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The Great Depression
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The stock market crashed
October 29th 1929 was the most devestating stock market crash in the history of the United States. This day was called "Black Tuesday." This crash singnled the beginning of the 10 year Great Depression. On October about sixteen million shares were traded. This was a record that was not broken for nearly 40 years. The market had lost over $30 billion in the space of two days. That included $14 billion on October 29th alone. -
3.2 million unemployed
March 1930, 3.2 million citizens lost their jobs, due to the stock market crash in 1929. This made businesses lose money and they couldn't afford to pay workers. This led to a ton of workers to get layed off and not get paid. -
apple sellers
November 1930, those people who lost their jobs and didnt have a good income met on the streets and sold apples on the corners. They would sell apples for 5 cents a piece cause thats all they could do to get an income. -
"bonus" funds
43,000 marchers assembled in Washington D.C. That were veterans, families, and affiliated groups all because of bonus funds. This bill was passed in 1924. This allowed "bonus" funds to vetterans of WWI it pretty much gave them 1 dollar a day of service on the U.S. and 1.25 for overseas. This would cost the Treasury 4 billion. -
"Food Riots"
The food riot occured when the business made too much food at first and no one bought them. They went bad and then the business didnt have enough money to hire workers or make food. The food riot was when there wasnt enough food made to feed all of the people to their wants. -
New York's Bank of the United States collapses
The bank was founded by Joseph S. Marcus. The bank has over $200 million dollars in deposits. This was the largest single bank failure. -
New Yorkers
More than 750,000 New Yorkers are dependant on city relief. An another additional 160,000 on a waiting list. Teh expensise are on an adverage of about $8.20 per month for each person on relief. -
"Bonus Bill"
43,000 veterans and their families came to Washington. The veternarans would receive 1 dollar for working in the US and 1 dollar and 25 cents for working overseas. -
Reconstruction Finance Corporation
The Reconstruction Finance Corporation (RFC) was an independent agency of the United States government. The agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, mortgage associations and other businesses. The Reconstruction Finance Corporation spent $1.5 billion in 1932, $1.8 billion in 1933, and $1.8 billion in 1934 -
New President
Fraklin Delano Roosevelt became president. In a ladslide vote over Herbert Hoover. Roosevelt received 22.8 million popular votes and Hoover only received 15.75 -
FDR is inaugurated
Franklin Delano Roosevelt was elected in a landslide over Herbert Hoover. herbert Hoover had 15,758,901 votes and FDR had 22,809,638. Before a crowd of 100,000 people Franklin Delano Roosevelt was inagurated. -
CCC is established
The CCC stands for Civilian Conservation Corps. This was a public work relief program. It was for the unemployed and unmarried men from relief families. In nine years 3 million young men participated in the CCC. The CCC provided them with shelter, clothing, and food. They also got a wage of 30 dollars a month. 25 dollars of the 30 had to be sent home to their family though. -
Civil Works Administration established
Civil Works Administration was a job creation program.They were temporary and were for the harsh winter of 1933-1934.The CWA was a project created under the Federal Emergency Relief Administration. It ended on March 31, 1934, after spending $200 million a month and giving jobs to 4 million people. -
Dust Storm
May 1934 was one of the worst dust storms of the time. Dust would be picked up and flung around and would blow through windows and cause respitory problems. The houses where not built well enough to keep all of the dust out. When the dust storms where over the cars where covered with sand and most people moved to more fertile land. -
Works Progress Administration created
The program employed more than 8.5 million individuals in 3,00 countries. across the nation. The individuals drawing in a salary of only $41.57 a month will improve or create highways, bridges, and airports. -
National Youth Administration
This administration provided work and education for Americans. That were between the ages of 16-25. The youth got 6-40 dollars for "work study" projects in their school. I was kind of confused about this. If we are in the middle of the Great Depression and we have no money then why are we paying kids to go to school. I think that kids shouldn't get paid to go to school they have the option already but there reward should be they have a higher education instead of more money. -
Social Security Act
This act was signed into law by FDR Historian Kenneth S. DAvis calls the signing of the act "one major turning points of American Histroy." This is something that we also use and have today. -
"Roosevelt Recession"
This was an economic downturn that occured during the Great Depression. Production, profits, adn wages had regained. But unemployment remained high. It was slightly lower than the 25% rate seen in 1933. -
Federal Spending
FDR asked Congress to authorize $3.75 billion in federal spending. In the next few months economic indicators respond favorably. But unemployment still remains high. -
Franklin Roosevelt Elected
Franklin Roosevelt was elected for his third term. He was competing against Wendell Willkie. FDR had 449 electoral votes and Willkie had 82. FDR was also was a Democrat. Henry A. Wallace.
