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Herbert Hoover became president in 1928 and won by a wide margin.
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Black Tuesday kicked off the start of the stock market crash.Stock Prices dropped by 11%
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On December 11th, 1930 the Bank of The United States failed. Hoover then returned the income tax to 25%.
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The drought continued, hitting eight Southern states the worst. It was the worst drought in the 20th century for Arkansas.
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Hoover signed the Revenue Act of 1932. It increased the top income tax rate to 63%. He wanted to reduce the federal deficit. Hoover believed it would also restore confidence. Instead, higher taxes worsened the Depression.
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Franklin Delano Roosevelt launched the New Deal with the Emergency Banking Act. This helped the banks from failure.
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In 1934, Black Sunday was the worst dust storm ever. The dust winds were fast and many people died from this.
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The Soil Conservation & Domestic Allotment Act paid farmers to plant soil-building crops.
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The hottest summer on record began. Many people died from the heat wave and drowning to cool off.
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FDR began his second term. He launched a third New Deal. FDR cut spending to reduce the debt. That cutback in New Deal spending pushed the economy back into the Depression.
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The economy rose again. The Great Depression was over. Everything was steady at the moment.
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Hitler invaded Poland and started World War 2. Economy grew and unemployment fell to 17%
