hoover + great depression Flashcards
(30 cards)
why was Hoover known as a Do nothing president?
believed too much intervention by the government during the depression would destroy American individual strength and that public private corporation was the way to achieve high long-term growth
what did hoover refuse to do?
Fund welfare programs because he believed that such assistance, projects would reduce the incentive (motivation) to work
what was “rugged individualism”?
advocated (supported) this:
idea that every man should fend for himself
he believed that government handouts to the poor and unemployed could make them lazy
what happened in june 1932?
hoovers reputation was particularly damaged from “the bonus march”
what was the purpose in The Bonus March?
thousands of servicemen before in WW1 marched on Washington asking for their war bonuses (kind of pension) to be paid early
what happened in The Bonus March?
Matches camped peacefully outside the White House and sang patriotic songs
Hoover refused to meet them
what was the role of General Douglas MacArthur?
handle the situation of the bonus march
what did MacArthur do in reaction to the bonus march?
convinced himself(with little/no evidence) they were communist agitators ignored hoovers his instructions to treat the marches with respect
what happened to the marchers? (because of General MacArthur)
Troops and police used tear gas and burnt the marches’ camps
what did Hoover do in reaction to MacArthur?
did not admit he failed to control MacArthur
publicly thanked God that the USA still knew how to deal with a mob
what was the Mexican repatriation program for?
in 1929 to reduce municipal aid services burdens and combat White American unemployment
what happened as a result of the Mexican repatriation programme?
resulted in force migration of over 500,000 Mexicans Mexican Americans to Mexico, approximately 60% of those driven out were US citizens
what was the Smoot-Hawley Tarriff?
1930, raised the tariff on thousands of imported items as part of a failed effort to encourage the purchase and grace of American-made goods, raise federal revenue and protect farmers
what happened as a result of The Smoot-Hawley Tarriff in 1930?
disastrous for both the US and world economies
resulted in a general global trade war and a rapid decline in international trade (about 20% if its earlier levels in just a couple years)
why was the phrase “In Hoover we trusted but now we are busted” used?
hoovers failed attempt to increase money made by farmers prompted farmers in Iowa to protest this (Smoot Hawley Tarriff)
what was he his response to The Smoot-Hawley Tarriff 1930?
quite vigourous but it was narrow
why was there a need for the agricultural marketing act?
after the Smoot-Hawley Tariff 1930 his main goal was to restore confidence in the economy and the banking system,
what did the agricultural marketing act 1929 do?
authorise loans to farmers and businessmen to help prevent them from going bankrupt however the loans were expected to be paid back
what did hoover try and do in 1930?
restart the economy by cutting taxes and set up the committee for unemployment relief
when was the emergency relief act?
1932
what did the emergency relief act do?
set aside $300 million to provide unemployment pay
what was the NCC?
The national credit corporation
how did the NCC help Hoover?
was a voluntary association with major private banks that loaned to smaller banks on the verge of collapse
what did the Glass-Steagall Act do?
helped banks by making easier for them to borrow from the Federal reserve
