Herbert Hoover's Presidency and Policies

Questions and Answers

What was Herbert Hoover's belief regarding government intervention in business?

The government should only regulate taxes.

Businesses should be responsible for their own success. (correct)

Government should fully nationalize industries.

The government should actively control businesses.

Which initiative did Herbert Hoover implement in 1930 to attempt to encourage American consumption?

The Emergency Banking Act

The Reconstruction Finance Corporation

The New Deal

The Hawley-Smoot Tariff (correct)

What was one of the major actions Hoover took to assist with poverty relief?

Building the Colorado Dam (correct)

Establishing labor unions

Increasing tariffs on goods

Nationalizing the banks

What was the outcome of the Hawley-Smoot Tariff regarding American exports?

Exports became more challenging. Signup and view all the answers

When did Hoover finally establish the Reconstruction Finance Corporation?

1932 Signup and view all the answers

What was the total amount spent by Hoover to try to relieve poverty?

$4 billion Signup and view all the answers

Study Notes

Herbert Hoover's Presidency and Economic Policies

Hoover was elected President shortly before the Wall Street Crash of 1929.
He optimistically claimed that the economic boom would continue indefinitely and promised the elimination of poverty.
His beliefs centered around the idea that government should not interfere in business, trusting that the economy would recover independently.
Initial inaction characterized his response to the economic downturn, deferring responsibility to local authorities and cities to assist the unemployed.
In 1930, he passed the Hawley-Smoot Tariff which significantly increased import taxes, aiming to encourage the purchase of American-made goods.
The tariff backfired by making it harder to export American goods, further aggravating the economic crisis.
In an effort to stimulate the economy, Hoover reduced taxes in 1930 to increase disposable income for citizens.
He initiated infrastructure projects, including the construction of the Colorado Dam, as a means to create jobs.
Hoover allocated $4 billion towards poverty relief efforts, but these measures arrived too late to effectively counter the economic decline.
It was not until 1932 that he established the Reconstruction Finance Corporation, which was designed to provide grants and loans to state governments in need.

Description

Explore the economic policies and challenges during Herbert Hoover's presidency, particularly surrounding the Great Depression. This quiz covers his beliefs about government intervention, the Hawley-Smoot Tariff, and his approaches to infrastructure projects. Test your knowledge on how his actions shaped the American economy during a critical period.