Hoover’s Policies SECTION THREE Goals Explain why President Hoover opposed government sponsored direct relief for needy individuals during the Great Depression. Outline the Hoover administrator’s attempt to solve the economic problems of the depression, and analyze the success of these efforts. Analyze how radicals and veterans responded to President Hoover’s policies. Evaluate the strengths and weaknesses of Hoover’s policies. Hoover’s Philosophy Opposed direct relief. Rugged individualism- belief that success comes through individual effort and private enterprise. Felt private charities and local communities could best provide for needy. Volunteerism 1930 Hoover creates President’s Committee for Unemployment Relief (PCUR) to help local organization. Designed to encourage donations to private relief organizations such as Community Chest, the Red Cross, Salvation Army and the YMCA. Boosting the Economy Hoover holds meeting just weeks after crash to encourage predepression levels of production, employment and wages. Issued cheerful public statements. Public works such as construction of the Hoover Dam. Farm Crisis 1929 Agricultural Marketing Act created Federal Farm Board (FFB) which gave loans to farmers. FFB bought surplus to reduce supply. Home Loan Bank Act of 1932 designed to help reduce foreclosures. The Reconstruction Finance Corporation RFC created in 1932. Could loan up to $2 billion of taxpayer money to stabilize troubled banks, insurance companies, railroad companies, and other institutions. Rumblings of Discontent By 1932 Hoover perhaps most hated man in America. Communist and Socialist Parties vocal in disapproval- encouraged activism. The Bonus Army 10,000 WW1 veterans and their families protested in Washington D.C. in May 1932. Group labeled the Bonus Army. Supporting veterans’ bonus bill granting early payments of pensions – bill did not pass. The Election of 1932 Franklin D. Roosevelt runs against Hoover. Distant cousin of Teddy Roosevelt. Wife Eleanor earnestly believed in social reform. Paralyzed by polio. Attacked Hoover’s record.