If you don’t like APAH, that’s banana oil!

This class is really keen. Let’s study!

Part 2 – Hoover

Hoover’s conservative philosophy

Opposed direct federal relief Favored rugged individualism Hoped to achieve business

prosperity – trickle down Voluntary cooperation RFC – Reconstruction Finance

Corporation Agricultural Marketing Act – Farm

Board Vetoed Muscle Shoals bill

Hoover (continued)

committed to balanced budget – wanted private charities and state and local governments to provide relief

natural business cycles prosperity “just around the

corner” Andrew Mellon’s tax policies

In Today’s Dollars - hyperlink

What cost $1000 in 1929 would cost $12,608.28 in 2010.

Also, if you were to buy exactly the same products in 2009 and 1929, they would cost you $1000 in 2010, but $80.58 in 1929.

Disparity of Wealth - Depression

Gross Income Levels % of Pop. Earning This

Over $10,000 2.9%

$7,500 – 9.999 3.1%

$5,000 – 7,499 7.4%

$4,000 – 4,999 7.2%

$3,000 – 3,999 12.2%

$2,000 – 2,999 25.7%

$1,000 – 1,999 25.6%

Under $1,000 15.9%

(1)

(2)