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The stock market crashes, marking the end of six years of unparalleled prosperity for most sectors of the American economy.
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More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. President Hoover remains optimistic.
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Texas congressman Wright Patman introduces legislation authorizing immediate payment of "bonus" funds to veterans of World War I. The "bonus bill" had been passed in 1924. It allots bonuses, in the form of "adjusted service certificates," equaling $1 a day for each day of service in the U.S., and $1.25 for each day overseas. President Hoover is against payment of these funds, saying it would cost the Treasury $4 billion.
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"Food riots" begin to break out in parts of the U.S. In Minneapolis, several hundred men and women smash the windows of a grocery market and make off with fruit, canned goods, bacon, and ham. The "riot" is brought under control by 100 policemen. Seven people are arrested.
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Resentment of "foreign" workers increases along with unemployment rolls. In Los Angeles, California, Mexican Americans are accused of stealing jobs from "real" Americans. During the month, 6,024 Mexican Americans are deported.
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New York's Bank of the United States collapses. At the time of the collapse, the bank had over $200 million in deposits, making it the largest single bank failure in the nation's history.
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Three thousand unemployed workers march on the Ford Motor Company's plant in River Rouge, Michigan. Dearborn police and Ford's company guards attack the workers, killing four and injuring many more.
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The Reconstruction Finance Corporation is authorized to lend needy states sums from the National Treasury. The money is to target relief and public works projects.
President Hoover signs a $100,000 transportation bill to assist "bonus Army" demonstrators in getting home. He sets a July 24 deadline for the men to abandon their encampments. -
On July 28, when some "bonus Army" members resist being moved from their camps, violence erupts, leading to the deaths of two veterans. Hoover orders Federal troops, under the command of General Douglas MacArthur, to assist D.C. police in clearing the veterans.
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Franklin Delano Roosevelt is elected president
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Before a crowd of 100,000 at the Capitol Plaza in Washington, D.C., Franklin Delano Roosevelt is inaugurated. FDR tells the crowd, "The people of the United States have not failed. In their need they have registered a mandate that they want direct, vigorous action. They have asked for discipline and direction under leadership. They have made me the present instrument of their wishes. In the spirit of the gift I take it."
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By March 9, Congress passes the Emergency Banking Act of 1933. By month's end, three-quarters of the nation's closed banks will be back in business.
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President Roosevelt, under the Emergency Banking Act, orders the nation off of the gold standard.
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The Tennessee Valley Authority is created. A federally run hydroelectric power program, the TVA Act is considered a huge experiment in social planning. The TVA also builds dams, produces and sells fertilizer, reforests the Tennessee Valley area, and develops recreational lands. Opponents of the TVA call it "communistic to its core."
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The Social Security Act of 1935 is signed into law by FDR.
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Photographer Dorothea Lange visits a pea-pickers' camp in California's San Joaquin Valley and takes photographs of harvest workers. Including one of the most famous in the "Migrant Mother Series".
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Defeating Kansas Governor Alfred M. Landon, FDR is elected to his second term as president.
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The Federal Government drafted 6 million soldiers, and ran massive deficits to fight World War II and the Great Depression finally ended. (Don't know exactly what month)
