Hoover's Responses to the Wall Street Crash & his Unpopularity
- Created by: nasifahuddin04
- Created on: 22-04-20 17:10
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- Hoover's Responses to the Wall Street Crash & his Unpopularity
- replaced in 1932 election for not being able to solve problems of Depression
- until 1932 he refused to accept that there was a major problem- left him open to bitter criticism
- 'do nothing' president
- he tried to restart economy in 1930 & 1931
- tax cuts, persuade business leaders not to cut wages
- set up Reconstruction Finance Company: helped banks to stop them going bankrupt
- he tried to protect US industries- introduced tariffs, but this strangled international trade & made Depression worse
- Hoover & Republicans= reluctant to change basic policies & believed main cause of Depression was economic problems in Europe- not weaknesses in USA's economy
- said businesses should be left alone to bring back prosperity- government help wasn't needed- argued businesses went into cycles of boom & bust, so prosperity would soon return
- he did little to help people who suffered
- believed social security wasn't government responsibility
- relief should be provided by local government/ charities
- Republicans were afraid that if government helped people, they'd become less independent & less willing to do work
- The Bonus Marchers
- June 1932: veterans who fought in WW1 marched to Washington & asked for their bonuses to be paid early- they camped outside White House
- Hoover refused to meet them & sent General Douglas McArthur to handle it
- McArthur convinced himself with little evidence that they were communist agitators & ignored Hoovers instructions to treat them with respect & attacked them with teargas & burned their camps
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