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Begining wealth & conflict.
World War 1 ends, and America enters a period of excessive spending on credit, grand peace, and cultural conflict. -
Prohibition Starts:
The Volstead Act closed every tavern, bar, and saloon in the U.S. -
Red Scare's Affects:
Due to the Red Scare, the National Origins Act set immigration quotas that excluded some nations. -
Jazz Copies Sold:
In 1927, 100 million copies were sold in that year alone. -
CARS! And Black Thursday.
By 1929 there was a car for every 5 Americans, but the stock market crashed too, so most people had to sell them. -
The first 4 Banking Panics
People tried to draw out all their money, but there wasn't enough for everybody, and people lost everything. -
Franklin D. Roosevelt wins election
Frank D. Roosevelt was the 32nd president of the U.S, and beat Herbert Hoover by a landslide victory. -
Great Depresion at it's peak
In 1933, some 13-15 million americans were unemployed, and nearly half of the country's banks had failed and closed. -
A 2nd severe Recession
The economy is rcovering slowly, but the Federal Reserve decides to increase reserve amounts, and is a poor decision, but is improving once again by 1938, 1 year later. -
WW2 kicks U.S into high gear.
The production lines are maximized again, and the economy reaces it's pre-depression levels. YAY!
