The Great Depression

By jaycobherr

  • Black thursday

    Black thursday
    when 16 million shares of stock were quickly sold by panicking investors who had lost faith in the American economy

  • bank crash

    bank crash
    banks do not have there costumers money and forced to closed down causing riots and panic.

  • food riots

    food riots
    Food riots broke out in Minneapolis.

  • stocks continue to fall

    stocks continue to fall
    Dow bottomed at 41.22. That was a 90% slide from its September 1929 pre-crash high.

  • roosevelt new deal

    roosevelt new deal
    Franklin Delano Roosevelt launched the New Deal with the Emergency Banking Act. It closed all U.S. banks to stop devastating failures.

  • black sunday

    black sunday
    Black Sunday was the worst dust storm ever. FDR passed the Soil Conservation Act to teach farmers sustainable methods.

  • Unemployment

    Unemployment
    The Supreme Court declared the National Industrial Recovery Act unconstitutional. FDR launched more programs focused on the poor, the unemployed, and farmers.

  • Climate

    Climate
    The hottest summer on record began. Eight states experienced temperatures at 110 degrees or greater.

  • FDR plan to get out of depression

    FDR plan to get out of depression
    FDR pushed Congress to enact a $5 billion relief program. It included the Federal National Mortgage Association that resold mortgages on the secondary market. The New Agricultural Adjustment Act remedied the 1933 AAA. The Fair Labor Standards Act established the U.S. minimum wage, overtime pay, and youth employment standards.

  • depression resumes

    depression resumes
    The economy started contracting again,as the Depression resumed.
    For the year, the economy grew 5.1%, unemployment fell to 14.3%, and prices rose 2.9%. The debt rose to $37 billion.

  • Great depression over

    Great depression over
    The economy started to grow again. The Great Depression was over. For the year, the economy shrank 3.3%. Unemployment rose to 19%. Prices fell 2.8%. The debt remained steady at $37 billion.

  • mark to market

    mark to market
    In 1938, FDR abolished mark to market accounting. Some experts believed it forced many banks out of business. The rule forced banks to write down their real estate as values fell. FDR's new rule allowed them to keep these assets on their books at historical prices.