Black tuesday journal28

The Great Depression

By Najatibrahim15
  • Period: to

    The Great Depression

  • Stock Market crashed - Black Tuesday.

    Stock Market crashed - Black Tuesday.

  • Severe drought and Dust Bowl conditions began to ruin farmers’ land, a condition that lasted until 1935

    Severe drought and Dust Bowl conditions began to ruin farmers’ land, a condition that lasted until 1935

  • The GNP falls 9.4 percent from the year before. The unemployment rate climbs from 3.2 to 8.7 percent.

    The GNP falls 9.4 percent from the year before. The unemployment rate climbs from 3.2 to 8.7 percent.

  • Food riots broke out.

    Food riots broke out.

  • Industrial stocks have lost 80 percent of their value since 1930.

    Industrial stocks have lost 80 percent of their value since 1930.

  • More than 11,000 of the nation’s 25,000 banks had closed

    More than 11,000 of the nation’s 25,000 banks had closed

  • Unemployment reached its highest level, at 25%

    Unemployment reached its highest level, at 25%

  • Unemployment reached its highest level, at 25%

    Unemployment reached its highest level, at 25%

  • A third banking panic occurs in March. Roosevelt announced a three-day “bank holiday” to prevent a third run on banks.

    A third banking panic occurs in March. Roosevelt announced a three-day “bank holiday” to prevent a third run on banks.

  • ORGANISATIONS ESTABLISHED

    ORGANISATIONS ESTABLISHED
    The Civilian Conservation Corp (CCC) was established to put young men to work in federal and state parks
    The National Recovery Administration (NRA) was introduced
    The Federal Deposit Insurance Corporation (FDIC) was established to insure bank deposits
    The Civil Works Administration (CWA) was established to employ up to 4 million people on public works projects

  • The economy turns around: GNP rises 7.7 percent, and unemployment falls to 21.7 percent. A long road to recovery begins.

    The economy turns around: GNP rises 7.7 percent, and unemployment falls to 21.7 percent. A long road to recovery begins.

  • Economic recovery continues: the GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.

    Economic recovery continues: the GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.

  • The Social Security Act was signed into law, financed through payroll taxes

    The Social Security Act was signed into law, financed through payroll taxes

  • Economic recovery continues: GNP grows a record 14.1 percent; unemployment falls to 16.9 percent.

    Economic recovery continues: GNP grows a record 14.1 percent; unemployment falls to 16.9 percent.

  • Roosevelt was elected to a second term as president

    Roosevelt was elected to a second term as president

  • Roosevelt fears an unbalanced budget and cuts spending for 1937. That summer, the nation plunges into another recession. Despite this, the yearly GNP rises 5.0 percent, and unemployment falls to 14.3 percent.

    Roosevelt fears an unbalanced budget and cuts spending for 1937. That summer, the nation plunges into another recession. Despite this, the yearly GNP rises 5.0 percent, and unemployment falls to 14.3 percent.

  • Roosevelt asked Congress for an additional $3.75 billion to stimulate the still floundering economy

    Roosevelt asked Congress for an additional $3.75 billion to stimulate the still floundering economy

  • The United States will begin emerging from the Depression as it borrows and spends $1 billion to build its armed forces.

    The United States will begin emerging from the Depression as it borrows and spends $1 billion to build its armed forces.

  • World War II starts with Hitler's invasion of Poland.

    World War II starts with Hitler's invasion of Poland.

  • Roosevelt was elected to a third term as president

    Roosevelt was elected to a third term as president

  • World War II stimulated the American economy and effectively brought an end to the Great Depression