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The American Stock Market collapses starting in September and ending in late October.
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A law that implemented protectionist trade policies in the United States. This tariff affects Europe more than the United States.
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New York’s Bank of the United States collapses. $200 million in deposits disappears in the largest bank failure in American History.
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Franklin D. Roosevelt beats Herbert Hoover to win the President of the United States.
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Dr. Francis Townsend sends a letter to the Long Beach Press-Telegraph proposing state funded pensions for the elderly to boost consumption and employment.
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Franklin D. Roosevelt gets inaugurated as the 32nd President of the United States.
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Dr. Francis Townsend formally incorporates Old Age revolving pensions.
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More than 5,000 Townsend Clubs nationwide together to represent more than 2 million members.
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Huey Long’s Share Our Wealth society has expanded to 27,000 club nationwide, with a mailing list of 7.5 million Americans.
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Huey Long is assassinated inside the Louisiana Capitol Building.
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Franklin D. Roosevelt is re-elected as President of the United States. He won in every state but Maine and Vermont
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The Japanese attack on Pearl Harbor draws United States into World War II. Mobilization for war finally lifts the American economy permanently out of
the Great Depression.
