-
Nov 11, 1918, The end of WWI
During the first world war the government cut funding which led to major slowdown issues. However people were able to recover before the Great Depression hit. -
Period: to
Significants Events leading/during The Great Depression.
-
Jan 1st, 1924, The rise of the Stock market.
The stock market is significantly rising with great numbers very quickly. However, as the lower class expands, America's middle class diminishes. The stock market rising also has nothing to do with the rest of the world’s economy. -
Sep 4th, 1929. The U.S.’s stock market prices are starting to drop.
Stock market drops are considered to have signaled the start of the Great Depression. -
Wall street stock market crash. (Black Tuesday Oct 29, 1929)
In the 1920’s many people believed that they could make a lot of money investing in stocks, furthermore they invested their life savings or used credit, they did all so forgetting that the stock market is volatile. The country was unprepared when the market collapsed on October 29, 1929. The Stock Market Crash of 1929 contributed significantly to the start of the Great Depression. -
June 17th, 1930. Smoot-Hawley Tariff.
In an attempt to safeguard American manufacturers from foreign competition, Congress imposes the Smoot-Hawley Tariff, which raises import duties dramatically. The tariff hike has minimal effect on the American economy, but it deepens Europe's problems. -
October 29, 1930. The tragic Dust Bowl.
Farmers were frequently shocked and knocked off their feet when opening their automobile doors due to static electricity created by dust and high-speed wind. Residents were required to wear gas masks to avoid inhaling too much wind, which resulted in numerous deaths at the time. Drought and Dust Bowl conditions wreaked havoc on farmers' goods. -
Dec 1st, 1931. Reconstruction Finance Corporation.
The Corporation intended to save banks and railroads from going bankrupt by lending money to them. Unfortunately, this had little impact on the Great Depression as a whole and did not help to turn the economy around. -
Jan 1st, 1933. New Deals Begin.
President Franklin D. Roosevelt began implementing the New Deal, which began to improve the economy by enacting minimum wage and maximum work week laws, as well as child labour rules and unemployment compensation. In addition to agricultural loans, civilian conservation corps were established, and bank reform was implemented. -
Jan 1st, 1933. Unemployment rate hits 25 %
The unemployment rate hit 25 percent which is crazy. -
Jan 1st, 1933. The start of something horrible, Hitler gets control.
Because of Germany's economic failure, Hitler was able to rise to power and win the people's support by turning the economy around.