-
Hoover is elected as the 31st president of the United States. His decisions epically worsened the economy.
-
The stock market starts to plunge drastically soon leaving the U.S. in a horrible economy.
-
Investors traded millions of shares in a single day. Creating the longest lasting economic stress in the history of the Western industrialized world at the time. The causes of this was low wages, large bank loans and increases in debt.
-
WWI veterans marched to Washington to demand that they be given their pay, but Hoover decides to use force to remove them.
-
During Roosevelts first term as president he passed 15 bills. The Emergency Banking Act, closed every bank. The Government Economy Act, cut government spending. Beer-Wine Revenue Act ended prohibition and taxed alcohol, Federal Emergency Relief Act created more jobs. Agricultural Adjustment Act paid farmers to limit crops, Emergency Farm mortgage Act provided loans to farmers. Tennessee Valley Authority Act built power stations, and Securities Act require companies to educate investors.
-
FDR takes office as the 32nd president of the United States. He would soon turn the tide of the Great Depression.
-
The goal of this was relief, recovery and reform. The purpose that this was put in was to end the Great Depression, to do this FDR launched the Emergency Banking Act.
-
Recorded as one of the worst dust storms, in response FDR passed the Soil Conservation Act, to teach farmers sustainable methods.
-
FDR began his second term, launching another New Deal. Passed the Wagner- Steagall Act, funded state-run public house projects, The Farm tenancy Act, provided loans for tenant farmers and Fair Labor Standards Act, established a minimum wage, overtime pay and young employment standards. Many administrations were inputted such as the Farm Security administration, replaced the resettlement administration, and the Bonneville power Administration.
-
Forced many banks out of business and to write down their real estate as values fell. This new rule allowed them to keep these assets in their books at historical prices.
-
The Federal Security Agency was launched to administer Social Security, federal education funding, and food and drug safety.
-
Economy starts to grow. but it wont be until the end of WWII that the Great Depression is truly over.
