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The Stock Market Crash
Many people depended on their wealth on the stock market and playing with stocks. When the numbers all fell at a alarming, broking rate, the rich went poor, and the poor went poorer. -
First Bank Panic
The first bank panic ensues causeing bankruptcies. This especially marked the start of the Great Depression. -
Smoot-Hawley Tariff
Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. -
100,000 Banks Failed
100,000 banks have failed since 1929, crippling the economy. -
Unemployment HIts 25%
Due to the Market Crash, by 1933 unemployment skyrocketed and reached a shocking 25%. -
The New Deal
President Roosevelt begins to start the new deal, this began to help the economy, it created things like minimum wage and maximum work week, and child labor laws, and unemployment compensation. As well as agricultural loans, civilian constervation corps were formed, and bank reform was put into action. -
Franklin D. Roosevelt become President
In 1933 this Roosevelt won the election to become President. -
Agricultural adjustment act
The agricultural adjustment act established a minimum wage and maximum work week -
End of Depression
The start of WW2 ended the depression.
