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Herbert Hoover became president. His policies did little to stop the Depression.
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On Black Tuesday, share prices completely collapsed. The stock market loses 12 times more money in three weeks than the government spends in a year.
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More than 40% of the nation's banks fall. Over 600 of banks closed nationwide.
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It established the highest protective tariff in U.S. history. It was designed to protect American farmers and manufacturers from foreign competition. The tariff ended up making unemployment worse and trade fell by 40%.
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8.02 million Americans are unemployed. Unemployment in the United States went from 4 million to 12 million. Every day 1,000 homes are repossessed.
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A public works project that provided employment for 5,000 men. It provided water and electricity for the American southwest.
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2,600 schools across the nation had shut down, meaning 300,000 students were not going to school. Thousands of children went to work instead, in horrendous conditions.
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Franklin D. Roosevelt became president. He creates the New Deal which helps reform and recover needs from the Great Depression.
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Franklin D Roosevelt launched the economic policy of the New Deal. The New Deal policies focused on three general goals: relief for the need, economic recovery, and financial reform.
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A windstorm picked up millions of tons of dust from the plains and carried it in the East Coast. The region that was hit the hardest was Kansas, Oklahoma, Texas, New Mexico, and Colorado.
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It was set out to create as many jobs as possible. It spent $11 billion to give jobs to 8 million workers.
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It established hourly minimum wage and set rules for the employment of workers under 16 and banned hazardous factory work for those under 18.
