Decline of Republicanism Flashcards
What were 2 ways in which Hoover tried to deal with the Wall Street Crash?
1) Established the ‘Emergency Committee for Employment’ to persuade businesses to create jobs on a voluntary basis
2) Established the ‘National Credit Corporation’, led by wealthy businessmen, with a budget of $500 Million but only lent $10 Million by the end of 1931
Why did Hoover slowly change his approach to a more interventionist one?
He could see that voluntarism was not working and so enacted things like the Reconstruction Finance Corporation which lent $300 Million to states for relief projects
Why did Hoover increasingly become unpopular by the end?
His intervention came too little too late and was even meeting backlash from Old Guard Republicanisms
The Crackdown on the Bonus March in 1932 also caused him to lose further popularity amongst the people
