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What did Hoover believe about the great depression
Important to stay optimistic
Bolder (Hoover dam)
Water supply provided growth of agriculture
What was hoovers attempt to relieve the depression
Negotiate agreements among private entities.
causes of the great depression
Tariffs and war debt policies that cut down the foreign market for American goods
2 crisis in the farm sector
3 availability of easy credit
4 unequal distribution of income
Federal home loan bank act
Lowered mortgage rates for home owners and allowed farmers to refinance their farm loans and avoid foreclosure
Little towns made up of shack. In cities like Oklahoma
Hawley smoot tariff
Established the highest protective tariff.
Designed to protect American farmers from foreign competition
Effect of hawley smoot tariff
Prevented other countries from buying American goods. Unemployment got worse
Demand for crops high right after war but then after the demand was low and farmers could no longer sell.
One effect of the farming crisis
Price support= gov would buy surplus crops at guaranteed prices and sell them in world market. President vetoed this