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HOOVER POLICIES

Hoover Policies

QuestionAnswer
MONEY USA In 1930 and 1931 he tried to restart the economy with tax cuts worth almost $130 million --> Did little to restore confidence and consumer spending
HSA Introduced the Hawley-Smoot Act which put further tarrifs on imported goods to protect American business. US trade to other countries fell about 30%. Henry Ford described it as economic stupidity
Encouragment 1930 Encouraged businesses to not cut wages and not dismiss workers--Not very effective as it was voluntary and not set in law
NCC Set up National Credit Corporation to help failing banks -- however many bankers refused to invest in other failing banks as it was too risky
Nevada Hoover dam on the colorado river --> did create lots of jobs but not enought o tackle employment fully
Help + FFB Tried to help farmers through Federal Farm Board which used 500,000 to buy surplus grain and cotton from farmers --> not enough as food prices contiued to drop as a result of overproduction and Tarrif Wars
RFC Set up the Reconstruction Finance Corporation to provide nearly 2 billion in loans for failing banks and buisnesses
Created by: lola888
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