Great Depression in the United States/Timelines: Difference between revisions
Jump to navigation
Jump to search
imported>Nick Gardner No edit summary |
imported>Nick Gardner No edit summary |
||
| Line 77: | Line 77: | ||
:: National Employment System Act. | :: National Employment System Act. | ||
:: National Industrial Recovery Act[http://www.civics-online.org/library/formatted/texts/recovery_act.html]. | :: National Industrial Recovery Act[http://www.civics-online.org/library/formatted/texts/recovery_act.html]. | ||
::: The [[National Recovery Administration]] and the [[PWA|Public Works Administration]] [http://www.civics-online.org/library/formatted/texts/recovery_act.html] | |||
:: The [[National Recovery Administration]] and the [[PWA|Public Works Administration]] | |||
:: [[Federal Deposit Insurance Corporation]] [http://www.fdic.gov/about/history/index.html] created | :: [[Federal Deposit Insurance Corporation]] [http://www.fdic.gov/about/history/index.html] created | ||
:: Approximately 4,000 commercial banks and 1,700 "Savings and Loans" fail. | :: Approximately 4,000 commercial banks and 1,700 "Savings and Loans" fail. | ||
Revision as of 08:38, 23 February 2009
1921-23
- Post-war recession [1].
1921
- Warren G Harding becomes President [2]
1922
- The Fordney-McCumber Tariff Act [3]
1923
1924
1925
- Florida land boom bubble bursts [6]
1926
1927
- Long Island meeting of central bankers to discuss UK plea to help the £ by raising the US discount rate [7].
1928
- Death of Benjamin Strong, Governor of the Federal Reserve Bank of New York [10]
- Federal Reserve Bank raises its discount rate to 5%
1929
- Herbert Hoover becomes President [11]
August
- Start of a downturn in economic activity [12]
- Federal Reserve Bank raises discount rate to 6%.
October
- The stock market crash of 1929.
- 24 Black Thursday DJIA falls by 13%
- 28 Black Monday DJIA falls by 12.8%
- 29 Black Tuesday DJIA falls by 11.7%
1930
1931
- Banking crisis, with the failure of over 1800 banks.
- Federal Reserve raises rediscount rates.
1932
- Chicago Banking Panic [16].
- Revenue Act: income tax rates increased and allowances reduced [17].
- Reconstruction Finance Corporation [18] created
- Federal Home Loan Act [19]
- Recorded unemployment reaches 25 percent.
1933
- Trough of depression and start of recovery [20]
- March
- April
- Departure from gold standard [23]
- May
- Federal Emergency Relief Act [24].
- Agricultural Adjustment Act.
- Federal Securities Act.
- June
- National Employment System Act.
- National Industrial Recovery Act[25].
- Federal Deposit Insurance Corporation [27] created
- Approximately 4,000 commercial banks and 1,700 "Savings and Loans" fail.
1934
- Gold Reserve Act
- President fixes $/gold rate at $35 an ounce (devalued from $20) [28]
- Reciprocal Trade Agreement Act [29]
- Social Security Act: unemployment compensation introduced [30].
- GNP rises 7.7 percent, and unemployment falls to 21.7 percent.
1935
- GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.
1936
1937
- Recession of 1937 [31]: industrial production down 40 percent; unemployment rises by 4 million; stock market drops by 48 percent.