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Stock Market Crash
The stock market begins it's decline, breaking a six year streak of prosperity. By November, $30 billion worth of stocks will be lost. -
Period: to
The Great Depression
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Unemployment
An estimated 3.2 million people are unemplyed. this number more than doubled that of the rate before the stock market crash. Herbert Hoover is optimistic and reassures that the crash and unemployement will be over in the next 60 days. -
Apple Selling
Around 6,000 unemployed people stand at the corners of New York City streets selling apples for five cents each. -
Food Riots
Rioting for nourishment begins as men and women smash windows and break in to grocery stores for food. Seven people are arrested in Minneapolis. -
Largest Bank Failure in U.S. History
Bank of the United States in New York collapses. It held over $200 million in deposits. -
Congresses made the Reconstuction Finance Corportation
The R.F.C. was allowed to let banks, insurance companies, loaners, and other businesses borrow $2 billion. It became known as "the millionaires' dole." -
The Hunger March
Approximately 5,000 people gathered outside Dearborn, Michigan just outside of the Ford factory. The unemployed people demanded jobs with Ford. The police became involved and attmepted using tear gas to stop the riot. Failed attempts led the police to fire gunshots into the crowd and spraying cold water on the crowd. Three were killed and 22 were wounded. The march leaders called off the protest when gunfire became involved. -
The Bonus Bill
Over 15,000 World War 1 veterans camp outside the White House demanding their bonus bill from the war. The Houses passes this bill but the senate does not. Still dteremined the veterans stay camped outside the White House. -
Roosevelt Comes into Office
Franklin Delano Roosevelt is elected president. Roosevelt receives 22.8 million popular votes while Herbert Hoover held 15.75 million. -
Roosevelt Delivers Hope
Roosevelt gave his first inaugural speech in front of 100,000 people. He spoke, "The only thing we have to fear is fear itself." It gave the people of the United States hope and assurance that they had elected someone who wasn't afraid to face the battle the country was in. -
Emergency Banking Act of 1933 is Passed
Congress passes the Emergency Banking Act of 1933. Before the end of the month, 75% of the nation's failed banks will be back in business. -
The Civilian Conservation Corps is Established
The Civilian Conservation Corps is made for a relief and employment program for young men. These men must fall between the ages of 17 and 27 and workd in national forests, parks, and other federal lands for short periods of time. FDR referred to this corportation as a volunteer "army." The highest working rate was in 1935 and held 500,000 young men. -
Unemplyment Rates Increase
The United States unemplyment rate reaches 24.9%. -
The Beginning of the Dust Bowl
The first major dust storm occured. It removed the majority of top soil from the Great Plains. This storm lasted two days and blew 12 million pounds of sand to Chicago. Two days passing, the sand was blown to the east coast up to New York and down to Washington D.C. -
Black Sunday
Twenty of the worst storms occured from Canada to Texas. The dust was said to turn day into night. It caused much damage throughout the country. -
More Workers Strikes
The United Auto Workers began a sit-down strike at a GM plant in Flint, Michigan. It lasted 44 days and spread to roughly 150,000 workers in 35 cities. -
More Union Strikes
Over 8 million workers were on strike and demandng their rights in unions. -
FLSA signed
Fair Labor Standards Act is signed. Miniumum wage was created. The Family and Medical Leave Act was created under this which allowed time off for family and medical purposes. The Agricultural Worker Protection Act was also created. -
Beginning of World War 2
The Japanese bombed Pearl Harbor which started World War 2.The start of the war brought unemployment rates below 10%. War spending more than doubled economic growth rates, ignoring the climaxing national debt, the great depression ended.
