THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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His response to the Bonus Army.
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His successful relationship with the Federal Reserve
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His authorization of the Reconstruction Finance Corp. to provide loans.
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His reliance on rugged individualism and laissez faire policy.
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Detailed explanation-1: -He believed in a limited role for government and worried that excessive federal intervention posed a threat to capitalism and individualism. He felt that assistance should be handled on a local, voluntary basis. Accordingly, Hoover vetoed several bills that would have provided direct relief to struggling Americans.
Detailed explanation-2: -The Reconstruction Finance Corporation endured criticism for bailing out some banks and railroads and not others-particularly larger institutions instead of smaller, community-based ones.
Detailed explanation-3: -What belief led Hoover to ask leading industrialists to maintain current wages in the weeks following Black Tuesday? He believed the crash was not part of a larger down turn.