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President Hoover conducted a meeting with high ranking business leaders pledging to stop slashing wages. Although, with these leaders breaking their pledges Hoover had to increase funding in public works.
Hoover's plan to help the banks/citizens recover
Hoover had created the RFC to loan money to business's, but it failed quickly. In 1932, Hoover got congress to pass the Emergency Relief and Construction Act. Giving out $1.5 billion to public works and keeping $300 million in loans.
The Bonus Marchers
Army veterans marched to Washington, many staying in abandoned buildings downtown. The army was brought in to clear the buildings. Generals Douglas MacArthur brought in the calvary and takes to scare off all of the veterans.
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