-
Hoover experienced an overwhelming and commanding victory, partly due to the prosperity experienced under other Republicans.
-
-
Despite confidence in economy, it begins to show signs of a minor recession.
-
Confidence in the market started to waver. As a result, intuitive investors began selling their stocks and pulling out of the market.
-
The market took a plunge, and in response panicked investors began to unload their shares, unaware the worst was yet to come.
-
A total of 16.4 million shares were dumped as shareholders attempted to frantically sell before prices crashed even lower.
-
By the end of 1929, approximatley 600 banks had closed due to bank failure.
-
This established the highest protective tariff in United States History. By reducing the flow of goods into the U.S., other countries could not earn American currency to buy American goods.
-
Political tide began to turn against Hoover, as Democrats take control of the House of Representatives. Hoover's Republicans only maintained majority in the Senate by one vote.
-
Drought and high winds began to destory what little topsoil was left in the midwest region.
-
Over one quarter of the total population would eventually be unemployed.
-
Over $2 billion was authorized for emergency financing of banks, life insturance companies, railroads, and other large businesses. Unfortunatley, it was too late and business failures continued.
-
As a result, thousands of farming families began migrating West.
-
The bill would have authorized the government to pay a bonus to World War I veterans who had not been adequately compensated for their wartime service.
-
This lowered mortage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure.
-
1,000 soldiers under command of General MacArthur and Major Dwight D. Eisenhower, gas more than 1,000 people.
-
FDR won the electoral vote 472 to 59.
-
In modern times that would be approximately 4.5 million students.
-
Over 50 million Americans listen to FDR's address and his famous line, "the only thing we have to fear is fear itself."
-
By 1933 11,000 of the nation's 25,000 banks had failed. That's 44%!
