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The Great Depression
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Black Tuesday
Stock market crashed This day is better known as "Black Thursday," a record-breaking crash on the New York Stock Exchange begins several weeks of market panics. Many investors lose vast sums of money when the value of stocks plummets. Approximately 12.8 million shares of stock are sold in one day, most at prices far below their values only a few days earlier. Fact: by 1929, only 200 corporations will control over half of all American industry.
Herbert Hoover becomes President. -
The Dust Bowl
Severe drought and Dust Bowl conditions began to ruin farmers’ land.
Intersesting fact about the Dust Bowl: Dust plus wind at high speed produces static electricity, farmers were often shocked and knocked off their feet when opening car doors. Residents had to wear gas mask to keep from inhaling so much wind into their lungs, which caused many deaths during
this time.
Congress authorizes construction of Hoover Dam, known as Boulder Dam during the New Deal, on the Colorado River. Constructio -
Riots
Food riots broke out, workers marched on Detroit, and “foreign workers” were deported
No major legislation is passed addressing the Depression. -
Reconstruction
Congress established the Reconstruction Finance Corporation to lend $2 billion to banks, insurance companies, building and loan associations, and farming organizations. Stocks reached their lowest point
Franklin D. Roosevelt beat Herbert Hoover in a landslide -
Fireside Chat
March 12, 1933
President Roosevelt delivers his first radio "fireside chat," explaining to the American people what has happened in the U.S. banking system. -
New President
Franklin D. Roosevelt took office More than 11,000 of the nation’s 25,000 banks had closed Roosevelt announces a three-day “bank holiday” to prevent a third run on banks and to shore up the banking system Unemployment reached its highest level, at 25%
The Civilian Conservation Corp (CCC) was established to put young men to work in federal and state parks The National Recovery Administration (NRA) was introduced The Federal Deposit Insurance Corporation (FDIC) -
Civil Works Admin.
November 9, 1933
Roosevelt establishes the Civil Works Administration (CWA) to assist unemployed workers through the winter months. -
Emergency Relief Appropriation Act
April 8, 1935
Congress passes the Emergency Relief Appropriation Act creating the Works Progress Administration (WPA) and providing almost $5 billion for work relief for the unemployed for such projects as construction of airports, schools, hospitals, roads, and public buildings. This act marks the beginning of the Second New Deal -
Photodocumentary project of The Great Depression
April 30, 1935
Roosevelt creates the Resettlement Administration (RA) to help poor farmers either improve the use of their lands or move to better lands. The agency's Historical Section begins a major photodocumentary project of the Depression. -
National Labor Relations Act
July 5, 1935
Congress passes the National Labor Relations Act, better known as the Wagner Act, to support the right of workers to organize and bargain collectively with employers over working conditions, benefits, and wages. The act also bans certain unfair business practices. -
The Social Security Act was signed
The Work Projects Administration (WPA) was formed to employ up to 8.5 million people on public works projects across the country The Social Security Act was signed into law, financed through payroll taxes -
Franklin D Rosevelt re-elected
FDR was elected to a second term as president -
Stimulate the Economy
FDR asked Congress for an additional $3.75 billion to stimulate the still floundering economy -
Affordable Fashion
A new look in women’s fashion emerged in the 1930s. In response to the economic crisis, designers created more affordable fashions with longer hemlines, slim waistlines, lower heels, and less makeup. Accessories became more important as they created the impression of a “new” look without having to buy a new dress.f -
FDR elected for Third Term
FDR was elected to a third term as president -
End of The Great Depression
The suffering American economy was given a boost when the fighting countries needed supplies and looked to America to make them.After Pearl Harbor was bombed on December 7, 1941, America entered the war. The U.S. enlisted more than 10 million men and women into the military. Since so many were fighting in the war, it was left for those left at home to work in the factories to make supplies for the war effort.
