- Self made man

- Seen as optimistic, efficient, and intelligent

- Continued conservative policies of Harding and Coolidge

“Trickle Down”(Supply Side)

Economics

Government supports big business

Theoretically, businesses will see improvement

That increased profitability will “trickle down” through the economy

Life will improve for everyone

Like most people, Hooverbelieved the depression

would be short & eventully fix itself

Don’t worry guys!

I relied on business leaders

to keep wages and production

the same!

Charity is the obligation of local governments and

individuals!

Everyone shares equipment

Reduces costs

Authorized $2 Billion in loans to banks, insurance companies, and railroads

Emergency Relief Act (July 1932)

The RFC could loan money to aid the unemployed in counties close to bankruptcy

Very difficult to qualify

Hoover was blamed for not doing enough

Terms like: Hoovervilles

Hoover Blankets Hoover Flags

Mocked the president

WWI Veterans marched on Washington DC to protest that their enlistment bonuses had gone unpaid

Congress refused to pay their bonuses

Regular army was used against the veterans

Became a public relations disaster for Hoover