Great Depression/Timelines: Difference between revisions
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imported>Nick Gardner No edit summary |
imported>Nick Gardner No edit summary |
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| Line 21: | Line 21: | ||
:Bank runs and closings are common | :Bank runs and closings are common | ||
1933 | 1933 | ||
:Franklin D. Roosevelt | :Franklin D. Roosevelt elected president. | ||
:[[National Recovery Administration]] created by the National Recovery Act 1933 [http://www.civics-online.org/library/formatted/texts/recovery_act.html] | |||
:President declares a banking holiday and temporarily closes all U.S. banks. | :President declares a banking holiday and temporarily closes all U.S. banks. | ||
:Money supply is 40 percent lower than 1929. | :Money supply is 40 percent lower than 1929. | ||
Revision as of 06:41, 5 January 2009
1920-28
1929
1930
- US GNP drops 9.4% from the previous year. The unemployment rate climbs from 3.2 to 8.7%. By the end of the year, 1,350 banks have closed.
1931
1932
- Unemployment is 25 percent.
- National income is 50 percent below that of 1929.
- Stock market is 75 percent below its 1929 high.
- Bank runs and closings are common
1933
- Franklin D. Roosevelt elected president.
- National Recovery Administration created by the National Recovery Act 1933 [1]
- President declares a banking holiday and temporarily closes all U.S. banks.
- Money supply is 40 percent lower than 1929.
- Approximately 4,000 commercial banks fail.
- 1,700 S&Ls fail
1934
- FDIC created
1935
1936
1937
1938
1939