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Period: to
Depression and WW2
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Black Tuesday of 1929
Stock prices began to decline in September and early October 1929, and on October 18 the fall began. Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded. Investment companies and leading bankers attempted to stabilize the market by buying up great blocks of stock, a rally on Friday. -
Dust bowl
When drought struck from 1934 to 1937, the soil lacked the stronger root system of grass as an anchor, so the winds easily picked up the loose topsoil and swirled it into dense dust clouds, called “black blizzards.” -
Franklin Roosevelt elected to first presidential term
President Rooseveilt elected president in this time of "Great Depression" -
Roosevelts firt 100 days
Once in office Roosevelt set to work immediately. His "New Deal," it turned out, involved regulation and reform of the banking system, massive government spending to restart the economy. -
Roosevelt’s Bank Holiday
The day after his election he created a holiday that closed all banks in the country to prevent a collapse of the banking system. With the banks closed, Roosevelt took measures to restore the people's confidence. -
The TVA act
President Roosevelt signed the Tennessee Valley Authority Act on May 18, 1933, creating the TVA as a Federal corporation. This new agency was asked to tackle important problems facing the valley, such as flooding, providing electricity to homes and businesses, and replanting forests. -
Works Progress Administration created
The WPA was established under the Emergency Relief Appropriation Act, as a means of creating government jobs for some of the nation’s many unemployed.