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Smoot-Hawley Tariff Act
The Smoot-Hawley Tariff Act is signed by President Herbert Hoover. Its effective rate hikes would slash world trade. -
Public Works Project
In order to combat the growing depression, President Herbert Hoover asks the U.S. Congress to pass a $150 million public works project to increase employment and economic activity. On the New York City docks, out of work men wait for food and jobs during the Great Depression, an outcome of the Stock Market crash of 1929 after the prosperous decade of the 1920's. -
Reconstruction Finanace Corporation
The Reconstruction Finance Corporation is established to stimulate banking and business. Unemployment in 1932 reached twelve million workers. -
FDR WIns Election
Democratic challenger Franklin D. Roosevelt defeats President Hoover in the presidential election for his first of an unprecedented four terms. The landslide victory, 472 Electoral College votes to 59 for Hoover began the era of FDR that would lead the nation through the hardships of the Great Depression and the worst of World War II. -
New Deal
The New Deal social and economic programs are passed by the United States Congress in a special one hundred day session to address depression era economics. The gold standard was dropped on April 19 and ratified during the time of this session on June 5. Canada also drops using the gold standard. -
Federal Unemployement Relief Act
The Civilian Conservation Corps is authorized under the Federal Unemployment Relief Act. It would provide work for two and one-half million men during the succeeding nine years and help construct many national park and other projects across the United States. -
21st Amendment
The 21st Amendment to the U.S. Constitution is passed, ending prohibition. -
Social Security Act
The Social Security Act is passed by Congress as part of the New Deal legislation and signed into law by President Franklin D. Roosevelt. It would begin payouts to retirees within two years. Workers began contributing into the system during the same year, at a rate of 2% of the first $3,000 in earnings, half paid by the employee and half paid by the employer. -
Natinonal Minimum Wage
The National Minimum Wage is signed into law within the federal legislation known as the Fair Labor Standards Act. It established a minimum wage of $0.25 at the time, as well as time and one half for overtime and the prohibition of most employment for minors. -
Begininng of World War II
The United States declares its neutrality in the European war after Germany invaded Poland, effectively beginning World War II after a year of European attempts to appease Hitler and the aims of expansionist Nazi Germany.