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President Herbert Hoover says
President Herbert Hoover says, "Any lack of confidence in the economic future or the basic strength of business in the United States is foolish." -
3.2 million people
More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. President Hoover remains optimistic, however, stating that "all the evidences indicate that the worst effects of the crash upon unemployment will have passed during the next 60 days." -
New York City
The street corners of New York City are crowded with apple-sellers. Nearly 6,000 unemployed individuals work at selling apples for five cents apiece. -
street corners
The street corners of New York City are crowded with apple-sellers. Nearly 6,000 unemployed individuals work at selling apples for five cents apiece. -
Texas
Texas congressman Wright Patman introduces legislation authorizing immediate payment of "bonus" funds to veterans of World War I. The "bonus bill" had been passed in 1924. It allots bonuses, in the form of "adjusted service certificates," equaling $1 a day for each day of service in the U.S., and $1.25 for each day overseas. President Hoover is against payment of these funds, saying it would cost the Treasury $4 billion. -
Congress
Congress establishes the Reconstruction Finance Corporation. The R.F.C. is allowed to lend $2 billion to banks, insurance companies, building and loan associations, agricultural credit organizations and railroads. Critics of the R.F.C. call it "the millionaires' dole." -
President Roosevelt
President Roosevelt, under the Emergency Banking Act, orders the nation off of the gold standard.
The Civilian Conservation Corps (CCC) is established. Designed as a relief and employment program for young men between the ages of 17 and 27, the CCC is made up of groups of young men who work in national forests, parks, and federal land for nine-month stints. FDR envisions the program as a kind of volunteer "army." The first 250,000 young men are housed in 1,468 camps around the country. At its p -
three-day dust storm
A three-day dust storm blows an estimated 350 million tons of soil off of the terrain of the West and Southwest and deposits it as far east as New York and Boston. Some east coast cities are forced to ignite street lamps during the day to see through the blowing dust. -
National Youth Administration
The National Youth Administration is set up to address the needs of young men and women (who are not allowed in the CCC). The NYA works on two levels: a student-work program and an out-of-school program. The student-work program provides students with odd jobs that pay them enough to stay in school. The out-of-school program sets young people up with various jobs ranging from house painting to cleaning local parks, and eventually comes to include vocational training. -
FDR
FDR signs the Wagner National Labor Relations Act. The goal of the act is to validate union authority and supervise union elections. -
Social Security Act
The Social Security Act of 1935 is signed into law by FDR. Among the most controversial stipulations of the act is that Social Security will be financed through a payroll tax. Historian Kenneth S. Davis calls the signing of the act "one of the major turning points of American history. No longer could `rugged individualism' convincingly insist that government, though obliged to provide a climate favorable for the growth of business profits, had no responsibility whatever for the welfare of the hu -
San Francisco News
The San Francisco News publishes a series of articles written by John Steinbeck called "The Harvest Gypsies." The series explores the hardships faced by those living and working in migrant labor camps. Steinbeck writes, "...One has only to go into the squatters' camps where the families live on the ground and have no homes... to look at the strong purposeful faces, often filled with pain... to know that this new race is here to stay and that heed must be taken of it." -
United Automobile Workers strike
United Automobile Workers strike at the General Motors Plant in Flint, Michigan. The strike turns violent when strikers clash with company-hired police. -
New Deal programs
The slow economic recovery made possible by New Deal programs suffers a setback as unemployment rises. FDR's detractors call it the start of the "Roosevelt recession." -
FDR asks Congress to authorize $3.75 billion
FDR asks Congress to authorize $3.75 billion in federal spending to stimulate the sagging economy. Economic indicators respond favorably over the next few months. Still, unemployment will remain high and is predicted to stay that way for some time. -
Franklin Roosevelt is elected
Franklin Roosevelt is elected to an unprecedented third term as president, defeating Wendell Willkie. FDR's victory is seen as proof of the nation's support of his war policies. Roosevelt lobbies Congress to pass the Lend-Lease Act, which will aid Britain in its struggle to fend off Germany. In little over a year, following Japan's December 1941 bombing of Pearl Harbor, the U.S. will enter the war in the Pacific and in Europe. The war effort will jump-start U.S. industry and effectively end the
