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History📖(1930's America) > Hoover And The Depression > Flashcards

Flashcards in Hoover And The Depression Deck (14):
1

Why was Hoover reluctant to get involved in the depression?

He believed in rugged individualism so didn't think the government should interfere in people's lives

2

What phrase did Hoover use to show he believed recovery was just around the corner?

"No one is actually starving"

3

How much money did Hoover give for building projects to create jobs?

$4,000 million
E.g the Hoover dam

4

What was the Hawley-Smoot Tariff?

1930
40% tax on goods imported from aboard to encourage people to buy American goods

5

What was the emergency relief act?

1932
$300 million given to help unemployed people

6

What was the reconstruction of finance corporation?

1932
Gave loans of $1,500 million to businesses

7

Why were Hoovers measures largely unsuccessful?

Not enough money and not quickly enough

8

Where was relief / help found?

Private charities / religious organisations

Supply of food by breadlines / soup kitchens

Temporary homes / shelters

9

What was the emergency relief construction act?

1932
Gave $300 million to help unemployed
Established the reconstruction of finance cooptation which gave loans to help businesses

10

How successful was the reconstruction of finance corporation?

So successful it continued under Roosevelt

11

What was the federal home loan bank act?

Gave banks access to low cost funds to encourage them to offer more mortgages so fewer lost their homes as they could remortgage it

It increased demand for houses increasing jobs

12

What did federal farm board do and why did it fail?

Meant to help farmers stabilise crop prices but it failed to stop farmers over producing so drop prices stayed low

13

What happened to US exports between 1929 and 1932 due to the hawley smoot tariff?

They more than halved

14

What was the national credit corporation and why did it fail?

All major banta had to pay into a fund to help struggling ones but failed because many banks refused to help their rivals