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Black Tuesday
On October 29, 1929 investors traded 16,410,30 shares in a single day. Billions of dollars were lost, eliminating investors. The machine’s tickers ran behind due to the large amount of trading. This was after Black Thursday when a record 12,894,650 shares were traded. The banks tried to stabilize the market by buying blocks of stock. Unfortunately, their efforts did not work and the Stock Market completely crashed. This would be the worst day in the Stock Exchanges history. -
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The Great Depression
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Period: to
The Great Depression
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Food Riots Begin
In parts of the U.S. food riots start to break out. In Minneapolis looters start to steal food from local grocery stores. It took more than 100 policemen to diffuse the situation. -
Franklin D. Roosevelt is elected as President
FDR is elected as president and beats his opponent Herbert Hoover with 22.8 million to Hoover's 15.75 million of the popular votes. -
Federal Emergency Relief Adminsitation is created by Congress.
Fedral Emergency Relief Adminsitation is created by Congress. Presient Roosevelt appoints Harry L. Hopkins as Chief Adminstrator. At the end of the first day over 5 million dollars worth of grants were issued. It helped families get money and for people to get jobs. -
The Federal Deposit Insurance Corporation is created
The FDIC is created to respond to thousands of bank failures in the 1920s and 1930s. The FDIC guaranteed payment back to investors due to bank failures. -
The Dustbowl
Over 350 tons of soil was swept away in parts of the Great Plains lasting three days. Numerous east coast cities were forced to light street lights due to poor visiibility. -
Social Security Act was signed.
FDR signed the Social Security Act and taxes were collected for the first time in January of 1937. Monthly benefitis began in January of 1940. -
Dorthea Lange takes famous photo of the Migrant Mother
Dorthea Lange a government appointed photographer of the Great Depression takes the famous photo of a family working at a pea-picking camp in California. This would be one of the most famous photos to come from the Great Depression. -
1936 Olympics in Berlin Germany
Germany holds the 1936 Olympics in Berlin, Germany; the capital of Nazi Germany. The 1936 Olympics would have the first Olympic torch and people around the world would see the outsanding performance by Jesse Owens -
The Night of Broken Glass
In Germany and Austria on Nov. 9-10 mobs beat, raped, arrested, and murdered Jews. The mobs also raided Jewish-owned stores and burned down synagogues. Firefighters and other government officials stood by and watched the destruction take place. Many consider this the start of the Holocaust. -
World War II begins
Hitler sends 1300 planes and 1.5 million ground troops into Poland. Hitler was violating the Treaty of Versailles and this would spark the beginning of World War II with the Axis Powers and the Allies. The war would last 6 years and would be the first war with the use of an atomic weapon. -
FDR takes third term as President
FDR was elected for a third term in 1940 and would be the only U.S. President to do so after the 22nd ammendment stated that no president should be elected more than twice.
