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Stock Market Crash
The stock market crashes, marking the end of six years of unparalleled prosperity for most sectors of the American economy. The "crash" begins on October 24 (Black Thursday). By October 29, stock prices will plummet and banks will be calling in loans. An estimated $30 billion in stock values will "disappear" by mid-November. -
The Unemployed
More than 3.2 million people are unemployed, up from 1.5 million before the October, 1929 crash. President Hoover remains optimistic, stating that "all the evidences indicate that the worst effects of the crash upon unemployment will have passed during the next 60 days" -
Food Riots
This began to break out in parts of the U.S. In Minneapolis, several hundred men and women break in the windows of a grocery market and walk off with fruit, canned goods, bacon, and ham. The "riot" was brought under control by 100 policemen. Seven people were arrested. -
R. F. C.
Congress establishes the Reconstruction Finance Corporation. The R.F.C. is allowed to lend $2 billion dollars to banks, insurance companies, building and loan associations, agricultural credit organizations and railroads. Critics of the R.F.C. call it "the millionaires' dole." -
Presidential Election
Franklin Delano Roosevelt is elected president in a landslide over Herbert Hoover. Roosevelt receives 22.8 million popular votes to Hoover's 15.75 million. -
Dust Storm
A 3 day dust storm blows an estimated 350 million tons of soil off of the terrain of the West and Southwest and deposits it as far east as New York and Boston. Some east coast cities were forced to ignite street lamps during the day to see through the blowing dust. -
the end
Franklin Roosevelt is elected to a third term as president, defeating Wendell Willkie. FDR's victory is seen as proof of the nation's support of his war policies. Roosevelt lobbies Congress to pass the Lend-Lease Act. In little over a year, following Japan's bombing of Pearl Harbor, the U.S. entered the war in the Pacific and in Europe. The war effort will jump-start U.S. industry and effectively end the Great Depression
