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Stock market crashed
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Period: to
Great Depression Important Dates
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Drought and Dust Bowl conditions ruin farmers’ land
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Stocks reached their lowest point
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Franklin D. Roosevelt beat Herbert Hoover in a landslide
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Franklin D. Roosevelt took office
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More than 11,000 of the nation’s 25,000 banks had closed
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Unemployment reached its highest level, at 25%
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Social Security Act signed into law, financed through payroll taxes
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FDR was elected to a second term as president
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FDR asked Congress for an additional $3.75 billion to stimulate the economy
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FDR was elected to a third term as president
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Preparations for World War II stimulated the American economy and effectively brought an end to the Great Depression