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Stock market crashed, Black Tuesday
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Severe drought and Dust Bowl conditions began to ruin farmers’ land, a condition that lasted until 1935.
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Food riots broke out, workers marched on Detroit, and “foreign workers” were deported
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Congress established the Reconstruction Finance Corporation to lend $2 billion to banks, insurance companies, building and loan associations, and farming organizations
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Stocks reached their lowest point
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Franklin D. Roosevelt beat Herbert Hoover in a landslide
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Franklin D. Roosevelt took office
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Roosevelt announced a three-day “bank holiday” to prevent a third run on banks and to shore up the banking system
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The Civil Works Administration (CWA) was established to employ up to 4 million people on public works projects
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The Work Projects Administration (WPA) was formed to employ up to 8.5 million people on public works projects across the country
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The Social Security Act was signed into law, financed through payroll taxes
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FDR was elected to a second term as president
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FDR asked Congress for an additional $3.75 billion to stimulate the still floundering economy
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FDR was elected to a third term as president
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Preparations for World War II stimulated the American economy and effectively brought an end to the Great Depression
