The Great Depression: The
Herbert Hoover Years
1929-1933
Big Idea
• Herbert Hoover’s conservative response to the
Great Depression was criticized by many
Americans and ushered in the New Deal
Herbert Hoover
• Elected in 1928
• Promised to end
poverty
• Remained optimistic
about the economy
• Pointed to boom and
bust cycle
Hoover’s Philosophy
• Government should
play limited role in
helping people
• No direct relief for
needy
• Rugged Individualism
Hoover’s Philosophy
• Government served to
help groups of people
cooperate
• Examples
• Businesses
• Unions
• Farmers
• Banks
• This cooperation was
VOLUNTARY!!!!!!!!!!
The Boulder Dam: A Public Works
Program
• Cost 700 million dollars
• World’s tallest dam at
the time
• Provided water and
energy to cities such as
LA and later on Las
Vegas
• Created jobs
1930 Midterm Elections
• Democrats captured
many seats
• Due to unpopularity of
Hoover
• Hoovervilles
• Hoover Blankets
• Hoover Flags
Cooperatives
• Federal Farm Board
• Farmers attempted to keep
some crops off the market
• Wanted to raise prices
• Participation: Voluntary
• National Credit
Corporation
• Large banks would loan
money to smaller ones
• Participation: Voluntary
Direct Intervention
• Federal Home Loan
• Reconstruction Finance
Bank Act
Corporation
• Lowered mortgage rates • 2 billion dollars given
for homeowners
out to businesses
• Promoted job growth
and higher wages
Criticisms of Reconstruction Finance
Corp.
• Too little too late
• Ask yourself if this was a
violation of this
• RFC was a form of direct
philosophy?
relief for corporations.
• Why not people in
need?
The Bonus Army
• WWI vets and their
families came to
Washington DC
• Demanded their bonus
NOW!!!
• $500
The Gassing of the Bonus Army
Hoover ordered 1,000
soldiers to disperse the
crowd
Tear gas used
11 month old baby died
Hundreds injured
Sealed Hoover’s Fate
Election of 1932
Republican
Democrat
1932 Election Results