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Stock Market crash
The stock market crashed and the Great Depressio began. -
Unempoyment Rate Highs
Unemployment averages 3.2% for the year. -
Unemployment Rises
Unemployment averages 8.9% -
Smoot-Hawley Tariff
Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. -
Uemployment in 1931 at %
Unemployment rates reach 16.3%. -
Major Bank Collapse
New York's Bank of the United States collapses in the largest bank failure to date in American history. -
Unemployment in 1932 at 24.1%
Unemployment rate reaches 24.1%. -
Roosevelt Elected
FDR beats Herbert Hoover in the election race. -
Roosevelt Inauguration
Roosevelt is inaugurated into office as the 32nd president. -
Unemployment in 1933 at 24.9%
Unemployment rate reahces 24.9%. -
Radio Priest
"Radio Priest', Charlie Coughlin's weekly broadcast draws an average of 30-45 million listeners. -
Townsend Propose Pension Plan
Dr. Francis Townsend sends a letter to the Long Beach Press-Telegram proposing state-funded pensions for the elderly to boost consumption and employment. -
Share Our Wealth Society Founded
People are encouraged to share their wealth with others. -
Unemployment in 1934 at 21.7%
Unemployment rates reach 21.7%. -
Townsend Plan Incoroporated
Townsend's plan for a pension is put itno action. -
Unemployment in 1935 at 20.1%
Unempoyment rates reach 20.1%. -
Townsedn Support Grows
Over 2 million people support Townsend's idea. -
Unemployment in 1936 at 16.9%
Unemployment rates reach 16.9%. -
Roosevelt Reelected
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Unemployment in 1937 at 14.8%
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Unemployment in 1938 at 19%
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Unemployment in 1939 at 17.2%
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Mobilizaton Lifts Economy