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Black Tuesday
Stock market crashed, Black Tuesday, http://goo.gl/7LoYSA, video: http://youtu.be/mOZogC1rSPU -
Smoot-Hawley Tariff in 1930
Hoover and congressional Republicans passed the even higher Smoot-Hawley Tariff in 1930, http://goo.gl/k1GoIp, https://youtu.be/iVHJ3_FJZKg -
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1930: Severe drought and Dust Bowl conditions began to ruin farmers’ land, a condition that lasted until 1935
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Food riots
http://goo.gl/FkzUs, Food riots broke out, workers marched on Detroit, and “foreign workers” were deported -
New York bank collapse
December -- New York's Bank of the United States collapses. At the time of the collapse, the bank had over $200 million in deposits, making it the largest single bank failure in the nation's history. http://goo.gl/frFsj7 -
January 1932: Congress established the Reconstruction Finance Corporation to lend $2 billion to banks, insurance companies, building and loan associations, and farming organizations
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In 1932, however, with the country mired in the depths of the great Depression and some 13-15 million people (or more than 20 percent of the U.S. population at the time) unemployed, Democrat Franklin D. Roosevelt won an overwhelming victory in the preside
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July -- The Reconstruction Finance Corporation is authorized to lend needy states sums from the national Treasury. The money was to target relief and public works projects.
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Washington DC
Bonus Army removal begins in Washington, D.C. Two veterans are killed. http://goo.gl/QhO8gH -
: Franklin D. Roosevelt beat Herbert Hoover in a landslide
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Nov. Franklin Delano Roosevelt
Nov. Franklin Delano Roosevelt, is elected the 32nd president of the United States. He would serve through WWII and for nearly four terms. -
By Inauguration Day , every U.S. state had ordered all remaining banks to close at the end of the fourth wave of banking panics, and the U.S. Treasury didn’t have enough cash to pay all government workers.
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1933: The Civilian Conservation Corp (CCC) was established to put young men to work in federal and state parks
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1933: The National Recovery Administration (NRA) was introduced
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1933: The Federal Deposit Insurance Corporation (FDIC) was established to insure bank deposits
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Glass-Steagall Act of 1932
Jun 16. Glass-Steagall Act of 1932 is passed by Congress, this Act affected banking reforms during the period meant to better manage the practice of speculation.
http://www.investopedia.com/articles/03/071603.asp -
The Banking Act was passed to strengthen the Federal Reserve System.
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The second new deal
Criticism from both conrservatives and liberals prompted Roosevelt to push a second wave of New Deal legislation through Congress from 1935 to 1936, in a collective package known as the Second New Deal. http://goo.gl/IzDbrx, https://youtu.be/a5n4u4cF4Pg -
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the first Agricultural Adjustment Administration in Butler v. United States in 1936.
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1937: May -- Ten people are killed and a dozen more are wounded in the "Memorial Day Massacre" at Republic Steel's South Chicago plant. Workers and their families had tried to combine a picnic with a rally and demonstration.
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Second depression
Economic recovery stops and a second depression begins. It is called the "Roosevelt Recession."http://goo.gl/Hs8J0G -
1938, this second severe contraction reversed many of the gains in production and employment and prolonged the effects of the Great Depression
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Wage law
Fair Labor Standards Act passed which established the first national minimum wage law. http://goo.gl/98r2WA -
1939:World War II starts with Hitler's invasion of Poland.
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Freshman Republicans then passed the Hatch Act of 1939 to reform national elections
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December 7, 1941 Japan attacks Pearl Harbor. Japan bombs American ships at Pearl Harbor in Hawaii. Thousands of Americans are killed in the attack.
