(The presidency of Herbert Hoover & his response to the Depression, 1929-1933) Government measures Flashcards
What was issued for unemployment relief in 1932?
What is significant about this?
Govt secured $500,000 from Congress to help charities & relief agencies.
It was insufficient as the govt refused to give direct federal aid, even in severe droughts & the Dust Bowl in the South, 1930-31.
What was the Federal Home Loan Act of June 1932?
What is significant about this?
An attempt to save mortgages and stop evictions.
Loans were insufficient.
What was the Reconstruction Finance Corporation (RFC) of 1932?
What is significant about this?
Set up to lend up to $2 billion to banks/financial institutions experiencing financial distress.
Only helped largest institutions; 50% of loans went to 7 largest banks.
What was the Emergency Relief Construction Act of 1932?
What is significant about this?
Set up to authorise RFC to lend up to $1.5 billion to states to finance public works, providing employment.
Limiting as states had to be bankrupt to qualify.
What was the Bonus Army of 1932?
What is significant about this?
WW1 veterans descended on Washington to demand war pensions early, but were moved away forcibly.
Hoover was blamed and the event destroyed what was left of his public reputation.
What are the 5 government measures issued in 1932 to consider?
Unemployment relief Federal Home Loan Act The Reconstruction Finance Corporation Emergency Relief Construction Act The Bonus Army
What is the argument regarding Hoover’s presidency?
He did too much/he did too little.
Where did many WW1 veterans live?
In Hoovervilles
