Hoover & the Great Depression

Hoover & the Great Depression

Hoover Fails to Halt the Depression

President Hoover hoped to use information gathered from the American people to ______national economic development and, ultimately, relieve ______.

By 1932, Hoover, who had once been one of the most respected men in the nation had become one of the most ______.

Hoover’s name became identified with the Great Depression.

Hoover remained true to ______ capitalism.

Hoover’s Philosophy

Hoover ______demands for the federal government to provide direct payments to the unemployed and needy.

He believed that this would ______the incentive to work.

Rather than government “______,” Hoover believed that ______private organizations should provide emergency relief.

Hoover believed it was NOT the role of ______to step in for voluntary philanthropy.

Hoover believed that when ______dropped low enough, people would resume ______, production would pick up and ______would increase again.

Most leading ______agreed.

His predictions turned out to be ______.

There was a lack of ______(total) demand which prevented the economy from recovering.

American could not buy more goods, no matter how ______they cost.

Hoover Finally Responds

Hoover…

Cut ______

Increased ______spending

Directed a federal agency to buy surplus farm crops

______, Reconstruction Finance Corporation was established.

Gave emergency loans to banks and businesses –thinking that cheap loans would ______business

Hoover’s policies were seen as ______!

Americans found Hoover’s lack of leadership frustrating.

Families lost their homes because they were unable to pay their ______.

Hoovervilles –______for the homeless and unemployed

Typically found on the outskirts of ______.

Business Failures

1929-1933, about ______American businesses failed

By 1932, at the end of Hoover’s term, unemployment had reached ______people –nearly ______of the nation’s workforce.