tariffs, beginning 1929 where the policy of high tariff was too big for the the

farmers export market when the loans lowered . Hoover’s answer was to rise
tariffs still further, on agricultural and on manufactured products.President
Hoover has signed the Smoot Hawley tariff by influenced by almost all the
nation’s economists, by the leading bankers and by many other leaders. The
main people that have influenced Hoover to sign the Smoot Hawley tarriff
were the three leading farm organizations, and the American Federation of
Labor.President Hoover called for a higher tariff in an effort to help the farmers
by raising duties on agricultural products. The bill added tariffs on many other
products. The increased duties on Agricultural was not very important since
farm products were generally export commodities, and little was imported.The
tariff rates were the highest in American history. (Hoover 35)
President Hoover had reoriented his campaign against depression in late 1931.
His final goal remained to remake a new economic plan. Therefore the coming
of Hoover’s program of beginning of1932 was : the major measures, new
government corporation to make loans to business. A Reconstruction Finance
Corporation (RFC) to replace the stop gap , largely bankers financed National
Credit Corporation , the creation of a Home loan Bank System to discount
mortgages , and an expansion of the Federal Farm Loan Bank System.After the
entire struggle in the economic system.
President Hoover’s action to combat the depression had failed to reach their
objectives. He was supposed to get the United States out of the great
depression with

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