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The stock Market Crashed, also known as "Black Tuesday", beggining several weeks of market panics.Approximately 12.8 million shares of stock are sold in one day, most at prices far below their values only a few days earlier.
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Severe drought and Dust Bowl conditions began to ruin farmers’ land.
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Food riots broke out, workers marched on Detroit, and “foreign workers” were deported
No major legislation is passed addressing the Depression. -
Congress established the Reconstruction Finance Corporation to lend $2 billion to banks, insurance companies, building and loan associations, and farming organizations.
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President Roosevelt delivers his first radio "fireside chat," explaining to the American people what has happened in the U.S. banking system.
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Franklin D. Roosevelt took office
More than 11,000 of the nation’s 25,000 banks had closed
Roosevelt announces a three-day “bank holiday” to prevent a
third run on banks and to shore up the banking system -
Roosevelt establishes the Civil Works Administration (CWA) to assist unemployed workers through the winter months.
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Congress passes the Emergency Relief Appropriation Act creating the Works Progress Administration (WPA) and providing almost $5 billion for work relief for the unemployed for such projects as construction of airports, schools, hospitals, roads, and public buildings. This act marks the beginning of the Second New Deal
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Roosevelt creates the Resettlement Administration (RA) to help poor farmers either improve the use of their lands or move to better lands. The agency's Historical Section begins a major photodocumentary project of the Depression.
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Congress passes the National Labor Relations Act, better known as the Wagner Act, to support the right of workers to organize and bargain collectively with employers over working conditions, benefits, and wages. The act also bans certain unfair business practices.
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The Work Projects Administration (WPA) was formed to employ up to 8.5 million people on public works projects across the country
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Franklin D Roosevelt was reelected for a second term of presidency
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Roosevelt asked Congress for an additional $3.75 billion to stimulate the still floundering economy
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A new look in women’s fashion emerged in the 1930s. In response to the economic crisis, designers created more affordable fashions with longer hemlines, slim waistlines, lower heels, and less makeup. Accessories became more important as they created the impression of a “new” look without having to buy a new dress
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The suffering American economy was given a boost when the fighting countries needed supplies and looked to America to make them.After Pearl Harbor was bombed on December 7, 1941, America entered the war. The U.S. enlisted more than 10 million men and women into the military. Since so many were fighting in the war, it was left for those left at home to work in the factories to make supplies for the war effort.
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FDR got reelected for his third term of presidancy
