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Hoover’s Response to the Great Depression. Hoover’s Philosophy. Hoover did not believe that the government should become directly involved in helping this “business crisis” . It was up to the businesses to end this downslide. . Hoover’s Response.

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hoover s philosophy
Hoover’s Philosophy
  • Hoover did not believe that the government should become directly involved in helping this “business crisis”.
  • It was up to the businesses to end this downslide.
hoover s response
Hoover’s Response
  • At first, Hoover opposed government relief programs
  • Hoover called upon private charities, soup kitchens, aid societies and churches to help the needy.
hoover s response1
Hoover’s Response
  • Hoover urged business leaders to keep workers employed and to maintain wages.

Trickle Down Theory:

  • An economic theory when the government helps companies, the companies will then maintain production or increase production, thereby people will maintain their jobs or companies will hire more people and/or raise salaries. The people, in turn, will have more money to spend in the economy.
public works program
Public Works Program
  • This program worked in two ways:

1. it created jobs

2. created projects to

benefit the public

ex: schools

dams

paved roads

reconstruction finance corporation
Reconstruction Finance Corporation
  • This government program loaned money to banks, railroads, and insurance companies with hopes to save thousands of jobs.
the bonus army
20,000 jobless veterans of WWI

Congress promised them a cash bonus to be paid in 1945

1932, jobless veterans camped out in Washington D.C. hoping to get their bonus early

Hoover used force to remove them and denied their early bonus

Damaged Hoover’s image.

The Bonus Army