-
Period: to
1920/ Great Depression
-
Stock Market Rises
The stock market begins a spectacular rise, however, bears little resemblance to the rest of the economy, meanwhile, americas middle class shrinks as the lower class grows. -
Herbert Hoover Becomes President
Herbert Hoover becomes president -
Stock Market Crashes
The stock market crashes, marking the end of six years of unparalleled prosperity for most sectors of the American economy. The "crash" begins on October 24 (Black Tuesday) -
Unemplment
More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 stock market crash. -
Banks Fall
100,000 banks have failed since 1929, crippling the economy. -
Roosevelt promises New Deal
While campaigning for president of the United States, Franklin Roosevelt promises Americans "a new deal." The programs he creates after he is elected will be called The New Deal. -
Roosevelt Becomes President
Franklin D. Roosevelt is elected president for the first time. Many Americans did not think that President Hoover did enough to help them and hope that Roosevelt will end the Depression. -
Social Security Act
The Social Security Act is signed. The Act provides money every month for senior citizens. -
Establish Minimum Wage
The agricultural adjustment act established a minimum wage and maximum work week -
WW2
The United States declares war on Japan and joins World War II. Because the war creates so much money and jobs for the economy, the Great Depression ends soon after the U.S. goes to war.
