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Due to World War 1, the federal spending increases by 3 times the tax collections.
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600 banks shut down, due to demand of money.
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Due to the war, it was estimated that $35 million of debt was created to the war.
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19th Amendment ratified to allow women to vote
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A company, the Newfoundland Railway adds debt to US Government. Railway Settlement Act created to take control by government to reduce debt.
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Calvin Coolidge becomes the 30th president of the United States.
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Air Commerce Act is passed, providing support to the airline industry.
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The US Congress approves the construction of the Hoover Dam.
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Herbert Hoover becomes the 31st president of the United States.
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Postwar economic tragedy starts for the US Government.
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On Black Tuesday, there were more stocks being sold than stocks being purchased. Due to this crisis, the stock market crashed.
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As a result of the stock market crash, the Great Depression started.
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Due to the stock market crash, great depression, and world war 1, 9,000 banks close due to financial issues.
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Nearly 15 million, quarter of the population of the United States during the time, were unemployed.
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Droughts and storms take place and ruin the enviornment causing more havoc to the Great Depression. A famous event that happened later was the Dust Bowl of 1935.
