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Passed during Hoover's administartion, highest ever duties (up to 40%). Regarded as his biggest failure- he could've vetoed it.
Agriculture Marketing Act
Hoover's attempt to solve overproduction in agriculture. Bought up excess stock. But encouraged futher production and didn't control price
Hoover's method of trying to get big businessmen etc. to maintain output voluntarily, but they didn't listen
Passed by hoover. Increased taxes on firms, just slowed consumer spending
National Credit Corporation
Hoover gives $500 to be spent on failing banks, only $10 million actually spend- banks fail!
Reconstruction Finance Corporation
Gives $2 million to rescue firms and banks. Too little too late!
Emergency Relief and constructions act
$1.5 million given to public works schemes, e.g. Hoover dam