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Brazil Creates São Paulo Institute for Permanent Defense of Coffee
Brazil uses the Institute to go through a process of valorization. This helped Brazil keep the prices of its main export high. The institute bought coffee using loans and taxes. However, when the depression hit, this Institute was a factor in Brazil's sky high debt going into the depression and coffee prices began a rapid decline in May of 1929. -
Stock Market Crash of 1929
The Stock Market Crash of 1929 was the worst stock market crash in American history. It came at the end of a decade of prosperity in America, and this crash signaled the start of the Great Depression, that affected nations all over the world. -
Hawley-Smoot Tariff Comes Into Effect
The Hawley-Smoot Tariff was a factor in the Depression spreading around the world. This tariff raised prices on foreign goods to historically high levels, which caused other countries affected to retaliate and make tariffs of their own. This limited trade between countries. -
RB Bennett Wins 1930 Canadian Election
RB Bennett defeats Mackenzie King for the position of Prime Minister of Canada. However, the economy really struggled under Bennett and King would win the next election to regain position of Prime Minister. -
Getulio Vargas Takes Power in Brazil
Vargas would being the first of 15 years as dictator of Brazil. He takes over during the depression. During this time, he introduces ISI to strengthen Brazilian industry as well as reduce foreign dependence. He would be elected democratically in later years post depression. -
Latin American Countries Implement ISI
Import Substitution Industrialization was used by Latin American countries to keep economies moving even when other countries wouldn't buy their exports. This policy was liked by Vargas and the Concordancia as it allowed their nations to industrialize and it reduced foreign reliance during the Great Depression. -
RB Bennett Raises Tariffs by 50%
RB Bennett decided that raising tariffs would be a way to develop a "relief system" during the Great Depression. This relief system consisted of labor camps for unemployed men, which were really considered slave camps to many. -
Americans Go On Bank Runs
A bank run is a time where people who put their money in banks run to the bank in order to withdraw all their money. This is typically parked by a rumor that a bank may fail and thus, thousands of people will rush to the bank. These situations cause bank failures. -
Concordancia in Argentina Begins
This date marks the day that Augustin Justo became "president" of Argentina, which began the reign of the Concordancia in Argentina. This was the alliance between Justo, Roberto Ortiz, and Ramon Castillo. This lasted until 1943, when another coup overthrew the Concordancia and another dictatorship was established which lasted until the 80's. -
Bonus Army Marches Into Washington
This is when WWI veterans marched to Washington to demand their money from the government for fighting in WWI. Many of these war veterans had been out of work since the war ended and were desperately looking for some money in hard times. -
First inauguration of Franklin D. Roosevelt
FDR replaces Herbert Hoover as President of the United States. FDR brought hope to the people of the United States to lead the US out of the Great Depression. Differing from Hoover, FDR believed in government intervention and legislation to lead the US out of the economic crisis. -
FDR's First Fireside Chat
FDR has his first Fireside Chat. These speeches by FDR were broadcasted through radio as he informed America on the state of the economy and what the government is doing to fix it. These chats gave American's the sense that they were closer to the presidency than ever. -
Roca-Runciman Pact Signed
The Roca-Runciman Pact was signed between the UK and Argentina. The goal was to increase trade with the UK in order to help Argentina get out of the Great Depression. -
Dust Bowl
The Dust Bowl was a series of dust storms that destroyed praries in the US. These storms wrecked agriculture and caused farmers to migrate to the west, where they still struggled to find jobs. -
Regina Riots
This was a clash between On to Ottawa protesters and police in the city of Regina, Saskatchewan. The police tried to thwart the protesters march on to the Canadian capital to show their displeasure with the harsh labor camps and the government in general. -
Huey Long Assassinated
Huey Long was gaining a large following before his assassination. He believed in sharing the wealth, or taking money from the rich and redistributing it across society. This idea caught traction from many struggling Americans. -
Mackenzie King Wins 1935 Canadian Election
Canadians showed their displeasure with RB Bennett in the 1935 election as Mackenzie King won back the prime minister position. In his second tenure, Mackenzie King would create unemployment insurance, gave family allowances, and also led Canada through WWII. -
Hoover Dam Completed and Turned Over to US Government
The Boulder Dam, now known as the Hoover Dam, was turned over 2 years ahead of schedule to the US government. This dam is one of the public works projects in the US that aimed to help create jobs. This dam is a major power source to states such as California, Arizona, and Nevada. -
FDR Tries to Pack the Court
A lot of FDR's New Deal Legislation was getting blocked by the Supreme Court. Thus, FDR wanted to appoint 6 new justice in order to tip the court in his favor. However, this caused Democrats to vote down his legislation and was a taint to his legacy. -
Teddy Roosevelt's Face on Mount Rushmore Dedicated
Teddy Roosevelt was the final face of the 4 presidents to be dedicated on Mount Rushmore. Mount Rushmore was a notable public works project designed to give people jobs while honoring major presidents in the first 130 years of US history. -
Montreal Goes Bankrupt
In 1940, the city of Montreal went bankrupt. This signifies the toll that the depression had on Canada, as Montreal is one of the largest and most important cities in the country. This also helped show that the economic burden was disproportionately placed on the local governments.
