1929 - 1939

  • 1929

    1929
    Black Thursday. Kicked off stock market crash.
  • 1929 - 1938

    1929 - 1938
    The Great Depression. Economy started to shrink because low wages, growth of debt, and too much of large bank loans that could not be liquidated.
  • 1930

    1930
    Smoot - hawley Tariff Act. Raised import tariffs and arguably worsened the Great Depression.
  • 1931

    1931
    Food riots broke out in Minneapolis. The drought continued, hitting eight Southern states the worst.
  • 1933

    1933
    FDR took office. Franklin Delano Roosevelt launched the new deal with the Emergency Banking Act. It closed all U.S. banks.
  • 1938

    1938
    Economy started to grow again ad the Great Depression was over.
  • 1939

    1939
    The economy grew 8%, unemployment fell to 17.2%. The debt rose to $40 billion.