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Period: to
Depression
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Wall Street Crash
The sales increased leading up to the crash along with some high trading periods. The difference in the trading and selling made the market unstable. -
Smoot-Hawley Tariff
Congress passes the Smoot-Hawley Tariff, raising import duties to protect American manufactures from foreign competition. Effects Europes economy in a negative way. -
Magor Bank Collapse
New York's Bank of the United States collapses in the largest bank failure to date in American history. -
The Election of Roosevelt
Democrat Franklin D. Roosevelt defeats Republican President Herbert Hoover in a landslide to win the presidency. -
Unemployment
Unemployment averages 24.9% for the year. This is a very high rate and is one of the highest ever recorded. -
Radio Priest
"Radio Priest" Charles Coughlin's weekly broadcast draws an average of 30-45 million listeners. This si an example of how powerful the mass media could be. Also how people kept their faith even when the times were tough. -
Townsend Proposes Pension Plan
Dr. Francis Townsend sends a letter to the Long Beach Press-Telegram proposing state-funded pensions for the elderly to boost consumption and employment. -
Roosevelt Reelected
Franklin D. Roosevelt is elected to a second term as president, winning over Republican Alf Landon.