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Buying on Credit
throughout the roaring '20s Americans are buying a lot of goods on credit -
Stock Prices Rising
stock prices are rising from 1928 to 1929 as people engage in activities known referred to as "over speculation". -
Herbert Hoover
Herbert Hoover wins the presidential election and becomes president of the United States -
Recession
A recession begins before the actually crash: many Americans are already living at or bellow a minimum substance level, backlogs in the business industry are growing, and -
Black Tuesday
At this point the panic reached its heights as the stock market crashed completely. -
Stock Market Crash Begins: Black Thursday
The stock market begin to crash on this date and reached its worst on Black Tuesday. It was the first day of real panic as investors rushed to pull their money back out. -
Public Works Programs Funding
Hoover set up funds for public works programs to take place instead of giving direct aid to the people, a minor attempting at easing the Great Depression by Hoover. -
1931- No major Legislation is passed
Herbert Hoover had a hands off approach to the Great Depression and did not bee live in giving direct aid to the people. He felt things would over time resolve themselves. -
Federal Home Loan Bank Act and the Glass-Steagall Act of 1932.
Legislature passed by Herbert Hoover to help with homes costs, better monitor loans, and place various provisions on banks. Hoover's measures are seen as too little, too late by many though. -
Period: to
The Worst Years of the Great Depression
Unemployment is at an increasing all time high
Banks are failing
the people are suffering and cannot provide -
FDR Becomes President
Franklin D. Roosevelt wins the election against Hoover in a landslide. -
Roosevelt's first 100 days
FDR immediately tried to provide some solutions to help ease the effects of the Great Depression as a part of his New Deal legislation. He set up several programs for the people including the following: Emergency Banking Act to get banks back up and running, farm relief, Civil Conservation Corps, Works Progress Administration, etc. -
The New Deal
When inaugurated, Franklin D. Roosevelt talks of a "New Deal" in his speech to help the American people impacted by the Industrial Revolution.