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Warren G. Harding Dies
Warren G. Harding dies of a heart attack and Calvin Coolidge, his Vice President, assumes the office as the 30th President. -
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The Great Depression
A stock market crash begins a downward economic spiral that devastates American industry and economic prosperity. -
The Glass–Steagall act
The Glass-Steagall act authorizes Federal Reserve Banks to lend to Federal Reserve System member banks or to any individual member bank, and issues Federal Reserve Bank Notes backed by US government securities when a shortage of “eligible paper” arises. -
Franklin D. Roosevelt Inaugurated
Franklin D. Roosevelt is inaugurated as the 32nd President of the United States. -
Emergency Banking Act
The Emergency Banking Act is passed by the United States Congress, aiming to restore public confidence in the nation’s financial system after a weeklong bank holiday. -
Agricultural Adjustment Act
The Agricultural Adjustment Act becomes part of the New Deal era, designed to boost agricultural management for the supply and demand of agricultural goods. -
Social Security Act
The Social Security Act establishes the Social Security program, providing a national pension fund for retired citizens. -
Rural Electrification Act
The Rural Electrification Act provides federal loans for the installation of electrical distribution systems to serve isolated rural areas of the United States. -
Winston Churchill Becomes Prime Minister
Britain gains a new Prime Minister by the name Winston Churchill. He forms a national government and watches over the British involvement in the war effort against the Axis Powers. -
Attack on Pearl Harbor
While World War II officially began with the invasion of Poland on September 1, 1939, the Japanese launch of a surprise attack on Pearl Harbor brings the United States into the war.