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The 1920's was nicknamed as the Roaring Twenties in part because of the booming economy, low unemployment and growing stockmarket.
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Herbert Hoover is elected president in 1928 before the Great Depression starts. When the it did start he believed in minimal government intervention to help solve the problems of the Great Depression. Many Americans felt that Hoover did not do enough to help.
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The day known as Black Tuesday is when the stock market crashed and marks the start of the Great Depression
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A worldwide depression caused by the United States stock market crash. Prices and wages fell while unemployed and poverty greatly increased. There is not set end date but it is generally thought to have ended with the start of WWII.
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Signed by President Hoover the Smoot-Hawley Tariff Act placed heavy taxes on imported goods to try and encourage Americans to buy products made in the United States. Instead other countries increased their own tariffs on U.S. goods and world trade came to a standstill.
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Democrat Franklin Delano Roosevelt is elected President of the United States beating Herbert Hoover. He would go on to be elected to four terms as president. He is the only president to be elected to more than two terms.
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Roosevelt beleived that the government could help restart the economy and provide relief to the American people. To do this he engaged in a program known as the New Deal. The New Deal established public work programs, welfare programs and created new regulations for the stock market and banking system
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As part of the New Deal President Roosevelt singed the Tennessee Valley Authority Act that created the TVA. It was created to serve the Tennessee Valley area which was hit hard by the Great Depression
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The Banking Act of 1933 also known as the Glass-Steagall Act imposed a series of banking reforms. It also created the Federal Deposit Insurance Corporation (FDIC) which insured deposits at banks up to a certain amount of money.
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Created as part of the New Deal, the WPA employed millions of Americans on public works projects. It's goal was to provide jobs and income to the unemployed of the Great Depression
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Passed as part of the New Deal, this act created the Social Sercurity system.
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Germany invades Poland marking the start of World War II in Europe.
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The Japanese launch a surprise attack at the U.S. Navy base at Pearl Harbor, Hawaii.
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As a response to Pearl Harbor the United States declares war on Japan. A few days later the U.S. would also declare war on Germany and Italy marking their entry into the war. This is also generally considered the end point for the Great Depression.
