-
Roosevelt was inaugurated; 'First 100 Days' begin; of a very intensive legislative activity.
-
A long road to recovery begins. The economy turns around finally: GNP rises 7.7 percent, and unemployment falls to 21.7 percent.
-
The Supreme Court declares the National Recovery Administration to be unconstitutional.
-
Top tax rate raised to 79 percent.
-
The National Labor Relations Board to be unconstitutional declares the Supreme Court.
-
Due to Roosevelt's weakened political power, no major New Deal legislation is passed after this date.
-
The GNP falls 4.5 percent, and unemployment rises to 19.0 percent, the year-long recession makes itself felt.
-
World War II started with Hitler's invasion of Poland.