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The Great Depression
This is a breif timeline for the American Great Depression, It does not depict events leading up to the start of the depression, but those such events are still very important. -
Wall Street Crash
Also known as "Black Tuesday". The American stock market collapses; share prices on the NYSE (New York Stock Exchange) collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate, for a full month. -
Unemployment in 1929
Unemployment averages 3.2% for the year. -
Smoot-Hawley Tariff
Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. The tariff increase has little impact on the American economy, but plunges Europe farther into crisis. -
New York Bank Colapse
New York's Bank of the United States collapses in the largest bank failure to date in American history.[M31] $200 million in deposits disappear, and the bank's customers are left holding the bag. -
Unemployment in 1930
Unemployment averages 8.9% for the year. -
Unemployment in 1931
Unemployment averages 16.3% for the year. -
Roosevelt Elected
Democrat Franklin D. Roosevelt defeats Republican President Herbert Hoover in a landslide to win the presidency. -
Unemployment in 1932
Unemployment averages 24.1% for the year. -
Townsend Pention 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. -
Unemployment in 1933
Unemployment averages 24.9% for the year. -
Townsend Plan Incorperated
Dr. Francis Townsend formally incorporates Old Age Revolving Pensions, Ltd., to lead the Townsend Plan movement. -
Unemployment in 1934
Unemployment averages 21.7% for the year. -
Unemployment in 1935
Unemployment averages 20.1% for the year. -
Roosevelt Re-elected
Franklin D. Roosevelt is elected to a second term as president, winning in a landslide over Republican Alf Landon. Roosevelt wins every state but Maine and Vermont. -
Unemployment in 1936
Unemployment averages 16.9% for the year. -
Unemployment in 1937
Unemployment averages 14.3% for the year. -
Unemployment in 1938
Unemployment averages 19.0% for the year. -
Unemployment in 1939
Unemployment averages 17.2% for the year. -
Pearl Horbor
The Japanese attack on Pearl Harbor draws United States into World War II. Mobilization for war finally lifts the American economy permanently out of the Great Depression.