Notes+on+Herbert

President Herbert Hoover XXXI Herbert Clark Hoover (1929 to 1933) Republican A. Events 1. 125,600,000 people in the U.S.  2. 1933- 20th Amendment- moves inauguration date from March 4th to    January 20th following the Presidential Election. Hoover is the Last Lame President. This amendment A.K.A. _ 3. 1931- Japan invades and occupies Manchuria 4. 1933- becomes Chancellor of  B. Early Life 1. Herbert is born August 10th, 1874 in West Branch Iowa. 2. His family were Quakers. His mother Huldah was a Quaker leader, and __  his father was a ____. By the time he was__ __  8 he was an ___. He earned money by picking. 3. At 17 he enrolled in the 1st class at University 4. On February 10th, 1899 he married his wife, Lou Henry. They had ___.__  5. He graduated with a degree in geology. 6. He then was a miner, worked at a geology laboratory, became a mining engineer, worked in China, became a miner owner, food administrator during the Great world War, and Secretary of Commerce under Coolidge. C. Presidency __ 1. He is the 1st President born __ 2. Hoover calls a Special session of Congress to help the farmers. a. The farmers are still hurting badly, because of rising _ and falling farm b. Congress creates the Federal Farm Board 1. It promotes farm cooperatives, where farmers worked together to solve their problems. __ 2. U.S. could buy farm surpluses to build up farm ___ 3. Smoot-Hawley Tariff a. Congress passes it raising tariffs on farm goods b. Also raised tariffs on other goods c. Other nations then _ and then and then World Trade 4. Economy is faltering a. Not everyone is sharing in the booming economy 1. Workers are suffering low wages, and poor 2. Coal miners, textile workers, and others are not sharing in the prosperity. __ b. Economy is being weakened by widespread __ __  1. People are borrowing money for new __, and businesses, and luxury items. 2. People are borrowing money to invest in the stock market. 3. As stock prices rose they borrowed more money to   buy more ___.__ 5. The Great Stock Market Crash of 1929 a. Stocks in 1920 were at 60. b. By September 1929 they had risen to 381.17 c. Everyone was investing in the stock market __ d. People were borrowing money to invest in the __ e. J.F.K.’s Dad was investing in the stock market. He told this __  story ___ _   _  f. October 1929 1. On October 24th a Thursday the stock market traded 12,900,000 shares of stock, and was dropping. 2. The bankers met over the weekend to stabilize the stock market. 3. “Black Monday” October 28th a. Stock prices fell and there were no buyers, so   they _ b. Stock prices still falling. Stock Brokers went to  work millionaires, and were broke by noon. c. They then _ The joke on Wall Street was when you left the Building you looked right, left and _ d. Stocks close at 260.64 4. “Black Tuesday” October 29th a. Stocks continue to _ b. Stock market closes at 230.07 5. Loss for the week is $30,000,000,000 more than was __  spent on the ___ g. Stock Market bottomed out on November 13th at 198.60. h. Would rise till April 17th, 1930 when it reached 294.07 i. Then it dropped from then to July 8th, 1932 when it reached bottom at 41.22. Then it was at its lowest level since the 1800’s j. It would not reach 381 again until 6. The Great Depression a. As the Stock Market dropped the economy started to drop also b. People could not repay their loans to the banks, so the banks had to _ c. People who had money in the banks lost their _ __ d. Without money people could not buy things, and factories ___ e. When workers lost their jobs they stopped buying and more __  factories ____, and more people__ __  lost their __ f. There were no government programs to help people. __ g. When you lost your job, you then lost your __, and you had to live on the h. People built homes out of scraps of wood on the outside of __  town. These towns were called ___ i. People lost faith in the economy, cut back spending and the __  economy ___ j. By 1932 there were __out of work__ k. Depression had spread World wide. 7. Hoovers Actions a. Created the Reconstruction Finance Corporation 1. Government helping Banks & Businesses __ 2. Loaned money to keep banks & factories __ __ b. Depression deepened to 25% of the people being __ c. Many veterans were out of work, and wanted to cash in their bonus certificates. __ d. Bonus Expeditionary Force or the __ a. Formed by Commander Walter Waters b. Bonus Certificates 1. Issued in 1925 and to be made cashable in 1945 2. Amount- Each soldier would receive credit of __  $1.00 a day of service spent in the U.S. up to ___ 3. Amount- Each Soldier would receive credit of   $1.25 a day service spent overseas up to _ __ 4. Veterans wanted to cash them in ___ c. So they formed together with their families, and marched __  on _____.__ __ d. ___ __marched into town.__ __ e. They went to Anacostia Flats, and built a __ __ f. They would then march to the Capitol to demand ___ g. They arrived in the Spring and stayed all Summer. __ e. Hoover then ___ _  _   f. The nation is horrified at the speckle. D. Election of 1932 __ 1. Democrats nominate __ __ 2. F.D.R.’s slogan is “ ___” His song is  3. Republicans nominate _ __ 4. Election Results Popular Vote  Electoral Votes F. Roosevelt (D)  ___ ___ H. Hoover (R) ___