L.+Herbert+Hoover

Federal Farm Board spent their $500,000,000 budget too quickly leading the plummeting prices, and farm life becoming economically unbearable fro some.
 * **1920s**
 * President Herbert Hoover** Each group should post his/her responses in the cells below.Make sure that both questions are answered fully. Include your first name + last initial at the bottom of your cell. ||
 * **Period 2** || **Period 3** || **Period 5** ||
 * Summary Statement: Even with Herbert Hoover's experience in business and commerce, he could not save the failing economy from its ultimate downfall. || Summary Statement: Herbert Hoover defeated Al Smith in the 1928 Presidential election due to his sincereity and understanding of living circumstances in America, as opposed to Smith living prominently in New York. Hoover was also a man of initiative. || Summary Statement: Herbert Hoover was an educated engineer who ran for president in 1928 and won the election. During his presidency, the economy was at an all time high and then in October of 1929, it crashed. ||
 * Supporting Details/Key Terms:

Nothing could have been done, hoover was economically inteligent, and ran the Department of Commerce fro 8 years, and was a wealthy/successful businessman, and he could still not fix our economy from the inevitable.

After prices tanked, borrowing rose, which is never good.

Then the bubble burst in 1929, October.

Was not even Hoover's fault, the farmers pannicked and over-produced goods. || Supporting Details/Key Terms: Herbert Hoover - won the 1928 Presidential election-ran the Department of Commerce under Coolidge, and Harding-educated mine engineer-wealthy successful business man-brought up as a quaker

1928 Presidential Election- Calvin Coolidge decided not to run, paving the way for Herbert Hoover-Al Smith ran against Hoover-Hoover won

Al Smith - opponent to Hoover in the 1928 Presidential Election-lived in New York-assumed to not be sympathetic or not know the understanding for those living in harder circumstances-wanted to end prohibition

Farming - economy seemed strong when Hoover took office-sponsored the Agricultural Marketing Act to establish cooperatives-created Federal Farm Board with a budget to buy up and stokpile surplases to support farm prices

Stock - profitable new indtustries took over old ones-stock prices rose far above actual worth of the companies-high prices fueled by borrowing and speculation-Hoover unsuccessfully tried to slow down speculation, but also too late-bubble burst October 1929-first drop of the Great Dpression

Kevin J. James D. || Supporting Details/Key Terms:

Terms: __Calvin Coolidge__ was president until 1929 and he refused to run for president again in 1928. He had so many followers that if he did run, he would have won without competition. Since he didn't run, Hoover was able to take the election. __Al Smith__ was the Democratic candidate in the 1928 election running against Hoover. He was a Catholic from New York City and lost the votes of Southerners (because he wouldn't "understand" their problems) and Protestants (because all presidents before him were Protestant). __The radio__ was used during the campaigns to broadcast addresses to the electorate. __The Federal Farm Board__ was Hoover's idea to have a budget set aside to buy and stock crops in order to support crop prices.

Details:
 * When Hoover took office, the economy was very strong.
 * The farmers were the only people having trouble during the 1920s because of the fluctuating crop prices.
 * The farmers reached the Federal Farm Board's limit and the prices of crops plunged lower than ever before.
 * Hoover tried to slow speculation through the Federal Reserve Board but failed.
 * In October of 1929, the speculation bubble burst and led the country into the Great Depression.

Heather S. ||