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The stock market crashed causing the market to lose $30 billion. This day is known as "Black Thursday."
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Severe drought ruining the land for farmers making living condictions very difficult.
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First round of bank failures causing banks to shut down all over the country.
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Congress passed the Smoot-Hawley Tariff in attempt to protect American manufacturers from foreign competition. The tariff had little impact on America, but Europe fell deeper into crisis.
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People did not have enough money to buy food, so they started taking it from stores causing stores to lose not only food but money.
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Unemployment rates hit nearly 25%, its highest rate.
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President Roosevelt begins to implement "the new deal" that he promised to Americans.
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Franklin D. Roosevelt becomes president, winning the election over President Hoover. Many Americans hope that Roosevelt will help end the Depression.
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The Social Security Act is signed and provides money to retirees and others.
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Franklin D. Roosevelt is reelected as president for another term.
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