Was Hoover defeated in 1932 because voters were fed up with his interventions?
The bad economy hurt Hoover, but, in my view, his treatment of World War I veterans strongly hurt his reelection chances. The Library of Congress says, ‘The Bonus Army, some 15,000 to 20,000 World War I veterans from across the country, marched on the Capitol in June 1932 to request early payment of cash bonuses due to them in 1945. The Great Depression had destroyed the economy, leaving many veterans jobless. Veteran Army Signal Corps photographer Theodor Horydczak, of Washington, D.C., photographed their camp site on the Mall. Six futile weeks of lobbying Congress raised government fears of riots, and on July 28, cavalry, infantry, tank troops and a mounted machine gun squadron commanded by General Douglas MacArthur and Major Dwight Eisenhower dispersed veterans and their families with bayonets and tear gas. Public opinion denounced President Herbert Hoover for the resulting bloodshed and helped force him from office.’
I barely remember what laissez-faire means. But, it was part of the history. The agreement after war.