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Major Events of the Great Depression
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Stock Market Crash
Known as "Black Thursday" the stock market crashed and this signaled the start of the Great depression -
Smoot-Hawley Tariff Act
This increased tariffs for imported goods and when countries also responded with tariffs, it worsened the severity of the Great Depression -
RFC
Lent money to buisneses to try to keep them running. It did help keep them running for longer. -
Revenue Act
This increased tax which in turn hurt the economy even more because this discouraged spending -
FDR Elected
Franklin Roosevelt wins the election and this gives hope to the American people that he will fix the Great depression -
Emergency Banking Act
This gave control of the bank to the president and in turn corrected the banks and made the money going through more secure and this helped to start the stablization of the banking system again. -
AAA
This administration regulated the production of crops which helped the prices steadily increase which helped the farmers earn money and keep American people fed. -
HOLC
When the HOLC was founded this provided money to homeowners that could not keep up with mortgages which kept families in homes instead of on the streets -
FDIC
On this date the FDIC was founded which protected bank accounts up to $5,000 which helped the American people with the bank failures that were haunting the nation in this time period and provided some stability in the reformation of the banking system -
CWA
The Civil Works Administration is founded and this was important because it would employ hundreds of thousands of Americans that before then were jobless. -
Prohibition Ends Nationally
On a national level Prohibition ends on a state level in some it was still banned but this provided legal employment for alcohol and increases money from tax -
Social Security Act
Put up a safety new for the elderly that couldn't work which made taking care of the family easier.
