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Herbert Hoover elected
He was 31st president of US. He is president during stick crash and Great Depression begins.His laissez-faire economic policies did little to stop the depression. -
The stock crash
Black Thursday kicked off the stock market crash of 1929. that day the stock went down, lost money about 16.4 million dollars. signature sign of the beginning of Great Depression. -
Bank Failures
throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. -
The Dust bowl
A drought hit 23 states from the Mississippi River to mid-Atlantic region It was the first of what was later called the Dust Bowl drought, the worst in 300 years. As crops failed, farmers could not produce enough to eat. At first, President Hoover asked the Red Cross to help. As the crisis worsened, Congress appropriated $65 million for seed, feed, and food boxes. -
Smooth-Hawley Tariff Act
Hoover signed the Smoot-Hawley Tariff Act. It raised taxes on 900 imports. It originally was supposed to help farmers but ended up imposing tariffs on hundreds of other products. Other countries retaliated, setting off a trade war. As a result, international trade began to collapse. -
FDR became President
Franklin Delano Roosevelt took office. He launched the New Deal on March 9 with the Emergency Banking Act. It closed all U.S. banks to stop devastating failures. He a hope of All Americans to get out of great Depression and he succeed. -
Social security Act
The Social Security Act provided income to the elderly, the blind, the disabled, and children in low-income families. It was paid for with payroll taxes and the Social Security Trust Fund. -
Created a work
The Emergency Relief Appropriation created the Works Progress Administration to hire 8.5 million people. -
Emergency Relief Appropriation
The Emergency Relief Appropriation created the Works Progress Administration to hire 8.5 million people. -
Second Term with FDR
FDR began his second term. The Wagner-Steagall Act funded state-run public housing projects. The Bonneville Power Administration delivered and sold power from the Bonneville Dam. The Farm Tenancy Act provided loans for tenant farmers to buy farms. The Farm Security Administration replaced the Resettlement Administration.
But FDR cut spending to reduce the debt. That cutback in New Deal spending pushed the economy back into the Depression. -
Great depression war over
The economic stared grow again
