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Bank Faliures
A series of banks(at least 650 by then) closing on their customers inflated the market, causing the value of the dollar to decrease. Prices fell, and debts increased in value, making it harder to pay back money. -
Black Thursday, Black Monday, and Black Tuesday
A series of events leading to a 36% fall in the value of American Stock and overall the crash of the stock market. This was mostly due to overspending by the American people after the Allies' victory in WWI. -
Period: to
The Great Depression
A brief compilation of the vivid but barren history of a period of financial drought in post WWI, pre-WWII America. -
Farming Issues
With Hoover's Smoot-Hawley Tariff Act, farming in South and West America was hindered, even in its already drought-devastated state, instead of the promised help by Hoover that it would help. Other countries stand that it was unjust led to cutting of international trade relations, crushing America's economy further. -
Food Riots
In the city of Minneapolis, food riots, in which impoverished people would break into grocery stores and steal food in mass numbers -
Leaving the Gold Standard
As Franklin Delano Roosevelt took the office of the presidency, he promptly abandoned the Gold Standard. The Gold Standard is way in which the amount of gold in the U.S. treasury is what determines how much currency is worth and how much it is produced (A direct relationship). -
Summer Heat Wave
With the drought in the Southern and Western U.S. came the hottest heat wave the nation had ever seen, directly killing more than 1,500 people by August 1936. -
The End
A steady growth in the economy signaled the much needed, although fairly temporary, end to the Great Depression
