Hoover thought Army was communists criminals
  but provided housing
• MacArthur Eisenhower get rid of Army