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Herbert Hoover becomes president
Herbert Hoover is elected to be the 31st president of the United States -
Stock Market reaches a new peak
The stock market reaches an all time high. This marked the first real sign of the depression -
Black Thursday
The stock market begins to crash as a result to the high that is reached. Stock prices fell 11% and investors lost substantial amounts of money. -
Black Tuesday
Due to the devastating crash on black Thursday, the stock market plunges another 12%. Banks began to step in and lost income as well. The new York Stock Exchange completely caved in. -
Unemployment
The unemployment rates plunge as well, down to just 3.2%, making it harder to make money. The banks continue to crash due to the lessened amount of credit available to the public. -
Dust Bowl
The dust bowl drought hit many states from the Mississippi river to the Mid- Atlantic area. This caused many crops to fail as well as many people to pass away from the massive amounts of sand in their lungs. Farmers lost income due to not being able to produce crops. Hoover demanded that the American Red Cross help the situation and many hospitals and care areas were built to help these areas in need -
Smoot- Hawley Tarrif Act
President Hoover sings this act in attempts to help the farmers who were losing income but instead increased tariffs on foreign agricultural imports. This added much strain to the Great Depression -
Food Riots Break Out
Due to the limited amount of food and resources from the effects of the dust bowl, people started to become angry. Lots of riots broke out in different parts of the United States -
Bonus March
Many of the veterans from WWI demand their pay although they have not surpassed the year their pay was guaranteed.They camp on at Washington before being driven out by the current army at that time period. -
Franklin D. Roosevelt is elected president
Due to Roosevelt's outstanding "New Deal" speech, he is elected president to try and solve some issues happening in the society -
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Laws Are Passed
The first hundred days of Franklin's presidency begins. He establishes over 15 new laws including the Emergency Banking Law. Regulations are set for the stock market as well as many acts are established, including the National Industrial Recovery Act, The Farm Credit Act, The Banking Act, The Federal Emergency Relief Act, and The Agricultural Adjustment Act -
Franklin D. Roosevelt Is Elected again
Roosevelt is elected a second time due to his outstanding process in resolving conflicts during the depression. -
WWII
World War II breaks out and Germany (Hitler) invades Poland. The depression continues to linger for several years as the United States continues to regain their armed forces
