Great Depression timeline

By mayessa
  • Period: to

    the great depression

  • STOCK MARKET CRASH

    Wall street stock market crash,

  • Federal reserve cut rate

    Federal reserve cut rate from 6 to 4 percent

  • Smoot-Hawley Tariff

    Smoot-Hawley Tariff passed on June 17, 1930.
    Imports form only 6 percent of the GNP, the 40 percent tariffs work out to an effective tax of only 2.4 percent per citizen.

  • Unemployment raises

    GNP falls 9.7 percent from 1929. Unemployment raises from 3.2 to 8.7%.

  • GNP falls more

    Over th year of 1931 GNP falls 8.9%, unemployment raises to 15.7%.

  • 1932

    Over the year of 1932, the GNP falls a record 13.4%, unemployment rises to 23.6%. Industrial stocks have lost 80% of their value since 1930. 10,000 banks have failed since 1929, or 40% of the total since 1929. The GNP has fallen 31% since 1929. International trade has fallen by two thirds since 1929. Hoover loses to FDR in fall election.

  • FDR inaugurated

    Hoover loses to FDR. Franklin Deleanor Roosevelt is inaugurated into office, beginning the first "100 days".

  • Third banking crisis

    The Third banking crisis occurs, FDR declares national banking holiday.

  • Over the year of 1933

    Congress authorizes creation of the Agricultural Adjustment Administration, the Civilian Conservation Corps, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the Federal Emergency Relief Administration, the National Recovery Administration, the Public Works Administration and the Tennessee Valley Authority. And The free fall of the GNP is significantly slowed; it dips only 2.1 percent this year. Unemployment rises slightly, to 24.9 percent.

  • Over the year 1934

    Congress authorizes creation of the Federal Communications Commission, the National Mediation Board and the Securities and Exchange Commission. GNP rises 7.7 percent, and unemployment falls to 21.7 percent.

  • The Supreme Court declares the National Recovery Administration to be unconstitutional

    The Supreme Court declares the National Recovery Administration to be unconstitutional because it attempted to regulate commerce that was not interstate in character.

  • Over the year 1935

    Congress passes the Banking Act of 1935, the Emergency Relief Appropriation Act, the National Labor Relations Act, and the Social Security Act. Congress also authorizes creation of the Works Progress Administration, the National Labor Relations Board and the Rural Electrification Administration. The GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.

  • Over the year 1936

    GNP grows a record 14.1 percent; unemployment falls to 16.9 percent, tax rate is increased to 79%.

  • Over the year 1937

    A recession hits, blamed partly on spending cuts for the goverment. despite that, the yearly GNP rises 5.0 percent, and unemployment falls to 14.3 percent.

  • Over the year 1938

    The recession makes itself felt: the GNP falls 4.5 percent, and unemployment rises to 19.0 percent.

  • Over the year 1939

    The United States begins emerging from the Depression as it borrows and spends $1 billion to build up its milatary. From 1939 to 1941, when the Japanese attack Pearl Harbor, U.S. manufacturing will have shot up a 50 percent.

  • Attack on Pearl Harbor

    Japanese attack on pearl harbor causes america to enter World War 2. This increases production of milatary needs, creating more jobs, helping left us out of the depression.

  • Over the year 1945

    the United States emerges as the world's only economic superpower, after world war 2 ends. Thus ending the depression Deficit spending has resulted in a national debt 123 percent the size of the GDP.