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Period: 2017 BCE to 2017 BCE
Ford Hunger March
The stock market crashed in October of 1929. By 1930 millions were without work. Nowhere was the pain felt more deeply than in Detroit, where the auto industry’s promise of prosperity had turned into its opposite. When the Trade Union Unity League, the Communist Party, the Young Communist League and the newly formed Unemployed Councils called a coast-to-coast demonstration on March 6, among the millions of participants were 100,000 at a rally in the Motor City. Detroit police -
Period: 2017 BCE to 2017 BCE
Bonus Army Conflict
The Bonus Army was the popular name for an assemblage of some 43,000 marchers—17,000 U.S. World War I veterans, their families, and affiliated groups—who gathered in Washington, D.C. in the summer -
Period: 2017 BCE to 2017 BCE
Franklin Delano Roosevelt elected President
Born on January 30, 1882, in Hyde Park, New York, Franklin D. Roosevelt was stricken with polio in 1921. He became the 32nd U.S. president in 1933, and was the only president to be elected four times. -
Period: 2017 BCE to 2017 BCE
Federal Emergency Relief Administration created
The Federal Emergency Relief Administration was the new name given by the Roosevelt Administration to the Emergency Relief Administration which President Herbert Hoover had created in 1932. -
Period: 2017 BCE to 2017 BCE
Congress passes Glass-Steagall Act
The emergency legislation that was passed within days of President Franklin Roosevelt taking office in March 1933 was just the start of the process to restore confidence in the banking system. Congress saw the need for substantial reform of the banking system, which eventually came in the Banking Act of 1933, or the Glass-Steagall Act. The bill was designed “to provide for the safer and more effective use of the assets of banks, to regulate inter bank control, to prevent the undue diver -
Period: 1932 BCE to 1957 BCE
Congress establishes the Reconstruction Finance Corporation
The Reconstruction Finance Corporation (RFC) was a government corporation in the United States between 1932 and 1957 that provided financial support to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses. -
Period: 1913 BCE to 1931 BCE
New York’s Bank of the United States collapses
The Bank of United States, founded by Joseph S. Marcus in 1913 at 77 Delaney Street in New York, was a New York City bank that failed in 1931. The bank run on its Bronx branch is said to have started the collapse of banking during the Great Depression. -
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Introduction of “Bonus Bill”
In 1929, Texas congressman Wright Patman wrote a bill for the immediate payment of the bonuses. To do so, the government would have to raise the rest of the money that was to be given to the veterans when the bonds matured in 1945 - over two billion dollars. This legislation got nowhere, but gained in popularity. The idea was supported by Hearst newspapers and others. Patman introduced the bill at the opening session in January 1931. -
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Black Thursday/Black Tuesday
Stock prices began to decline in September and early October 1929, and on October 18 the fall began. Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded. Investment companies and leading bankers attempted to stabilize the market by buying up great blocks of stock, producing a moderate rally on Friday. On Monday, however, the storm broke anew, and the market went into free fall. Black Monday was followed by Black Tuesday (October 29), -
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Food Riots in Minneapolis
February in 1931 in Minneapolis several hundred men and women smashed the windows of grocery market and made off with fruit canned goods, bacon, and ham. One of the store's owners pulled out a gun to stop the looters but was leap upon and had his arm broken. The riot was brought under control by 100 policemen seven people were arrested. -
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Civilian Conservation Corps is established
The Emergency Conservation Work (ECW) Act was introduced to Congress the same day and enacted by voice vote on March 31. Roosevelt issued Executive Order 6101 on April 5, 1933 which established the CCC organization and appointed a director, Robert Fechner, a former labor union official who served until 1939.