Hoover Domestic Policies Flashcards
When was Hoover president?
1929-1933
What was rugged individualism?
Everyone can achieve what they want to achieve through hard work
What demonstrated Hoover’s unpopularity?
Slums nicknamed Hoovervilles
Agricultural marketing act 1930
Enabled the government to lend money to farmers through special marketing groups which stabilised prices and tried to ensure that produce was sold as a profit
Grain stabilisation corporation 1930
Tried to guarantee fair prices by buying wheat so that it could be stored until it went up again. However, prices continued to plunge
Hawley Smoot Tariff Act
Protected US farmers by increasing import duties on foreign goods
How did other counties respond to the Howley Smoot tariff act?
Refused to trade with the USA
How much did the howley smoot tariff act increase tariffs on incoming goods?
By 60%
Why did the Agricultural Marketing Act 1930 not work?
Overproduction = farmers make too much goods for low demand so stabilising prices doesn’t fix it
In 1932, how much did Hoover give to help various agencies provide relief and what was a limitation of this?
$500 million, didn’t give any to the poor due to rugged individualism
Reconstruction Finance Corporation 1932
Lent up to $2 billion to rescue banks, insurance companies, railroads and construction companies to prevent more people losing jobs
Emergency Relief Act 1932
Gave $300 million to state governments to help the unemployed but it was not regulated on how the money was used
Home Loan Bank Act 1932
12 regional banks set up with a fund of $12 million to stimulate house building and home ownership but people can’t afford houses
Bonus marchers
12,000 unemployed veterans of ww1 marched to Washington DC to voice their support for a bill that would allow payment of their bonuses before 1945
How much would the bonus of the bonus marchers have cost and what was the result?
$2.3 million, so they were treated with aggression
How many people were homeless?
2 million (Hoovervilles)
