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Chapter 14 Section 3 Mr. Lindquist/Mr. Veltri

Chapter 14 The Great Depression Begins Section 3: Hoover Struggles with the Depression
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Herbert Hoover
President when the Depression began, he followed the general belief that the best course of action was to do nothing at all as far as the economy was concerned. By the time he began to get the government actively involved, it was too late.
Stigma
A mark or indication of disgrace-"Stigma of poverty"
Boulder Dam
One of the world's largest construction projects, it was one of the major civil works projects of the Hoover administration
Federal Home Loan Bank Act
1932 act that lowered mortgage rates and allowed farmers to refinance their loans
Reconstruction Finance Corporation
1932 law that approved 2 billion dollars for the emergency financing for banks, insurance companies, railroads and other large companies
Bonus Army
WWI veterans who marched on the Washington D.C. to demand their promised WWI bonuses be paid early to help them to survive the Depression. Hoover refused and eventually called on the army, led by Geneal Douglas MacArthur to remove the veterans