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The Stock Market Crashes
The most devestating crash in U.S. history. The banks lost 30 billion dollars in just two days -
Smoot-Hawley Tariff
Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. The tariff increase has little impact on the American economy, but plunges Europe farther into crisis. -
Reconstruction Finance Corperation
The Corporation aimed to loan money to banks and rail roads to keep them from going bankrupt, unfortunately, this had little effect on the great depression as a whole, and didnt help to turn the economy around. -
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Hitler comes to power
Thanks to Germany's economic desperation, hitler was able to push his way to the top, and gain the people's love by turning the economy around. -
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The New Deal begins
President Roosevelt begins to implement the new deal, this began to help the economy, it implemented things like minimum wage and maximum work week, and child labor laws, and unemployment compensation. As well as agricultural loans, civilian constervation corps were formed, and bank reform was put into action. -
FDR becomes president
Franklin D. Roosevelt turned around America's Unemployment rate, when he became president the unemployment rate was 25 percent, and in 1937, it had fallen to 14.3 percent, a dramatic difference. -
Agricultural readjustment Act
The agricultural adjustment act established a minimum wage and maximum work week -
America enters World War II
America entering world war II was extremely good for the economy and ended the depression, bringing unemployment back to below 10 percent