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World War 1 Ends
World War 1 ends in an Allied victory. Germany and much of Europe is left in shambles from war activities -
Period: to
Great depression
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Roaring 20's
Americans enjoying prosperity. Unemployment decreased by 5%, and GNP rose by 5.5% -
Increase in consumer credit purchases
Americans now buying big purchases like cars, tractors, and radios on credit. -
US raises tariffs
Creates a trade barrier for international markets. -
London Stock Exchange crashes
Top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery. -
Stock Market beginning to crash as a whole
About sixteen million shares were traded, and the Dow lost an additional 30 points, or 12% -
Unemployment seeps in
Result of overproduction and underconsumption. -
Great Depression in full swing
2/3 of Americans unemployed -
Franklin D. Roosevelt elected president
FDR becomes 32nd president of the US -
New Deal
FDR passed a series of economic reform laws to help jumpstart the economy. Included were programs such as Social Security and the National Recovery Administration.
