Hoover Self Notes Hoover Tries to Reassure Hoover

Hoover Self Notes

Hoover Tries to Reassure Hoover and his experts believed the best thing to do in a slump, was nothing n Govt’s role was to facilitate businesses, not control them n ‘rugged individualism’ work for what you receive n Attempted to promote higher wages and less strikes, but econ still shrunk n

Boulder Dam project: brought jobs, water, electricity, flood protection, pride n 1930 political tide turns to Dems in congress n “Hoovervilles” given to shantytowns as ironic honor of President n Refused to support direct relief and his critics grew in numbers daily n

n President Hoover’s philosophy and political beliefs caused him to act cautiously after the stock market crash. He refused direct relief and government intervention in business and instead tried to promote hard work and selfreliance as a fix to the problem. Even after his labor discussions and the creation of jobs through the Boulder Dam, the Republicans still lost the congress to the Democrats in 1930. Critics rang out ever stronger, many of them from their shanty homes in “Hoovervilles. ”

Hoover Takes Action Supported cooperatives after Boulder success n Fed Farm Board one such notion n Election changes Hoover’s mind n Federal Home Loan Bank Act- lower mortgages and allowed refinancing n Reconstruction Finance Corporation (RFC) called for $2 billion bail out n

n The success of the Boulder project inspired Hoover to stick with cooperatives and attempt to aid other business and even farmers and helping raise crop prices. The election also forced Hoover to lean toward more direct intervention like his Fed Home Loan Act to supply people with breaks on mortgages. He also hoped that by bailing out big business, the money would trickle down to the people through the RFC.

Gassing the Bonus Army One last black eye for Herbie n 1924 agreement with WWI vets on pensions to be paid in 1945. n Walter Waters and 15, 000 vets feel differently n See support in the congress through Patman Bill n Hoover disgraces these men and refuses n

However, he does give them food, supplies, and a place to camp out at capitol n Senate votes down bill and marchers are asked to leave n Most depart while 2, 000 stay n Hoover had military led by Eisenhower and Mac. Arthur to disperse the crowd n Tear gas is used and baby dies and child is blinded n Leaves door open for FDR n

n Walter Waters leads his Bonus Army across the country to support the Patman Bill, which would give him and his fellow vets their pensions 13 years ahead of schedule. When the bill is shot down and a few thousand vets will not leave the area Hoover had designated as theirs to protest in, the president called in the military. Hoover suffered one last PR nightmare as tear gas hit the vets and their families, killing an infant child and making FDR’s path to the White House even easier.