1 / 8

Hoover Responds

Hoover Responds. Chapter 17, Sec 3. Promoting Recovery. Herbert Hoover tries to repair the nation by increasing public works –government-financed building projects. Hoover asked the nation’s governors & mayors to increase public works spending.

anika
Download Presentation

Hoover Responds

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Hoover Responds Chapter 17, Sec 3

  2. Promoting Recovery • Herbert Hoover tries to repair the nation by increasing public works –government-financed building projects. • Hoover asked the nation’s governors & mayors to increase public works spending. • At the same time, Hoover refused to increase government spending or taxes. He feared that deficit spending would actually delay an economic recovery.

  3. Pumping Money into the Economy • President Hoover tried to persuade the Federal Reserve Board to put more currency into circulation, but the Board refused. • Hoover set up the National Credit Corporation (NCC) which created a pool of money to rescue banks, but it was not enough to help. • Hoover set up the Reconstruction Finance Corporation (RFC) to make loans to banks, railroads, & agricultural institutions. • The economy continued to decline when the RFC was too cautious in its loan amounts.

  4. Pumping Money into the Economy • Hoover opposed the federal government’s participation in relief –money that went directly to very poor families. • He felt relief was the responsibility of state and local governments. • July 1932, Congress passed the Emergency Relief & Construction Act to get money for public works and for loans to the state for direct relief.

  5. In an Angry Mood • By 1931, discontentment over the economy led to violence. • Looting, rallies, and hunger marches began. • During a hunger march at the nation’s capital, police denied protestors food, water, and medical treatment. • Congress intervened, stressing the marchers’ right to petition their gov’t & they were allowed to march on Capital Hill

  6. In an Angry Mood • Between 1930 & 1934, creditors foreclosed of almost a million farms. • Some farmers destroyed their crops, hoping the reduction in supply would cause the prices to go up.

  7. The Bonus Marchers • 1924: Congress enacted a $1,000 bonus to be paid to veterans in 1945. • 1931: Congress introduced legislation that would authorize veterans to receive their bonuses early. • 1932: “Bonus Army” marched to Washington D.C. to lobby Congress to pass the legislation.

  8. The Bonus Marchers • After Hoover refused to meet with the Bonus Army, and the Senate voted the new bonus bill down, some of the marchers left. • Some marchers stayed, moving into deserted buildings in Washington D.C. • When Hoover ordered the buildings cleared, disputes between the remaining people and the police (and later the army) resulted in several deaths.

More Related