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Period: to
Great Depression
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Ruhr Crisis (Europe)
At the end of World War I, Germany signed the Versailles Treaty, which stated that Germany would assume responsibility for the war, and also that Germany would pay reparations to the Allied victors. However, Germany's economy was damaged, and the payment of reparations only increased the damage. French forces occupied the Ruhr Valley when Germany failed to make reparations to France. The French saw occupying the Ruhr Valley as a way to force Germany to pay the reparations. It was ineffective. -
Stock Market Crash of 1929 (US)
The Stock Market Crash of 1929, or "Black Tuesday", was the most devastating stock market crash in American history. It signalled the onset of the Great Depression. This crash occurred due to several factors, including a surplus of goods, an uneven distribution of wealth, and an increasing number of people buying on margin. -
Young Plan is adopted (US)
After World War I, Germany had to pay reparations to the Allied victors. However, Germany's economy had been damaged, so the Dawes Plan, which provided economic aid to Germany, was introduced. The Young Plan was adopted in lieu of the Dawes Plan because Germany would not have been able to pay the reparations. The Young Plan reduced reparations by 20%. -
Smoot-Hawley Tariff Act (US)
The Smoot-Hawley Tariff Act was instituted by President Hoover in place of the Young Plan when the Great Depression hit. The act raised US tariffs on imported and exported goods. The raised tariffs seemed to be beneficial at first, but they caused US imports and exports to decrease by over 60%, which had an effect in worsening the Depression. -
Dust Bowl droughts and dust storms (US)
The Dust Bowl was an area of the US where severe droughts and dust storms occurred. These dust storms happened from 1931 to 1940, and were greatly damaging to the US's agriculture and to the lives of those living in the Dust Bowl. The dust storms caused many farmers and others living in the Dust Bowl to lose their homes and move elsewhere. -
Lausanne Conference (Europe)
The Lausanne Conference was a meeting including representatives from Britain, France, and Germany. At the Lausanne Conference, it was decided that World War I reparations would be temporarily lifted due to the events of the Great Depression. Britain, France, and Germany also hoped that the US would decrease their reparations. Although the US did not decrease the reparations, Germany did not make any more payments due to the effects of the Great Depression. -
Bonus Army marches on Washington (US)
The Bonus Army were a group of World War I veterans who marched on Washington D.C. in order to demand early payments of bonus certificates that they received as veterans which could not be redeemed until 1945. Many veterans were unable to get jobs even before the Great Depression, and many needed the bonuses. President Hoover ordered General Douglas MacArthur to clear out the Bonus Army's campsite, and MacArthur burned it, but also continued by ordering another attack on the Bonus Army. -
Every European nation introduces tariffs and import quotas by this point
The Great Depression was an international issue that greatly impacted almost all countries regardless of their different industries. European countries were greatly impacted because they were still recovering from the effects of World War I. In order to deal with their worsening economies, European nations introduced tariffs and import quotas, and by November 1932, all European nations had introduced tariffs and import quotas. However, these only decreased the trade between nations. -
Adolf Hitler appointed Chancellor of Germany
Hitler succeeded Heinrich Bruning as Chancellor of Germany. Hitler was able to come into power due to the German people's discontent with Bruning's ineffective measures to relieve the economy from the Great Depression. After he was appointed Chancellor, Hitler began to remove limits to his power, and by 1939 he had become a dictator. -
Bank Holiday (US)
Upon his election, Franklin D. Roosevelt immediately declared a bank holiday. The Emergency Banking Act lasted until March 10. During the bank holiday, the entire banking system, including the Federal Reserve, was shut down. This allowed the Emergency Banking Act to be passed, which outlined plans for banking crises. -
First New Deal begins (US)
As soon as FDR was inaugurated, he began to introduce legislation to relieve the Great Depression. The legislation FDR introduced was collectively known as the New Deal. The First New Deal consisted of legislation introduce between 1933 and 1934. During the First New Deal, FDR introduced legislation such as the Public Works Administration. -
100 Days Congress (US)
The 100 Days Congress was when Franklin Roosevelt met with Congress for the first 100 days of his administration. Congress granted almost all of FDR's requests. Although the US's economy had been extremely bad, FDR was able to improve it greatly through the legislation he introduced during the 100 Days Congress. -
First Fireside Chat (US)
The Fireside Chats were informal speeches that Franklin Roosevelt delivered through the radio. The Fireside Chats allowed families to hear information from FDR himself, and were the first such speeches. The Fireside Chats also were instrumental in boosting morale during the Great Depression. The Fireside Chats were extremely popular, and they also improved FDR's popularity as well. -
Public Works Administration is created (US)
The Public Works Administration was formed as part of the first New Deal. The Public Works Administration was responsible for large construction projects, such as schools, roads, airports, bridges, and dams, which would create relief jobs. The Public Works Administration meant to create stabilize the economy by creating relief jobs, and also improve the nation's infrastructure by constructing public works. -
Second New Deal begins (US)
The Second New Deal occurred from 1935 to 1938. While the First New Deal focused on general relief and recovery of the economy, the Second New Deal focused on more specific goals for recovery. These goals included improving the use of natural resources, security for old age, combatting unemployment and illness, clearing slums, and creating a nationwide welfare program. -
Works Progress Administration formed (US)
The Works Progress Administration was the largest New Deal program, and employed 3.3 million and provided almost 8 million jobs. Lke the Public Works Administration, the WPA also funded construction projects such as roads. The WPA also employed artists, musicians, writers, and photographers in large arts projects, such as painting murals. -
Social Security Act (US)
The Social Security Act was passed by Congress during the Second New Deal. The Social Security Act was a social welfare act that provided federal assisstance for the elderly, people who had retired, and the unemployed. The Social Security Act saved money that had been deducted from taxes for people, which they could later receive and use when they were no longer employed, whether they had been fired or they had retired. -
Hoover Dam is dedicated by FDR
Construction on the Hoover Dam began in 1931 as a Public Works Administration Project. Although it was not fully finished until 1936, FDR dedicated the Hoover Dam, then known as the Boulder Dam, in 1935. The Hoover Dam project employed thousands of men in relief jobs, and also created a way to better harness energy and use natural resources. -
Roosevelt attempts "court packing"
Although a large amount of New Deal legislation had been passed, some legislation had also been regarded as unconstitutional. To increase the chances of the New Deal legislation being passed, FDR proposed the Judicial Procedures Reform Bill, also known as "court-packing". The court-packing plan would have allowed FDR to appoint additional judges to the Supreme Court, which would have upset the balance of power. The bill was not passed, and it negatively affected FDR's reliability as a president. -
Another recession occurs
During the Great Depression, the economy fluctuated. In 1937, the economy had improved, and returned to its 1929 state. However, in July, another recession suddenly hit, and unemployment levels rose again, lasting through 1938. Although the economy partially recovered in 1938, it did not recover fully improve until World War II. -
World War II begins (Europe)
World War II signalled brought the end of the Great Depression. Germany had been becoming more aggressive, until it finally invaded Poland, prompting Britain and France to declare war on Germany. Although the US did not join until later, it supported Britain and France. World War II successfully ended the Great Depression.
