Hoover as President
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Transcript of Hoover as President
Hoover as PresidentChapter 21 section 3
Philosophy
• Rugged Individualism:– Unnecessary government dimmed the spirit of the American people– Believed deeply that it was vital for the nation’s well-being not to
destroy people’s belief in their own responsibility and power.• Associative State:
– Businesses should form voluntary associations that would make the economy more fair and efficient.
– Called together business leaders and experts to discuss ways to achieve national goals.
Hoover Dam
• Harness Colorado River to produce electricity and water supply for 7 states.
Hoover’s Response to Great Depression
• Voluntary Action– Government should seek to AVOID direct involvement in the lives of
people– Pushed for Farmer cooperatives
• Groups of farmers buy equipment together and share– Urged business leaders not to lay-off employees or cut wages
Hoover’s Reluctance
• Direct Action– 1932 Reconstruction Finance Corporation
• $2billion in direct government loans given to struggling banks and insurance companies
– Federal Home Loan Bank• Encouraged homebuilding • Reduced foreclosures
– Smoot Hawley Tariff Act• Raised cost of imported goods• Europe responds with higher taxes on our goods• DISASTER for TRADE
The Nation Responds to Hoover
• “We have passed the Worst”• People question his compassion• Why is he willing to give money to banks and business but not
individuals?
BONUS MARCH page687
1932 Election
• Hoover didn’t bother to campaign• Franklin Delano Roosevelt
– Criticizes Hoover’s Actions– Promises to help the Forgotten Man– Offers public works programs– As Governor of New York
• Creates a ground breaking relief program that helps 1 in 10 NY families.
Landslide Victory
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