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Spindletop Hill
Spindletop was the first major oil gusher of the Texas Oil Boom. -
California Earthquake
An earthquake in San Francisco destroyed about 25,000 buildings and killed about 500 people. it left about 250,000 people without homes and caused $400 million damage
(about $8 billion today) -
Stock Market Crash
The stock market starts to drop and financial panic insues. High unemployment and lots of bank failures. -
Ford Assembly Line
Henry Ford creates the first moving assembly line for mass production of automobiles. Changed car market by making cars easier to buy and more affordable. -
United States joins WWI
The united states declares war on Austria-Hungary and joins WWI -
Prohibition-18th amendment
Alcohol wasn't allowed to be bought, made, or distributed. Many people during this time made their own alcohol and sold it under the radar. -
Womens Rights
Females advanced in the work force as more women began to get hired for office jobs. They also gained several rights and a freer lifestyle. In 1920, the 19th Amendment was passed in the United States, granting suffrage to women. -
Stock Market Crash
On this day the stock market crashed. Every investor tried desperately to sell all of their stocks so they didnt loose everything, but many were too late. Millions of stock traders were broke and/or in debt -
Great Depression
The great depression started after the stock market crashed Oct. 29, 1929. The Great Depression of the 1930s ensued. Billions of dollars were lost as banks and businesses went out of business. -
The New Deal
The new deal provided relief for the unemployed and poor, recovery of the economy to normal levels, and reform of the financial system to prevent a repeat depression. It was also made to make more jobs to improve economy. -
Civil Works Administration
The Civil Works Administration begins creating 4 million jobs for young unemployed men. The jobs involved manual labor and were temporary. The policy stimulated the economy and provided a salary for those out of work. -
Social Security
FDR signs the Social Security Act, including pensions and unemployment insurance. -
Pearl Harbor
On this day the Japanese fighter, bomber, and torpedo planes bombed the Pearl Harbor Navy Base. This event marked the start of WWII. -
Food Rations
The government introduced food rationing during WWII because certain items were in short supply and limiting the amount each citizen could buy made it so everyone could get their fair share. Food rations were mostly applied to meat cheese and fat. -
Strikes
1946 was the worst year in history for strikes. The Unions were unable to strike during the war. Therefore, now that it was over, strikes occured on a large scale. Electrical workers, the steel industry and the meat-packing industry are just a few examples of occupations that held strikes. -
Bank Merger
The Chase National Bank and the Bank of the Manhattan Company are merged into the nation's second largest bank. -
Minimum Wage Increased
Eisenhower increased minimum wage from 75 cents to $1 per hour. -
Bull Market Begins
A Bull Market, meaning a market in which share prices are rising, begins on Wall Street.The inflation rate falls to 6.1% -
Steel Strike
A Nationwide Steel Strike cuts steel output by 90%. The strike lasted 116 days which is the largest steel strike in U.S. history. -
Trade ban with Cuba
Kennedy orders a ban on almost all trade with Cuba starting February 7. He did this because Cuba had an alliance with Russia during the cold war. Because Cuba is so close to the U.S., trading with them was risky and therefrore, JFK issued an Embargo. -
Flash crash of 1962
The NYSE experiences its greatest loss since october 29th 1919. The dow jones industrial average fell by 5.7% -
Tax Reform Act
The Tax Reform Act reduced income taxes for the poor and single persons. Furthermore, it reduced the surcharge to 5% and repealed investment tax credit. It became effective on April 18,1969. -
Oil Embargo Begins
The Organization of Arab Petroleum Exporting Countries proclamed an oil embargo. The price of oil was raised and gas was rationed -
Ford Becomes President
Richard Nixon resigns due to his involvement in the Watergate Scandal. His vice-president, Gerald Ford succeeds him -
Chrysler Comes Close to Bankruptcy
The Chrysler Corporation requests a $1 billion federal loan to prevent bankruptcy. If Chrysler was to fail, it would lower the morale of Americans during the height of the cold war. Chrysler was a sign of America and gave people hope. -
Unemployment Reaches 10.8%
Highest unemployment rate since 1940 -
Stock Market Crash
The stock market crashes, with the Dow Jones plummeting a record 508 points. A crash in the newer computer programming system and economic factors are blamed for the massive crash. -
U.S. Loans to Mexico
Clinton uses emergnecy powers to extend a $20 billion loan to help Mexico avert financial collapse. He justified this decision by claiming if Mexico's economy completely failed, it would in turn negatively effect the U.S. economy. -
Tax Recuction
Congress passes the biggest tax reduction in 16 years -
Poverty Rate Low
The porverty rate fell to its lowest at 12.7%. Also for the first time since 1975, all four U.S. regions experienced a significant increase. -
9/11
Terrorists attack the World Trade Center and Pentagon thus leading into the American war against terror. Thousands were killed that day. -
Suddam Husein Captured
Suddam is captured by U.S. troops, a major victory in the war against terror. -
Recession begins
The current state of the U.S. economy is not doing so well. It all started in December of 2007 when the recession began.
