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The Great Depression
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Stock Market Crash
The stock market crashes and billions of dollars were lost, wiping out thousands of investors. Banks were calling in loans and stock tickers ran hours behind because the machinery could not handle the large amount of trading. -
Unemployment
The unemployment avergaes to 3.2% for the year -
Period: to
Dust Bowl
The Dust Bowl, also known as the 'Dirty Thirties", was a time when there was large dust storms caused by poor land practices. Farmers tripped the land of its native vegetation, which destroyed the delicate ecology of the southern plains. People often became ill. Agronomists and conservationists taught farmers to prevent soil erosion, encouraged farmers to also take certain crops out of production and to also rotate their crops. Certain crops use different nutrients from the soil. -
Smoot-Hawley Tariff
The Smoot-Hawley Tariff was an act that Congress passed to raise U.S.tariffs on over 20,000 imported goods. It was an attempt to protect American manufactures from foreign competition. It had little impact on the American economy but put Europe into a deeper crisis. -
Unemployment
Unemployment averages 8.9% for the year. -
Major Bank Collapse
New York's Bank of the United States collapsed in the largest bank failure in American history. $200 million in deposits disappeared. -
Unemployment
Unemployment averaged to 16.3% for the year. -
Franklin D. Roosevelt
Democrat, Frankin D. Roosevelt defeats republican Herbert Hoover and becomes president. -
Unemployment
Unemployment averages to 24.% for the year and stocks reached their lowest point. -
Civilian Conservation Corps
The CCC was one of the first New Deal programs. It was a public works project inteneded to promote environmental conservation and to build good citizens through disaplined outfoor labor. He believed that this would relieve the rural unemployed and keep youth “off the city street corners.” -
Fireside Chat
President Roosevelt delivers his first radio "fireside chat," explaining to the American people what has happened in the U.S. banking system. -
Civil Works Administration
The CWA, established by Roosevelt, was a short-lived U.S. job creation program established by the New Deal during the Great Depression to rapidly create manual labor jobs for millions of unemployed workers. The jobs were temporary during the winter of 1933-1934. -
Unemployment
Unemployment averages to 24.9% for the year. -
Bank Closures
By the year 1933 more than 11,000 of the nation’s 25,000 banks had closed. -
Unemployment
Unemployment averages at 21.7% for the year. -
Emergency Relief Appropriation Act
Congress passes the Emergency Relief Appropriation Act creating the Works Progress Administration (WPA) and providing almost $5 billion for work relief for the unemployed for such projects as construction of airports, schools, hospitals, roads, and public buildings. This act marks the beginning of the Second New Deal. -
Unemployment
Unemployment averages to 20.1% for the year. -
Unemployment
Unemployment averages 16.9% for the year. -
Unemployment
Unemployment averages 14.3% for the year. -
Unemployment
Unemployment averages 19.0% for the year. -
Unemployment
Unemployment averages 17.2% for the year. -
Mobilization Lifts Economy
The Japanese attack on Pearl Harbor brings the U.S. into World War II. Mobilization for war finally lifts the American economy permanently out of the Great Depression. The suffering American economy was given a boost when the fighting countries needed supplies and looked to America to make them.
