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Black Thursday
The first day of the stock market crash on which the stock market prices declined. This led to the great depression. -
Stock Market Crashes
The stock market had been decreasing rapidly until this day which it hit rock bottom. -
Smoot-Hawley Tarff Act
Passed by Hoover which raised taxes on products and other countries began to withhold their goods and trading began to decrease. -
Failure of Tennessee Bank
After the Tennessee Bank failed many other banks closed that were connected to each other. This had caused over 1,300 banks to fail. -
Bank of U.S. Failure
The fourth largest bank in the country failed causing deflation and unemployment to become a big problem. The econmy decreased by 8.5% -
Drought hits Plains
Crops die and the "black blizzards begin. Dust from ore-plowed and over grazed land begins to blow. -
Reconstruction Finance Corporation
Congress tried to fight the Depression with this corporation. It gave 2 billion dollars to banks in order to prevent more closures. -
New Deal Promise
this deal was created to fight against the Depression. It provided relief for the unemployed and increase demand to promote growth. Proposed by Franklin D. Roosevelt to help win presidency. -
Revenue Act of 1932
Hoover passed this act in an effort to lower the Federal deficit. The top income tax was increased to 63%. This caused the Depression to get worse. -
Roosevelt was Elected
Planned to stop the Depression. He ended prohibition and created jobs for the unemployed. -
Emergency Banking Act
Passed by Congress to re-open many of the banks that had closed. -
Dust Bowl
Dust storms were coming frequently through Midwest. -
Second New Deal
The New Deal started to fall apart but F.D.R did not give up. The new deal included the Social Secuiriy, National Labor Relations, and Works progress Act. -
Dust Bowl
No rain for 4 years in Midwest plains. -
Memorial Day Strike
Steel workers wanted unionization. They marched peacefully and were shot at by police. -
Roosevelt Recession
FDR reduced spending to balance federal budget. Millions of workers ended up losing their jobs. -
Fair Labor Standards Act
National minimum wage was created with a 40 hour work week. child labor laws put in place. -
World War II
FDR wanted to repeal military arms embargo to France and Britain. U.S. dept rose to 40 billion dollars. -
Greatest Migration of United States
3.5 million people moved. 86,000 people migrated to California in one year. 500,00 Americans were left Homeless.