Notes+on+Herbert+Clark+who?

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 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 He became a mining engineer, worked in China Became a miner owner The Food Administrator during the Great world War 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 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. How many 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 ordered 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 FDR Popular Votes FDR Electoral Votes H. Hoover Popular Votes H. Hoover Electoral Votes