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The Wall Street Crash Sparks the Depression
There was a sharp decline in the Unites States stock market values. Billion dollars were lost.
Herbert Hoover takes office as the President of the United States.
Hoover believed in capitalism and assumed that the great depression would be over quickly. -
The Dust Bowls Begin
1.5 million people had been unemployed.
President Hoovers signs a Smooth Hawley Tariff Act- this was meant to help farmers but ended up causing many other problems.
The dust bowl was the worst drought in 300 years affecting 23 states. -
Food Riots and Banks Collapse
Food riots Beagan in Minneapolis as many people struggled for food. Many were breaking into grocery stores and stealing food.
The largest bank failure in history occurred with the Bank of the United States - losing more $200 million dollars. -
President Roosevelt is Elected
Franklin D. Roosevelt becomes president and gives his New Deal speech to help recovery the economy. -
The First Hundred Days
Roosevelt begins his hundred days of being in office.
15 laws have been introduced to tackle the Great Depression.
Roosevelt closes all banks- known as the "bank holiday."
Roosevelt begins his "fireside chats" broadcast. -
New Deal Programs
Roosevelt has been elected for a second term as president.
New Deal programs helped the economy, and the $5 million-dollar relief program was enacted which grew the economy by 5.1%. -
Economy Growth
The economy grew, which helped bring the United States out of the Great Depression.