November 2, 1932
It's been six months since the Bonus Army demanded their money promised by the government in the march on the capital. Now in hopes of regaining the approval of the American people, Hoover has put into action many programs of relief. Also known as the acts of "alphabet soup", Hoover has labeled all of his programs with acronyms of their lengthened names. The RFC, or Reconstruction Finance Corporation, is President Hoover's plan to loan a billion dollars in government money to big businesses and banks so they could loan out money to us citizens. I'm hoping they will include farmers like my father in this program because he's a very important man at local grocers. Also, the Emergency Relief Act will provide for the loans of the RFC for states to use as direct relief. The majority of my hope goes to the Trickle-Down Economics solution which is a process that Hoover explained. The plan of this is that the government will loan money to the banks who will loan their money to our businesses, which will hire workers, and the economy will improve by people putting our money back into the banking system. I hope Hoover can improve our economy with these proposed solutions because our country is in dire need of it.
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