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Germany surrenders and the war is over.
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The prices of the stockmarket skyrocket enormously.
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Farmers income drops to only 9% nationally.
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The stockmarket prices fall to a record breaking low of 381.17.
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The StockMarket crashes leaving investors in panic and crisis. It lost 30$ bllion in in two days.
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The first bank fails leaving people in a lot of trouble and causes a chain-link of fails nationwide.
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Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. The tariff increase has little impact on the American economy, but plunges Europe farther into crisis
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By this time 100,000 banks have failed
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In 1932, Congress passes the Glass-Stegall Act which bans any connection between commercial banks and investment banking.
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Germany's economy is also crippling so they look towards Hitler to lead them.
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The umemployment rate hits and unbeliveable 25%.
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Charles Coughlin gets 30-45 million listeners for his weekly broadcasts.
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FDR is elected as president of the united states to help us out of the depression.
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Fdr put" The New Deal" into action. The New Deal was a series a governemtn ran programs that were supposed to help the economy.
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The New Deal ends afetr 100 days
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In 1934, Congress passes the Securities and Exchange Act. This helped to police activities related to the selling of securities. The Trade Agreement Act was passed to help end the trade wars.
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In 1935, the Social Security Act was established to give assistance to the unemployed, handicapped and elderly. The Banking Act was passed to strengthen the Federal Reserve System.
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FDR is elected to a second term as president
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A Minimum Wage Bill was passed in 1938. This included implementing a 40-hour work week for workers of companies that participated in interstate commerce.
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America declares war
