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Black Tuesday
The Great Crash, the New York Stock Exchange completely crashes. Billions of dollars were lost and thousands of investors were wiped out. Making this a major factor to the Great Depression -
The Dust Bowl
"The Dirty Thirties" caused by severe changes in regional weather, farm economics, and other factors. Drove many farming families on desperate migration in search for work and better living conditions -
The Bank of the United States fails
4th largest bank in nation, and the largest bank failure. Unemployment rate rises to 8.7%. -
Hooverville
A shanty town built during the Great Depression by the homeless in the United States. The town named after Hoover Herbert, who was widely blamed for the Great Depression. -
Hoover Dam
A concrete arched dam in the Black Canyon of the Colorado River. To supply electrical power necessary to transport 4.4 million acre-feet to California. -
Franklin is elected
In 1932 Presidential election, Roosevelt defeated Republican Herbert Hoover. -
Revenue Act
Hoover signs Revenue Act of 1932. Increases top income tax to 63%. Hoover believing it would restore confidence, instead worsens the depression -
Bonus Army
A group of 43,000 demonstrators, a lot were U.S World War 1 veterans. Gathered in Washington D.C to demand early cash redemption of their service. -
New Deal
A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin Roosevelt. -
Wall Street Strike
A protest movement against economic inequality. -
Social Security Act
Provided income to elderly, blind, the disabled, and children in low-income families. Paid for with payroll taxes. Unemployment to 20.1%. -
Hindenburg Exlposion
Inaugurated commercial air service across the North Atlantic. Argued that fire started by electric spark which caused buildup of static electricity on airship. Hindenburg exploded and that marked end of the use of airships in commercial air transportation.
