Great Depression

Black Tuesday

Oct 29, 1929

Stock market crash on the New York Stock Exchange, marked the beginning of the Great Depression as investors panic and sell off their stocks, leading to a collapse in stock prices.

United States Leaves Gold Standard

Apr 19, 1933

Roosevelt takes the United States off the gold standard to combat deflation and increase the money supply, allowing for greater flexibility in monetary policy.

Glass-Steagall Act Signed

Jun 16, 1933

Roosevelt signs the Glass-Steagall Act into law, separating commercial and investment banking and establishing the Federal Deposit Insurance Corporation (FDIC) to protect bank deposits.

Gold Reserve Act Signed

Jan 30, 1934

Roosevelt signs the Gold Reserve Act, giving the government more control over the nation's gold reserves and further altering monetary policy during the Great Depression.

Social Security Act Signed

Aug 14, 1935

Roosevelt signs the Social Security Act into law, establishing the Social Security system to provide financial support for retirees, the disabled, and the unemployed.

Fair Labor Standards Act Signed

Jun 21, 1938

Roosevelt signs the Fair Labor Standards Act into law, establishing the first federal minimum wage and setting maximum working hours to improve labor conditions.

World War II Begins

Sep 9, 1939

Germany invades Poland, triggering the start of World War II, which ultimately leads to increased government spending and industrial production, helping to lift the United States out of the Great Depression.

Employment Act Signed

Dec 5, 1945

President Truman signs the Employment Act, committing the federal government to promote maximum employment, production, and purchasing power, setting the stage for post-war economic policy and recovery efforts.