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1)President Herbert Hoover believed that direct relief to the needy was the reponsiblity of local government, not the federal government.
True or False
Drect relief was proposed by Hoover??Seems not!

2) The Reconstruction Finance Corporation pumped large sums of money into nation's economy during the Great Depression.
True or False
My textbook says RFC just lent money to big companies and banks. "PUMP" seems to be a word inappropriate

2007-08-08 21:48:14 · 1 answers · asked by Anonymous in Politics & Government Other - Politics & Government

1 answers

Secretary of the Treasury Andrew Mellon advised President Hoover shock treatment would be the best response: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.... That will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people." Hoover rejected this advice, not believing government should directly aid the people, but insisted instead on "voluntary cooperation" between business and government.

2007-08-08 23:23:02 · answer #1 · answered by FRAGINAL, JTM 7 · 0 0

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