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Stock Market Crash
The stock market crashing at its peak because of the roaring 20's was the true start of the deppresion. -
Hoover
Hoover signed the Smoot Hawley Tariff Act which raised taxes on 900 imports causing the drought of 23 states from the MIssissippie river to the mid Atlantic Region. -
Food Riots
Food Riots began to break out in Minneapolis the economy shrank 6.4% and the unemployment rate rose 15.9% because of the drought. -
Congress
The congress created the Reconstruction Finance Corporation to lend money to prevent further failures and give some to states to provide relief. -
Roosevelt
Roosevelt launched the New Deal with the Emergency Banking Act to close all U.S. Banks to stop devistating failures. -
Gold Reverse Act and Dust Storm
The Gold Reverse Act prohibits private ownership of gold and doubled its price and the worst dust storm ever hit the country. -
Supreme Court
The Supreme Court declared the National Industrial Recovery Act unconstitutional the FDR launched more programs focused on the poor, the unemployed, and farmers. -
Hottest Summer
The hottest summer on record began and eight states experienced temperatures at 110 degrees and four other states broke 120 degrees. -
Roosevelts 2nd Term
He launched a third New Deal The Wagner-Steagall Act funded state-run public housing project. -
Abolishment of Mark to Market Accounting
FDR abolished Mark to Marketing Accounting which forced many banks out of business it forced banks to write down there real estates as valuse fell. -
The Drought Returned
The drought returned and Louisiana experienced record temperatures and The Federal Security Agency was launched to administer Social Security, federal education funding, and food and drug safety.
