hoover’s policies. rugged individualism “pick yourself up by your bootstraps” the free-market...
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Hoover’s Policies
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Rugged Individualism
• “Pick yourself up by your bootstraps”
• The free-market will cure itself
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1. Hoover Organizes Business
Recommends businesses end wages cuts and layoffs
• Banks
• Railroads
• Labor leaders
• Industry leaders agree to the recommended terms, but due to business instability the promises are broken soon after the conference
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2. Public Works
• Increased funding for public works programs creates jobs
• Hoover refuses “deficit spending” (the government spending more than it receives in tax revenue)
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Federal Reserve, NCC, and RFC
• Hoover encourages the Federal Reserve to increase the amount of money in circulation.-Hopes that increased money flow will increase
corporate loans
• Hoover creates the National Credit Corporation (NCC) and the Reconstruction Finance Corporation (RFC)
-NCC loans money to banks enabling banks to loan money to the public-
-RFC loaned money to big businesses
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Help for Citizens
• Hoover opposed federal (national) aide for struggling citizens• Aide should begin with state and local
governments along with private charitable organizations
• Congress passes the Emergency Relief and Construction Act• Allocates $1.5 billion for public works and
$300 million in emergency loans to states
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Read Hoover Quotes
• Summarize the major themes of his policies regarding the economy and government responsibility
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Election of 1932
Franklin Rooseve
lt
472 Electoral Votes
Herbert Hoover
59 Electoral Votes
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Franklin Roosevelt’s Policies
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First 100 Days
Relief-Recovery-Reform
1st New Deal: 1933-1934
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Relief
• Public Works• Public Works Administration (PWA)• Built hospitals, roads, bridges, dams, schools, reforestation, flood control
• Cut unemployment
• Rural Programs• Resettlement Administration (RA)• Relocated struggling citizens to governmentally planned communities
• Rural Electrification Administration (REA)• Provided utilities to rural areas
• Civilian Conservation Corps. (CCC)• Provided manual labor positions to men 18-25 conserving governmentally
owned land in rural areas
• Tennessee Valley Authority (TVA)• Built dams which produced hydro electric power to the Tennessee Valley
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Recovery
• Governmental economic planning is necessary for total recovery
• National Recovery Administration• Raise wages• Reduce hours• Eliminate child labor• Establish a minimum wage
• Housing • Homeowners loan corporation (HLC)• Federal Housing Administration (FHA)• Standardized loans and increased loan accessibility
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Reform
• Trade Reform
• Reciprocal Tariff Act• Allowed the President to negotiate bilateral
trade policies
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Read FDR Quotes
• Summarize the major themes of his policies regarding the economy and government responsibility
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Textbook Read