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Depression of 1920–1921
Sharp deflationary recession, stock market fell by nearly 50%, and corporate profits declined over 90% -
Johnson–Reed Act;
Immigration act to limit immigration from countries such as Africa, Asia, and the Middle East. This limited available workers but gave more jobs to American workers. (affected employment) -
Stock Market Crash of 1929
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Banks began to fail
The Smoot-Hawley Tariff Act is passed. This was a law that applied protectionist trade policies in the United States. The law restricted imports from other countries, and reduced the amount of America’s trading partners. Many economists say this act contributed to the Great Depression. -
Food Riots
Food riots begin to break out in parts of the US. In Minneapolis, a mob of men and women smashed the windows of a grocery store. -
The "First One Hundred Days" of Roosevelt's presidency begins.
Roosevelt starts working to redistribute wealth from the rich to the poor, much to the chagrin of a group of millionaire businessmen, who try (and fail) to overthrow the government. Over 15 new laws are quickly enacted to fight the Great Depression. Some of these laws include the Agricultural Adjustment Administration, Emergency Banking Bill, National Industrial Recovery Act, Public Works Administration, and the Federal Emergency Relief Administration.