Hoovers actions

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  • Created by: Jasmin
  • Created on: 31-05-13 19:31
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  • Hoovers actions did not help the economy
    • Reduction in taxation so that people had more money to spend
    • Expansion of 'public works'
    • Home Loans Act to help mortgage payments
    • Conferences with industrialists in an effort to maintain jobs and wages
    • A 1 year suspension on war debts and reparations by European gov to USA
      • Hope would enable them to buy more American goods
    • Reconstruction Finance Corporation provided loans to help firms
    • "too little, too late"
    • 'rugged individualism'
      • Believed if right conditions could be created, people would be able to work themselves out of poverty without direct assistance from gov
        • Therefore refused to offer any financial relief to individuals
        • Very unpopular
    • High tariffs on foreign goods led to retaliation - other countries raised their tariffs to protect own industries


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