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Period: to
Great Depression
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Black Thursday
Black Thursday marked the beginning of the worst stock market crash in U.S. history. On October 24th, 1929, the Dow Jones Industrial Average opened at 305.85. It fell 11% during intra-day trading, but closed just 2% down, at 299.47% by the end of the day. After the crash the Dow continued to slide for 3 more years. -
Unemployment rises
More than 3.2 million people are unemployed, More than 1.5 million before the crash in October. The unemployment rate averaged at 8.9 percent in 1930. President Hoover remains optimistic, stating "all the evidences indicate that the worst effects of the crash upon unemployment will have passed during the next 60 days." -
Smoot- Hawley Tariff
Congress passes the Smoot-Hawley Tariff, steeply raising import duties. This was an attempt to protect American manufactures from foreign competition. The tariff increase had little impact on the American economy, but drove Europe farther into crisis. -
Food Riots
"Food riots" began to break out in parts of the U.S. In Minneapolis, several hundred men and women smashed the windows of a grocery market and made off with fruit, canned goods, bacon, and ham. The "riot" was brought under control by 100 policemen and seven people are arrested. -
Bonus Army
Determined to collect their "bonus" pay for service, 15,000 - 25,000 World War I veterans gathed and began setting up encampments near the White House and the Capitol. The vets maintained their determination to stay camped out until they got their pay. Some "bonus Army" members resisted being moved from their camps. Soon violence erupted, leading to the deaths of two veterans. Hoover ordered Federal troops to assist D.C. police in clearing the veterans. -
CCC is Established
The Civilian Conservation Corps (CCC) is established. Designed as a relief and employment program for young men between the ages of 17 and 27, the CCC was made up of groups of young men who worked in national forests, parks, and federal land for nine-month periods. At its peak in 1935, the CCC incuded 500,000 young men. -
The Federal Emergency Relief Administration
The Federal Emergency Relief Administration wa created by Congress. President Franklin Roosevelt appointed Harry L. Hopkins as its chief administrator. By the end of his first day on the job, Hopkins issued grants totaling more than $5 million. Hopkins was a believer in relief efforts that emphasized work. The program also funded public work projects. Over the following two years a total of $3 billion was distributed. -
Dust Storm
A three-day dust storm blew an estimated 350 million tons of soil off of the terrain of the West and Southwest and deposited it as far east as New York and Boston. Some east coast cities were forced to ignite street lamps during the day to see through the blowing dust. -
Dorothea Lange Photographs Depression
Photographer Dorothea Lange visited a pea-pickers' camp in California's San Joaquin Valley. She took photographs of harvest workers. The images, especially those in the "Migrant Mother Series," vividly illustrated the struggle of the workers. These photos enlightened America on the harsh life many faced. -
End of Depression
After the bombing of Pearl Harbor, the United States enters World War II. As the country begins to mobilize, the economy is jumpstarted. This essentially leads to the end of the Great Depression.
