Great Depression/Timelines: Difference between revisions
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| Line 9: | Line 9: | ||
1930 | 1930 | ||
:Hawlet-Smoot Tariff Act | |||
: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. | :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. | ||
| Line 16: | Line 17: | ||
1932 | 1932 | ||
:[[Reconstruction Finance Corporation]] [http://www.constitution.org/norton/norton_07.txt] created | :[[Reconstruction Finance Corporation]] [http://www.constitution.org/norton/norton_07.txt] created | ||
:Federal Home Loan Act | |||
:Unemployment is 25 percent. | :Unemployment is 25 percent. | ||
:National income is 50 percent below that of 1929. | :National income is 50 percent below that of 1929. | ||
| Line 23: | Line 25: | ||
1933 | 1933 | ||
:Franklin D. Roosevelt elected president. | :Franklin D. Roosevelt elected president. | ||
:President declares a banking holiday and temporarily closes all U.S. banks using the Emergency Banking Act 1933[http://www.fdic.gov/about/history/index.html]. | |||
:The [[National Recovery Administration]] and the [[PWA|Public Works Administration]] created by the National Recovery Act 1933 [http://www.civics-online.org/library/formatted/texts/recovery_act.html] | :The [[National Recovery Administration]] and the [[PWA|Public Works Administration]] created by the National Recovery Act 1933 [http://www.civics-online.org/library/formatted/texts/recovery_act.html] | ||
:[[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 | ||
:Money supply is 40 percent lower than 1929. | :Money supply is 40 percent lower than 1929. | ||
:Approximately 4,000 commercial banks fail. | :Approximately 4,000 commercial banks fail. | ||
Revision as of 09:16, 5 January 2009
1920-28
1929
1930
- Hawlet-Smoot Tariff Act
- 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
- Reconstruction Finance Corporation [1] created
- Federal Home Loan Act
- 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.
- President declares a banking holiday and temporarily closes all U.S. banks using the Emergency Banking Act 1933[2].
- The National Recovery Administration and the Public Works Administration created by the National Recovery Act 1933 [3]
- Federal Deposit Insurance Corporation [4] created
- Money supply is 40 percent lower than 1929.
- Approximately 4,000 commercial banks fail.
- 1,700 S&Ls fail
1934
1935
1936
1937
1938
1939