Hoover-attempts to help the Great Depression

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1929- Tax Cut
What was it:
- Give people money to spend
- Buy goods to create more jobs
Effect:
- Didn't work
- Only benefited already employed
1 of 12
1929- National Business Survey
What was it:
- Meeting of 400 executives
- Meant to help production, expansion & wages
Effect:
- Promises made were broken
- Depression worsens
2 of 12
1931- Mortarium on WW1 debts
What was it:
- USA would stop collecting European debts for 18 months
- To give Europe time to recover
Effect:
- Did not help enough
- The International economy collapsed
3 of 12
1932- RFC
What was it:
- Made money available to banks
- They could loan it to industries
Effect:
- Most of the money was given to the big banks
- The money was not given to the struggling banks
4 of 12
1929- Agricultural marketing act
What was it:
- Set up a federal farm board
- Helped buy crops from the farmers
Effect:
- Lots of goods were made
- Did not help falling prices
5 of 12
1930- Hawley Smoot Tariff
What was it:
- Raised import duties on foreign goods by 40%
- Forced Americans to buy their own goods
Effect:
- Higher tariffs made other countries do the same
- Lead to a reduced international trade
6 of 12
1932- Federal Farm Loan
What was it:
- $125 million given to farm banks
- To help pay mortgages
Effect:
-It provided mortgages
- But did not help farmers repay them
7 of 12
1931- National Credit Corporation
What was it:
- $500 million was raised by businesses
- To help failing banks
Effect:
- The investors were very scared to loose money
- So they spent very little of it
8 of 12
1932- Reconstruction Finance corporation
What was it:
-$2 billion was provided by the government
- To help banks and key organisations
Effect:
- Was criticised a lot
- Government money was helping banks not people
9 of 12
1930 to 1931- Presidents Emergency Committee
What was it:
-Organised and encouraged donations for relief
- It was later replaced by the president's organisation for unemployment relief
Effect:
- They did not raise big sums of money
- Did not help the unemployed very much
10 of 12
1930 to 1932- Public works
What was it:
- Government spending on federal projects doubled over three years
- Projects like the Coulee Dam created jobs for the unemployed
Effect:
- Federal spending was vey low on public works
- It was $210 billion in 1930 this dropped too $2 billio
11 of 12
1932- Reconstruction Finance Cooperation
What was it:
- Allowed the federal government to loan $300 million for state relief
Effect:
- States had to meet tough requirements to borrow this
- Only $30 million had been loaned at the end of 1932
12 of 12

Other cards in this set

Card 2

Front

What was it:
- Meeting of 400 executives
- Meant to help production, expansion & wages
Effect:
- Promises made were broken
- Depression worsens

Back

1929- National Business Survey

Card 3

Front

What was it:
- USA would stop collecting European debts for 18 months
- To give Europe time to recover
Effect:
- Did not help enough
- The International economy collapsed

Back

Preview of the back of card 3

Card 4

Front

What was it:
- Made money available to banks
- They could loan it to industries
Effect:
- Most of the money was given to the big banks
- The money was not given to the struggling banks

Back

Preview of the back of card 4

Card 5

Front

What was it:
- Set up a federal farm board
- Helped buy crops from the farmers
Effect:
- Lots of goods were made
- Did not help falling prices

Back

Preview of the back of card 5
View more cards

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