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Created byDawn Kesler
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Good TimesStock Market CrashUnemployment LowIn the fall of 1928, Herbert Hoover, future
president of the United States, announced,
"We in America today are nearer to the
final triumph over poverty than ever before
in any land."Unemployment averages 3%
for the year.The American stock market collapses,
signaling the onset of the Great Depression.Smoot-Hawley TariffCongress passes the Smoot-Hawley Tariff,
steeply raising import duties in an attempt
to protect American manufactures from
foreign competition. The tariff increase has
little impact on the American economy, but
plunges Europe farther into crisis.Unemployment is Rising!Unemployment averages 16% for the year.Major Bank CollapseNew York's Bank of the United States
collapses in the largest bank failure to
date in American history.
$200 million in deposits disappear, and
the bank's customers are left holding
the bag.Roosevelt ElectedDemocrat Franklin D. Roosevelt defeats
incumbent Republican President Herbert
Hoover in a landslide to win the presidency.Unemployment at Highest PointUnemployment averages 25% for the year.Roosevelt InaugurationFranklin D. Roosevelt is inaugurated
into office as 32nd President of the
United States. He vowed to follow to make
big changes following the three Rs: Relief,
Recovery, and Reform.FERA is Helping!By 1935, FERA had helped more
than 20 million workers.Drought sweeps Great Plains.Roosevelt Establishes Alphabet AgenciesCCC (the Civilian Conservation Corps)FERA (the Federal Emergency Relief Agency)CWA (the Civil Works Administration)Unemployment Begins to Decrease!Unemployment averages 20% for the year.The Dust Bowl (Black Sunday)Sunday, April 14, saw such terrible
dust storms, that it was called
Black Sunday. The area destroyed by
the storms was nicknamed the
Dust Bowl.Roosevelt ReelectedFranklin D. Roosevelt is elected
to a second term as president,
winning in a landslide over Republican
Alf Landon. Roosevelt wins every state
but Maine and Vermont.Mobilization Lifts EconomyThe Japanese attack on Pearl Harbor
draws United States into World War II.
Mobilization for war finally lifts the
American economy permanently out
of the Great Depression.
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