Material covering Exam 2

Material covering Exam 2 - Hoover and the Great Depression...

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Hoover and the Great Depression 1. Hoover, the Great Engineer 2. “Rugged Individualism” 3. The Dust Bowl 4. The Election of 1932 5. The New Deal 6. The Second New Deal 1. The Great Engineer, Herbert Hoover a. Won the presidential election of 1928 b. Slogan “A chicken for every pot and a car for every garage” c. Business man, successful engineer, had handled many post war issues, humanitarian. d. Continued the Great Government Big Business cooperation also known as the Big Era. e. Confidence had been restored, many believed business encouraged by the government would spread the wealth around. Americans are becoming more likely to endorse strong government action. f. Hoover is the president to accomplish that. 2. “Rugged Individualism”? a. Hoover increased tariffs to record levels. In 1930 Congress passed the Hawley-Smoot tariff. Raising the tariffs caused Germany and other countries to not be able to pay debts. It lessened the amount of money coming in to the country from other countries. This exacerbated the economic depression.
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b. 1932, Congress passed the Reconstruction Finance Corporation, set up to provide loans for banks, railroads and other businesses that were having trouble. Franklin-Roosevelt administration. Under Hoover it gets a bad reputation. Congress gave the Refinance Corporation 2.5 billion dollars. These measures seemed to hurt the economy more than anything else. c. According to Hoover, the moral strength or rugged individualism of weaker Americans would somehow get them through the tough times. Encouraged farmers to go back to the farms and give it another go. He believed that any relief effort should come from the local level. d. In the summer of 1932, group of WWI veterans, bonus expeditionary force, 20,000 of them marched to congress for their veterans bonuses. Some went home since they didn’t get anything. Others began a Hooverville in WA D.C. They got along with the police. One particular day a nervous police man fired his gun and two vets were killed in the process.
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