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Herbert Hoover's Presidency
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Crash of The Stock Market
The Great Depression begins with the crash of the stock market. The market lost about $30 billion in two days. -
The First Bank Panic
Bank failures from agricultural areas sparked panic among depositors, so people withdrew their funds from the bank at a very high rate, causing an economic crisis. -
Smoot-Hawley Tariff
The act raised tariffs on over 200,000 goods and the rates were the second highest in the U.S. in over 100 years. -
New York's Bank Closes
New York's Bank of the United States collapsed. The bank had more than $200 million in deposits at the time, making it the largest single bank failure in American history. -
A Total of 100,000 Banks Have Failed
100,000 banks have failed since 1929, resulting in dire economic consequences. -
12 Million Unemployed Americans
The unemployed would stand in bread lines for food and drink. -
Hitler's Rise To Power
Hitler has been appointed to Chancellor and the Reichstag had just adopted the Enabling Act (the amendment to Germany's constitution, giving Chancellor Adolf Hitler the power to enact laws without the involvement of the German parliament) -
The New Deal
Roosevelt signed The New Deal, which included maximum work hours, minimum wage, child labor laws, and unemployment compensation. -
President Franklin D. Roosevelt's Inauguration
FDR became the president of the United States of America. -
Period: to
Franklin D Roosevelt's Presidency
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National Bank Holiday
On March 6 Franklin D Roosevelt (the president) declared a four day banking holiday that kept all banks shut until Congress could come up with a way to end the banking crisis. -
Agricultural Adjustment Act
A United States federal law was passed which reduced agricultural production by paying farmers subsidies not to plant on part of their land and to kill off excess livestock. Its purpose was to reduce crop surplus and therefore effectively raise the value of crops. -
Federal Deposit Insurance Corporation
United States government corporation providing deposit insurance to depositors in US banks. Its purpose was to restore trust in the American banking system; more than one-third of banks failed during the Great Depression. -
Works Progress Administration Began
Offered Public Work Projects to the unemployed and unskilled man that employed literary projects to increase the happiness of the American People along with manual labor projects to build infrastructure for the country. -
The National Youth Administration Began
It was a recovery program designed for non-educated, young, unemployed Americans. College students were paid for "work study" projects at their school, and selected families with young children were paid for part time work and job training. -
Social Security Act
A centralized savings account for all Americans to care for the elderly (in the form of retirement funds), unemployed, and children. This came from the Second New Deal and is still around today. -
Roosevelt is Re-elected
Franklin D Roosevelt is elected for yet another term -
The Fair Labor Standards Act
Also referred to as the Wages and Hours Bill, and is a federal statute of the United States.The FLSA introduced the forty-hour work week, established a national minimum wage, guaranteed time-and-a-half for overtime in certain jobs, and prohibited most employment of minors in "oppressive child labor". It applies to employees engaged in interstate commerce or employed by an enterprise engaged in commerce or in the production of goods for commerce. -
World War II Begins
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End Of The Depression
The Great Depression is finally over, with the help of World War Two. -
The United States Enters WWII
After Pearl Harbor is attacked by the Japanese, the United States joins the war.
