Hoover Self Notes

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					Hoover Self Notes
Hoover Tries to Reassure
   Hoover and his experts believed the best
    thing to do in a slump, was nothing
   Govt‟s role was to facilitate businesses, not
    control them
   „rugged individualism‟ work for what you
   Attempted to promote higher wages and
    less strikes, but econ still shrunk
   Boulder Dam project: brought jobs, water,
    electricity, flood protection, pride
   1930 political tide turns to Dems in
   “Hoovervilles” given to shantytowns as
    ironic honor of President
   Refused to support direct relief and his
    critics grew in numbers daily
   President Hoover’s philosophy and
    political beliefs caused him to act
    cautiously after the stock market crash.
    He refused direct relief and government
    intervention in business and instead
    tried to promote hard work and self-
    reliance as a fix to the problem. Even
    after his labor discussions and the
    creation of jobs through the Boulder
    Dam, the Republicans still lost the
    congress to the Democrats in 1930.
    Critics rang out ever stronger, many of
    them from their shanty homes in
Hoover Takes Action
   Supported cooperatives after Boulder
   Fed Farm Board one such notion
   Election changes Hoover‟s mind
   Federal Home Loan Bank Act- lower
    mortgages and allowed refinancing
   Reconstruction Finance Corporation (RFC)
    called for $2 billion bail out
   The success of the Boulder project inspired
    Hoover to stick with cooperatives and
    attempt to aid other business and even
    farmers and helping raise crop prices.The
    election also forced Hoover to lean toward
    more direct intervention like his Fed Home
    Loan Act to supply people with breaks on
    mortgages. He also hoped that by bailing
    out big business, the money would trickle
    down to the people through the RFC.
Gassing the Bonus Army
   One last black eye for Herbie
   1924 agreement with WWI vets on
    pensions to be paid in 1945.
   Walter Waters and 15,000 vets feel
   See support in the congress through
    Patman Bill
   Hoover disgraces these men and refuses
   However, he does give them food, supplies,
    and a place to camp out at capitol
   Senate votes down bill and marchers are
    asked to leave
   Most depart while 2,000 stay
   Hoover had military led by Eisenhower and
    MacArthur to disperse the crowd
   Tear gas is used and baby dies and child is
   Leaves door open for FDR
   Walter Waters leads his Bonus Army across
    the country to support the Patman Bill, which
    would give him and his fellow vets their
    pensions 13 years ahead of schedule. When
    the bill is shot down and a few thousand vets
    will not leave the area Hoover had designated
    as theirs to protest in, the president called in
    the military. Hoover suffered one last PR
    nightmare as tear gas hit the vets and their
    families, killing an infant child and making
    FDR‟s path to the White House even easier.

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