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Stock Market Crashes
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Period: to
Great Depression Timeline
Food was noodles with salt and rubbed on them -
Black Tuesday is named
Losses of the month will total to about $16 million -
Depression
No major legislation is passed adressing the Depression -
GNP falls and unemployment rises
GNP: 8.5%
Unemployment: 15.9% -
Unenployment
Over 13 million Americans have lost jobs since 1929. -
Banks
10,000 banks have failed since 1929, or 40% of the 1929 total -
Trading
International trade has fallen by two-thirds since 1929 -
Congress passes two acts
Congress passes:
Federal Home Loan Bank Act
Glass-Steagall Act of 1932 -
TopTax Rate
Raised 25 to 63 percent -
First 100 Days
Roosevelt inaugurated; begins "First 100 Days"; of intensive legislative activity. -
Free Fall
GNP significantly slowed; it goes down 2.1% this year.
Unemployment raises slightly, to 24.9% -
A Long Road To Recovery
Ecnomy truns around. GNP rises 7.7%. Unemployment falls to 21.7% -
National Recovery Administration
Supreme Court declares the National Recovery Administration to be unconstitutinal. -
Congress
Banking Act of 1935, the Emergency Relief Appropriation Act, the Nationa; Labor Relations Act, and the Social Security Act get passed by congress -
Economic Recovery
GNP grows a record of 14.1%
Unemployment falls to 16.9%
