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Conferences
Right after the crash, Hoover wanted people to tighten their belts and work harder. He also asked the business community to voluntarily help sustain the economy by retaining workers and continuing production. He held meeting with Business owners, utility companies, and railroad executives saying the crash was expected after such a good decade. -
The Agriculture Marketing Act
He created this act to help the poor market for farm products. It the Federal Farm Board to promote the sale of agricultural products. It also, provided for the purchase of surplus goods by the federal government to maintain price levels and a $500,000,000 fund to aid the cooperatives. -
Hawley-Smoot Tariff
In this act, Hoover raised the tax on foreign agricultural and industrial products to 20% as a way to try and promote the buying and selling of Americansproducts. The act causes other countries to follow America's lead by raising their tariffs, increasing the international depression and nationalist tensions. -
The Revenue Act of 1932
To pay for all of the new acts Hoover was implementing, balance the federal budget, and maintain the national credit, he made this bill. It doubled the estate tax, brought up corporate tax rates, and increased the top personal tax rate from 25 to 63 percent. -
Protests
There were a couple of different Protests during this time. A popular one was the notorious Bonus Army protest in the spring of 1932. Veterans from World War I lobbied to receive their bonuses immediately, rather than waiting until 1945. The government denied this request, and Hoover called in the military to end the protest. -
The Reconstruction Finance Corporation
This was an agency made to lend money to banks, insurance companies, and other institutions to stimulate the economy. It was given $2 billion. -
The Emergency Relief and Reconstruction Act
A compromise to the Garner-Wagner Bill, this bill created the Reconstruction Finance Corporation which released funds for public works projects. The $300 million relief appropriation financed the first large-scale federal public welfare program in American history, but the public project was a fail. -
The Garner-Wagner Relief Bill
It was a $2,100,000,000 federal unemployment relief bill that would have provided for a federal public works program and direct federal relief for individuals.