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Great Depression Starts
-Great Depression affected most countries worldwide. It was a fall in prices in the United States. Hoover takes office in March. In the spring, many countries growth slowed down. -
First Wave of Bank Failure
-Recession continues First wave of bank failures in the U.S happens in November and December. Smoot-Hawley Tariff Act becomes a law. -
Gold Standard Abandoment
-Germany abandoned the gold standard. Japan also responds by abandoning the gold standard and pursuing expansionary policies. -
Second Wave of Bank Failure
-Second wave of bank failure. 2,294 banks went down. Germany recession deepens. The U.S stayed on the gold standard and raising interest rates to protest the gold stock. As a result, the U.S recession deepen further. -
Third/Final Bank Failure
-Third and final bank Failure, Roosevelt wins 1932 Presidential Election in November. -
Federal Reserve
-the federal reserve begins open market purchase program in response to the threat of congressional actions. -
System Collapse
-Banks are still failing in the United States, the system finally collapsed in February when several states are left without an operating bank. Roosevelt takes office early March and declared a national bank holiday. The economy recovery begins. Adolf Hitler takes office in Germany in January. -
National Industrial Recovery
-U.S economy grows, but at an uneven rate. The National Industrial Recovery is growing. -
Second New Deal
-Roosevelt launches a Second New Deal that includes the National Labor Relations Act. (Wagner Act) -
U.S Recovery
-U.S recovery strengthens. Inflation rate accelerates an enormous buildup of excess reserves in the U.S banking system. -
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Great Depression Recovery
-America
-This was America’s third-worst downturn of the 20th century. GPD was dropping by 10% and unemployment was hitting 20%, but it was less severe than the recessions of 1920 and 1929. This recession lived quietly in the Great Depression’s shadow. -
German Invasion on Austria
-German Troops, Austria
-German troops invade Austria also known as “Anschluss” or the union of two countries. Austrian Chancellor Kurt Schischnigg was bullied by Hitler and so he resigned later. Schischnigg was then imprisoned until the end of World War II. It was unclear whether Austrian citizens agreed with the annexation, or it was because of threats from the Germans. -
Germany Invade Poland
-Germany->Poland, Nazis- Hitler
-Germany Invaded Poland, setting off the Second World War. As a result, the FDR signed the Neutrality Act of 1939 which ended the arms embargo and authorized Allied powers to purchase weapons. Germany claimed falsely that Poland was planning, with its allies Great Britain and France to dismember Germany. -
FDR Signing Lend-Lease
-Franklin D. Roosevelt, Chinese Government, Roosevelt Administration
-There was an FDR signing Lend-Lease, Franklin D. Roosevelt signed for the U.S. to aid China. Extended credits to the Chinese Government for purchasing of war supplies, but slowly restriction began to tighten on Japan. -
Pearl Harbor Attack
-Pearl Harbor, Hawaii; Japanese & Americans
-Japanese planes launches an attack again the American naval base at Pearl Harbor. More than 2,300 Americans were killed that day. After the attack on Pearl Harbor nobody felt the same because this also was another cause of what started WWII. -
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Battle of Midway
-Japanese, American Forces, Admiral Chester Nimitz; the Pacific
-Battle of Midway, American forces attacked and destroyed much of the Japanese air fleet. This was the most important battle of the war in the Pacific. “Admiral Chester Nimitz sank four Japanese carriers and destroyed 248 Japanese plans”. -
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The Tehran Conference
-Franklin D. Roosevelt, Winston Churchill, & Joseph Stalin; Iran
-The Tehran Conference was to discuss a strategic and cooperative plan which was to coordinate a Soviet Offensive and Allied landing at Normandy. Stalin agreed for them to enter the war against Japan when Adolf Hitler was defeated. -
GI Bill
-Congress
-June 1944 passed was the Servicemen’s Readjustment Act, or GI Bill, which provides educational and financial benefits to veterans. This offered unemployment compensation, financial aid for college, and low-interest home loans. -
Bombing of Hiroshima
-Japan, United States; City of Hiroshima, Japan
-Bombing of Hiroshima, the U.S. dropped an atomic bomb on the city of Hiroshima, Japan. The bombing killed about 30% of the population immediately. Radiation- related diseases started to affect residents for years. -
Surrender Ceremonies; USS Missouri
-Japan, Emperor Hirohito; Tokyo Bay
-Japanese officials boarded the USS Missouri in Tokyo Bay so they can participate in the surrender ceremonies. Emperor Hirohito surrendered to the Japanese people. He mentioned that if they continue to fight it would lead to a “total extinction of human civilization”.