Gov't policies towards the great depression OCT 29- 1932

yarelicasas's version from 2017-12-13 06:32

Section 1

Question Answer
Herbert HooverConservative republican, believed in little gov't involvement. "the economy will improve on its own, he was optimistic at 1st... Common misconception; Hoover didn't do anything about the GD."
Boulder Dam Re-named to Hoover Dam
Programs Herbert Hoover put in place to make things better.. improve the economy1st pro- Was for Large scale public works project, RFC Reconstruction Finance Corporation , Raise Tariffs, Balanced Budgets
Public works prjectlarger BIG scale projects that benefit a large number of people and employe lots of people. Many ppl can benefit from
The most famous public works project that Herbert Hoover Initiated was..Boulder Dam in Nevada, took years to build, thousands of workers, Control water, help with flooding, harness power of water to produce electricity.
RFC Reconstruction Finance Corporation
RFC Reconstruction Finance CorporationGov't program that loaned $$ to banks/ Large business. with the hope that bank and business would hire more worker, build new product line etc. NOT AS SUCCESSFUL
Raise TariffsTry to make domestic product more attractive by Increasing Tariffs on foreign goods.
Tariffs areTaxes on foreign goods.
One of the tariff laws passed during Herbert Hoovers timeHawley-Smoot Tariff
Balanced BudgetsHerbert Hoover believed that the Federal gov't budget should be balanced= Gov't should not spend more money than what it takes in. The federal gov't should not be in debt.
Problem with the "balanced budget" B/c he was not willing to spend on programs such as the RFC. so, RFC not as successful as they could have been. His believed limited gov't spending, gov't was not able to provide much help. The problem during the DP made it seem like Herbert Hoover did not care.
Bread linesFree food
Other events: Bonus Army controversy US gov't promised WW1 veterans a bonus pension payment later . People are hurting during GD so they are wanting bonus immediately . So they protest.
What did Herbert Hoover do about the Bonus Army ControversyHe asked Congress to vote against the bill that would have payed these veterans their bonus.
Since congress voted against the bill..the veterans started to camp out in Washington DC in front of the US capital.
Herbert Hoover provided train tickets home-Veterans got MAD!! Things got really bad. US troops were called out to disperse veterans.
Hoovervillesshanty town. AS unemployment continued to increase, people lost their homes. So people would find green land and build their own home with whatever they could find.

Section 2

Question Answer
President election of 1932Franklin D. Roosevelt WINS election + democrats won overwhelming control of congress
Republican nominator Herbert Hoover
Democrat nomineeFranklin D Roosevelt (FDR)
FDR Biography was born into wealth, status, politician. As a youth- polio- was unable to walk, wheelchair bound.
FDR Campaign Common touch, "The New Deal," Deal meant between the gov't and the people. liked to quote the Declaration of Independence.