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How did Herbert Hoover respond to the Depression?

judoca24

wrote...

Posts: 6635

Rep:

6 years ago

How did Herbert Hoover respond to the Depression?

How did Herbert Hoover respond to the Depression?

What will be an ideal response?

Read 64 times

1 Reply

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lowster11

wrote...

#1

6 years ago

Answer: The ideal answer should include:

After the stock market crash, Hoover increased spending for public works.

He established the Reconstruction Finance Corporation to make government credit available to banks and other financial institutions.

Seeking to restore confidence in the economy, Hoover strove for a balanced budget by raising taxes and cutting spending.

He believed that government relief to the needy had demoralizing effects on people.

Even when it was clear that the crisis was beyond the help of charitable groups, Hoover remained strongly opposed to direct relief for the poor.

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