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Black Thursday
On October 24 -- Black Thursday -- stock prices plummet and panic selling ensues as people try to sell stock for any price they can get. -
Black Tuesday
October 29 -- Black Tuesday -- stocks will completely collapse and banks will be calling in loans. -
Beginning of Unemployment
More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. -
Starvation of People
"Food riots" begin to break out in parts of the U.S. In Minneapolis, several hundred men and women smash the windows of a grocery market and make off with fruit, canned goods, bacon, and ham. -
Bank of the United States Collapses
New York's Bank of the United States collapses. At the time of the collapse, the bank had over $200 million in deposits, making it the largest single bank failure in the nation's history. -
Reconstruction Finance Corporation is Established
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. -
Americans are Dependent on City Relief
More than 750,000 [people] are reported to be dependent upon city relief, with an additional 160,000 on a waiting list. -
Soil Erosion Service is Created
With an eye toward organizing farmers into soil conservation districts, the federal government establishes the Soil Erosion Service. -
FDR is President
Franklin Delano Roosevelt is elected president in a landslide over Herbert Hoover. Roosevelt receives 22.8 million popular votes to Hoover's 15.75 million. -
FDR announces his New Deal
Before a crowd of 100,000 at the Capitol Plaza in Washington, D.C., Franklin Delano Roosevelt is inaugurated and announces his plan for a New Deal. -
Congress Passes the Emergency Banking Act of 1933
By March 9, Congress passes the Emergency Banking Act of 1933. By month's end, three-quarters of the nation's closed banks will be back in business. -
The Civilian Conservation Corps is Established
The Civilian Conservation Corps (CCC) is established. FDR envisions the program as a kind of volunteer "army." -
The National Recovery Administration is Formed
The National Industrial Recovery Act is introduced into Congress. Under Title I of the act, the National Recovery Administration is designated to maintain some form of price and wage controls -
Civil Works Administration
The Civil Works Administration is established. Devised as a wide scale program that could employ up to 4 million people -
CWA is Removed
After receiving much criticism, Roosevelt announces that he will replace it with another administration. -
Workers Progress Administration is Established
FDR signs legislation creating the Works Progress Administration. (Its name would be changed in 1939 to the Work Projects Administration.) The program employs more than 8.5 million individuals in 3,000 counties across the nation. -
National Youth Administration
The National Youth Administration is set up to address the needs of young men and women -
FDR creates the NLRA
FDR signs the Wagner National Labor Relations Act -
Social Security Act is Formed
The Social Security Act of 1935 is signed into law by FDR. -
FDR is elected for Second Term
Defeating Kansas Governor Alfred M. Landon, FDR is elected to his second term as president. -
Roosevelt Recession
The slow economic recovery made possible by New Deal programs suffers a setback as unemployment rises. -
FDR stabilizes the Economy
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. -
FDR is elected for Third Term
Franklin Roosevelt is elected to an unprecedented third term as president, defeating Wendell Willkie. -
The Great Depression Ends
The U.S. enter[s] the war in the Pacific and in Europe. The war effort will jump-start U.S. industry and effectively end the Great Depression.
