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On November 7,1928, Herbert Hoover was announced as the new president of the United States.
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This was the beginning of The Great Depression. People paniced and decided to sell their stocks. People who had spend their whole life saving money were now bankrupt. By the end of the day, thirteen million shares had been traded and the market dropped four billion dollars.
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Over 3.2 million people were unemployed at this time.
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Loosing $200 million in bank deposits, this made this to be the single largest bank failure in history.
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"The only thing we have to fear is fear itself."
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President Franklin D. Roosevelt put The New Deal in place on this date. This plan was designed to help the economy by creating 3 million jobs for the american people.
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The Civilian Conservation Corps (CCC) created jobs for 250,000 young men in road construction and national parks.
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The Public Works Administration (PWA) built things like roads, diposal plants, schools, and airports.
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The Civil Works Administration (CWA) provided work to four million unemployed people
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The 21st Amendment appealed the 18th amendment and ended prohibition.
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The Dust Bowl lasted three days and blew about 350 million tons of soil out of the West and Southeast. The soil was blown as far as New York and Boston.
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The Social Security Act gives benefits to people retiring at 65, gives aid to children, and gives unemployment insurance. This act is still in effect today.
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Dorothea Lange took this picture from a pea-picker's camp in California.
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Ten people are killed and a dozen are wounded.
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The bombing of Pearl Harbor boosted the U.S. industry and put an end to The Great Depression.
