Great Depression Causes and Effects

Armistice Day - World War I Ends

Nov 11, 1918

Woodrow Wilson Presidency

Period: Nov 11, 1918 to Mar 4, 1921

Great Migration

Period: Feb 28, 1919 to Feb 28, 1925

Movement of African-Americans to northern cities for job opportunities

Warren Harding Presidency

Period: Mar 4, 1921 to Aug 23, 1923

Calvin Coolidge Presidency

Period: Aug 23, 1923 to Mar 4, 1929

McNary-Haugen Act

Period: Feb 28, 1924 to Dec 28, 1928

Attempt to set price controls on farm products, never passed, vetoed by Coolidge

Automobile sales fall by 1/3 in 9 months

Feb 28, 1929

Farm Income Declines

Period: Feb 28, 1929 to Dec 28, 1932

Farm incomes decline by 60% and 1/3 of farmers lose their land

Herbert Hoover Presidency

Period: Mar 4, 1929 to Mar 4, 1933

Price of Stocks increases over 40%

Sep 28, 1929

Stock Market begins slide

Oct 22, 1929

Foreshadows Black Tuesday, investors and public begin to panic

"Black Tuesday" Stock Market Crash

Oct 29, 1929

Hoover asks business leaders for voluntary cooperation

Feb 28, 1930

Don't cut jobs, keep production. Doesn't work

Dust Bowl

Period: Feb 28, 1930 to Dec 28, 1939

Great Plains hit by massive drought, dust storms, lots of people move out of Plains (called "Okies")

Total Money Supply drops by 1/3

Period: Feb 28, 1930 to Dec 28, 1933

European economies collapse

Feb 28, 1931

Reconstruction Finance Corporation started

Jan 28, 1932

Attempt by the Hoover Administration. Intended to provide loans to railroads, businesses, and banks in financial trouble.

Hoover proposes tax increase

Feb 28, 1932

Tries to avoid massive budget deficit

1/2 of southern blacks unemployed

Feb 28, 1932

Unemployment rises dramatically

Feb 28, 1932

Many cities experience unemployment at 50% or greater. Ohio especially hard hit

WWI Vets demand bonus

Jul 28, 1932

Veterans promised a $1000, demand immediate payment, march on Washington, are put down by Army under command of Gen. D. MacArthur

FDR elected

Nov 6, 1932

Promises a "New Deal" and to take action to relieve the problems caused by the Depression

Franklin D. Roosevelt Presidency

Period: Mar 4, 1933 to Dec 7, 1941

Pearl Harbor Attacked

Dec 7, 1941

U.S. Enters World War II