-
The construction boom ends.
As the economy deteriorates, construction across the country halts. -
Farmers share of income plumets
Farmers share of the national income drops to only 9 percent. -
U.S Stock Prices Fall
The fall of stock prices is seen as marking the beginning of the great depression. -
Stock market crash (Black Tuesday)
The Most devastating stock market crash in the history of the united states, the market lost $30 billion in two days -
Fist bank Panic
The first bank panic ensues causing bankruptcies -
2nd bank panic
Another bank panic occurs, mean while, no new major legislation is passed concerning the great depression. -
100,000 total banks have failed
100,000 banks have failed since 1929, crippling the economy. -
Unemployment Hits 25 Percent
Unemployment sky rockets to an unbelievable 25 Percent average for the year. -
The New Deal Begins
President Roosevelt begins to implement the new deal, this began to help the economy, it implemented things like minimum wage and maximum work week, and child labor laws, and unemployment compensation. As well as agricultural loans, civilian conservation corps were formed, and bank reform was put into action. -
Germany Recovers
Germany's war preparations and Heavy deficit spending finally pulls Germany out of it's depression -
Agricultural adjustment act
The agricultural adjustment act established a minimum wage and maximum work week -
World War II Begins
When World War II hit, it pulled the vast majority of the world out of the Great Depression through all of the government spending on the war.
