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Stock Market Crash of 1929
The stock market crash on Black Thursday, October 24, 1929, marked the beginning of a catastrophic decline in the U.S. stock market, leading to a worldwide depression. -
Banking panics
Banking panics in the early 1930s caused many banks to fail, decreasing the pool of money available for loans. -
Smoot-Hawley Tariff Act (1930)
The U.S. enacted the Smoot-Hawley Tariff Act in 1930, which raised import duties and led to retaliatory measures from other countries, reducing global trade. -
Drought in the Great Plains
A severe drought began in the early 1930s and lasted several years, turning the Great Plains into the Dust Bowl. -
Election of Franklin D. Roosevelt (1932)
Franklin Delano Roosevelt defeated Herbert Hoover in the 1932 presidential election, promising a "new deal" for the "forgotten man". -
Creation of the Reconstruction Finance Corporation (RFC)
In 1932, the RFC was established to help banks and industries recover. -
The New Deal
Between 1933 and 1939, President Franklin D. Roosevelt's New Deal domestic program took action to bring about immediate economic relief as well as reforms in industry, agriculture, finance, waterpower, labor, and housing, vastly increasing the scope of the federal government’s activities. -
Dust Bowl "Black Blizzards"
Exposed topsoil, robbed of its native grasses, was carried off by heavy spring winds, creating "black blizzards" of windblown soil that blocked out the sun. Studies estimate that approximately 1.2 billion tons of soil were lost across 100 million acres of the Great Plains between 1934 and 1935. -
Mass Migration from the Dust Bowl
Thousands of families were forced to leave the Dust Bowl due to the severe conditions. Many migrated to California in search of work. -
Implementation of the New Deal Programs
New Deal programs such as the WPA and CCC were established to provide jobs and relief. The WPA gave jobs to 8.5 million people and constructed numerous infrastructure projects, while the CCC focused on national conservation work.