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President Hoover
Herbert Hoover was president at the time, and he said "Any lack of confidence in economic future or the basic strength of buisness in the United States is foolish" -
Stock Market Crashes
October 29, 1929, the stock market crashed sending the economy into the Great Depression. -
Period: to
The Great Depression
The begging of the stock market crashing starts a new era called the Great Depression. -
Unemployment
More than 3.2 million people are unemployed, up from 1.5 million before the stock market crashed. -
Apple Sellers
New York streets were full of nearly 6,000 people selling apples for $0.5 each. -
Food Riots
Several hundred men and women would bust out the windows of a grocery market to get fruit, canned foods bacon and ham. Causing the beginning of Food Riots. -
Banks Collapses
At the time of the collapse, the bank had over $200 million in deposits making it the largest single bank failure in the nations history. -
Election
Franklin Roosevelt is elected president in a landslide over Herbert Hoover. -
End of the Gold Standard
President Rossevelt, under the Emergency Banking Act, orders the nation off of the Gold Standard. -
Glass-Steagall Act
Congress passed the Glass-Steagall Act that seperates commercial from investment banking and set ups the Federal Deposit Insurance Coroperation tp gaurentee bank deposits. -
The Dust Bowl (Black Sunday)
Black Sunday, a day when winds had reached up to 60 mph, promped a reporter to coin the term "Dust Bowl" for the first time. -
Memorial Day Massacre
At Republic Steel's South Chicago plant, workers and their families try to combine a picnic with a rally and demonstration. Ten people are killed and a dozen more are wounded in the "Memorial Day Massacre." -
End Of The Great Depression
In little over a year, following Japan's December 1941 bombing of Pearl Harbor, the U.S. will enter the war in the Pacific and in Europe. The war effort will jump-start U.S. industry and effectively end the Great Depression.
