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Stock Market Crash
The stock market crashes, marking the end of six years of unparalleled prosperity for most sectors of the American economy. The "crash" begins on October 24 (Black Thursday). By October 29, stock prices will plummet and banks will be calling in loans. An estimated $30 billion in stock values will "disappear" by mid-November. -
Period: to
The Great Depression
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Unemployment spikes
More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. -
Food Riots Begin
"Food riots" begin to break out in parts of the U.S. In Minneapolis, several hundred men and women smash the windows of a grocery market and make off with fruit, canned goods, bacon, and ham -
Ford Motor Company March
Three thousand unemployed workers march on the Ford Motor Company's plant in River Rouge, Michigan. Dearborn police and Ford's company guards attack the workers, killing four and injuring many more. -
Congress Passes The Emergency Banking Act of 1933
Congress passes the Emergency Banking Act of 1933. By month's end, three-quarters of the nation's closed banks will be back in business. -
Dust Storm
A three-day dust storm blows an estimated 350 million tons of soil off of the terrain of the West and Southwest and deposits it as far east as New York and Boston. Some east coast cities are forced to ignite street lamps during the day to see through the blowing dust. -
Social Security Act of 1935
The Social Security Act of 1935 is signed into law by FDR. Among the most controversial stipulations of the act is that Social Security will be financed through a payroll tax. -
FDR asks Congress to authorize $3.75 billion in federal spending
FDR asks Congress to authorize $3.75 billion in federal spending to stimulate the sagging economy. Economic indicators respond favorably over the next few months. Still, unemployment will remain high and is predicted to stay that way for some time. -
FDR Elected for 3rd Term
Franklin Roosevelt is elected to an unprecedented third term as president, defeating Wendell Willkie. FDR's victory is seen as proof of the nation's support of his war policies.
