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Recession Begins
The Recession began in August. This was two months before the crash occured. Production in the USA begins to fall. -
Black Thursday
This day, the stock market began to crash. It was not terrible, but it led up to the official crash a few days later. There was a meeting that created a temporary fix to the problem. It had worked before, but it did not work this time. -
Black Tuesday
This was the day that the Great Depression began. The stock market completely crashed this day. This did not effect only the United States. Many other countries went through hardships because of this event. -
Smoot-Hawley Tariff Act
This act passed a tariff on all imported goods. Reed Smoot and Willis Hawley came up with this tariff. This act put a tariff on over 20,000 things. It reduced imports and exports in America by half. -
First Bank Failures
Around this time the first banks began to fail. The banks had been holding strong, but a few finally began to fall. The first bank failed, and many did after it. This did not only effect America, but many other economies as well. -
Second Bank Failures
More banks began to fail at this time. People began to expect less of the economy. They began to believe that prices would get lower. Citizens would not buy many things, because they wanted to take advantage of cheaper prices in the future. They also did not want to risk borrowing money from banks. -
Bank of the United States Collapses
New York's Bank of the United States collapsed on this day. It was the largest bank failure in America's history. The bank held over $200 million on the day it collapsed. -
New Deal Promised
Events in the New DealFrankin Roosevelt promised a new deal for America. This occured when he was elected the Democratic runner for president. This new deal would help pull America out of the depression. He had no clear ideas about this deal at the time, so he did not promise any certain things during this time. -
Franklin Delano Roosevelt
On this day, Franklin D. Roosevelt was elected president. He was a Democrat. He would be taking Herbert Hoover's place in office. Franklin Roosevelt had many ideas to help end the Depression. -
Economy Act of 1933
This was part of Franklin Roosevelt's 'new deal'. This cut the salaries of the federal workers. It also cut the benefit payments to the veterans. This act cut $243 million in federal spending. -
Agricultural Adjustment Act
About The AAAThis Act was created for farmers during the Great Depression. The government paid farmers to not plant part of their land, making crops worth more. Farmers were also told to kill extra livestock. Many people disliked this because of the meat gone to waste. -
Public Works Administration
About the PWAThis was a constructionagency created to help the economy. It constructed public works like dams, hospitals, schools, and bridges. The idea was to spend money on these projects to create jobs. Creating streets and highways was the most common project. -
Social Secutiry Act
About the Social Security ActThis act gave benefits to many people. People who had retired from their jobs were benefited from this. Unemployed people also got benefits from this act. This also protected children that lived with a single parent or a parent that got little to no income. -
Fair Labor Standards Act
This changed the working schedule for many people. This act made 44 hour maximum seven day work week. It also established a $.25 an hour minimum wage. The act also prohibited child labour under the age of sixteen. -
The Depression Ends
This is the day that the Great Depression ended in America. It ended the day that we joined World War II. During this time, workers' wages and salaries doubled. This, with other factors, helped end this Depression.
