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The U.S. stock market crashed in a catastrophic economic disaster. The total losses for the month of October reach $16 billion.
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A severe drought started in the Great Plains area ruining millions of farmers. The condition lasted until 1935.
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The Bank of the United States in New York collapsed. It had more than $200 million in deposits and represents the largest single bank failure in the nation's history.
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The Reconstruction Finance Corporation began lending money to states. The funding is used for relief and public works projects
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Roosevelt sworn in as president.
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The Work Progress Administration (WPA) was established and employed up to 8.5 million people on public works and arts projects. These workers earned $41.57 per month.
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Preparations for World War II stimulated the American economy, helping to bring an end to the Great Depression.
