Hoovers Response to the Exonomy 1929-1933

Question 1

give 4 examples of problems that Hoover had to solve due to the depression

Answer 1

-over production
-unemployment
-banking systems
-not much money in fed gov

Question 2

give all of Hoovers Acts made to help the economy, their years

Answer 2

1930 Agricultural Marketing Act
1930 Grain Stabilisation Corporation
1930 Hawley Smoot Tariff Act
1932 Reconstruction Finance Corporation
1932 Emergency Relief Act
1932 Home Loan Bank Act

Question 3

what was the AgriculturalMarketing Act and when did it pass and was it a success

Answer 3

1930; gov lends money to farmers to stabilise prices and ensure produce was sold at profit
this was done thru the Grain Stabilisation Corporation which bought then stored wheat until prices rose but they did not rise NOT SUCCESSFUL ONLH SHORT TERM SOLUTION

Question 4

when was the Hawley Smoot Tariff Act and what did it do and was it successful

Answer 4

1930 disadvantaged farmers with. high tariffs but was meant to protect US from foreign competition NOT SUCCESSFUL

Question 5

when was the Reconstruction Finance Corporation set up and what did it do

Answer 5

1932 ; lent $2 billion to rescue banks, insurance companies, railroads etc

Question 6

when was the Emergency Relief Act and what did it do and was it successful

Answer 6

1932; gave $300million to state gov to help unemployed NOT A SUCCESS SOME STATES DIDNT DO IT

Question 7

when was the Home Loan Bank Act and what did it do

Answer 7

1932; stimulated house building and 12 regional banks set up with funds of $12 million

Question 8

give 5 examples of Hoovers shortcomings

Answer 8

-too laissez faire and rugged individualism
-shanty towns set up by unemployed called Hoovervilles
-agricultural policies failed as products were bought at artificially high prices
-opposed congress who suggested relief schemes
-bonus marchers sent troops out to veterans who wanted early bonuses and got bad publicity

Question 9

give two examples of hoovers too little too late relief

Answer 9

1932 Emergency Relief Act FAILED
1932 Home Loan Bank Act

Question 10

give 3 successes of FDR’s campaign in the 1932 election

Answer 10

-charismatic with press
-used radio effectively
-promised diff things to diff people

Question 11

give 3 limitations if Hoovers campaign in 1932

Answer 11

-too busy fighting depression to campaign
-poor relations with press
-expected to lose

Question 12

give 3 limitations of FDR’s campaign

Answer 12

-vague and contradictory
-only stood for unspecific change
-criticised Hoover for extravagant gov spending then spent more