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The sales increased leading up to the crash along with some high trading periods. The difference in the trading and selling made the market unstable.
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Congress passes the Smoot-Hawley Tariff, raising import duties to protect American manufactures from foreign competition. Effects Europes economy in a negative way.
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New York's Bank of the United States collapses in the largest bank failure to date in American history.
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Democrat Franklin D. Roosevelt defeats Republican President Herbert Hoover in a landslide to win the presidency.
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Unemployment averages 24.9% for the year. This is a very high rate and is one of the highest ever recorded.
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"Radio Priest" Charles Coughlin's weekly broadcast draws an average of 30-45 million listeners. This si an example of how powerful the mass media could be. Also how people kept their faith even when the times were tough.
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Dr. Francis Townsend sends a letter to the Long Beach Press-Telegram proposing state-funded pensions for the elderly to boost consumption and employment.
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Franklin D. Roosevelt is elected to a second term as president, winning over Republican Alf Landon.