Hoover tries to help Flashcards
Where was relief and help found
?
Private charities and religious groups
Supply of food by breadlines and soup kitchens
Temporary homes and shelters
Offer of jobs
What was the Emergency Relief and Construction Act ? The
1932
$300 million to help the unemployed
This established the reconstruction finance corporation which provided loans to help businesses.
How successful was the reconstruction finance corporation?
So successful it continued under Roosevelt
What was the federal home loan bank act?
This gave banks access to low cost funds to encourage them to offer more mortgages so fewer people lost their homes as they could remortgage them. It also increased demand housing and increased jobs
What was the federal farm board and why did it fail?
Meant to help farmers stabilise crop prices but it failed to stop farmers over producing so crop prices stayed low
What was the Smoot-Hawley tariff and why did it fail?
1930
A tariff which increased the cost of importing goods into the US (40% tax)to make American goods more popular this failed because other countries raised prices on American goods so they didn’t sell
What happened to US exports to Europe between 1929 and 1932 as a result of the Smoot-Hawley tariff?
They more than halved
What was the national credit corporation and why did it fail?
All major banks pay into a fund to help struggling banks, failed as most banks didn’t want to help their rivals
Why was Hoover to unpopular?
He was a republican so believed in rugged individualism so refused to offer any financial relief to individuals
How much did Hoover pay into projects to created jobs such as the Hoover dam?
$4000 million
What was the reconstruction of finance corporation of 1932?
Have loans of $1500 million to businesses
