What problems need to be What problems need to be addressed?addressed?

Should the government be involved Should the government be involved in fixing these problems? Which in fixing these problems? Which

ones? ones?

Herbert HooverHerbert Hoover

1874-1964 – b. Iowa1874-1964 – b. Iowa U.S. Food Administration U.S. Food Administration

"Ten Most Important Living "Ten Most Important Living Americans“ 1920, Americans“ 1920, NYTNYT

Decided to become a Decided to become a Republican – political career Republican – political career beganbegan

Secr. of Commerce Secr. of Commerce Floods 27’ Floods 27’

Beat D, Al Smith (Catholic) - Beat D, Al Smith (Catholic) - 19281928

1929-1933: President 1929-1933: President

"Twenty million people are starving. Whatever their politics, they shall be fed!" 1921

Early DaysEarly Days ““We in America today are We in America today are

nearer to the final triumph over nearer to the final triumph over poverty than ever before in the poverty than ever before in the history of any land." history of any land."

Self-described “Progressive”Self-described “Progressive” Civil service, set aside 3 million Civil service, set aside 3 million

acres, increase vet. Hospitals, acres, increase vet. Hospitals, pursue tax evaderspursue tax evaders

Hoover’s Response to the CrashHoover’s Response to the Crash

“ “Leave it alone” – Andrew Mellon, Treasury SecretaryLeave it alone” – Andrew Mellon, Treasury Secretary

- - Hoover rejected Mellon’s philosophyHoover rejected Mellon’s philosophy

Instead, Instead, VolunteerismVolunteerism – “public-private – “public-private cooperation”cooperation”

Too much intervention hurt individuality and self-reliance Too much intervention hurt individuality and self-reliance

Hoover’s Programs Hoover’s Programs

1929: Mexican Repatriation Act1929: Mexican Repatriation Act 500,000 (to 1937)500,000 (to 1937)

1930: Hawley-Smoot Tariff 1930: Hawley-Smoot Tariff Increase tariffsIncrease tariffs

1931: Hoover Moratorium1931: Hoover Moratorium War debt moratorium - help world War debt moratorium - help world

issues issues

1931: urged banks to form NCC, 1931: urged banks to form NCC, National Credit CorpNational Credit Corp big banks give loans to small banksbig banks give loans to small banks

Anything missing? Impacts?Anything missing? Impacts?

Impacts of Hoover’s Impacts of Hoover’s ProgramsPrograms

Repatriation: No impact Repatriation: No impact Tariff: Retaliation Tariff: Retaliation Moratorium: France mad, no impactMoratorium: France mad, no impact NCC: No impactNCC: No impact

By 1932, the Depression WorsensBy 1932, the Depression Worsens

By 1932, unemployment 24.9%By 1932, unemployment 24.9% Drought persists Oklahoma & Texas Drought persists Oklahoma & Texas Defaults increasing Defaults increasing

5,000 banks failed5,000 banks failed

Hooverville’s formed Hooverville’s formed

Hoover Finally Starts Acting Hoover Finally Starts Acting

1932: Federal Home Loan Act1932: Federal Home Loan Act Home loans more availableHome loans more available

1932: Emergency Relief and 1932: Emergency Relief and Construction ActConstruction Act

Funds for public projects Funds for public projects

1932: Reconstruction Finance 1932: Reconstruction Finance Corporation (RFC)Corporation (RFC) Gov. secured loans Gov. secured loans

1932: Revenue Act1932: Revenue Act increased taxes on wealthy increased taxes on wealthy

Hoover Dam

The Hoover Dam The Hoover Dam

The “Bonus” ArmyThe “Bonus” Army Want early payment bonusWant early payment bonus

1924 bonuses cannot redeem 1924 bonuses cannot redeem until 45’until 45’

June 1932 - Gather in D.C.June 1932 - Gather in D.C. 43,000 marchers; 17,000 vets 43,000 marchers; 17,000 vets

& family& family AG Mitchell ordered they AG Mitchell ordered they

should be removedshould be removed 2 veterans killed 2 veterans killed

Hoover ordered the campsite Hoover ordered the campsite to be cleared to be cleared

Oct. 1929: Things ChangeOct. 1929: Things Change

Reactions Reactions

““too much spending”too much spending”““moving towards socialism”moving towards socialism”““did nothing”did nothing”