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Many WWI Veterans were promised a bonus after 1940. After over 15,000 Veterans gathered in Washington, D.C. creating the bonus army, they moved to appeal for early payment. When the idea was later rejected by congress, General Douglas MacArthur ordered his troops to efface the bonus army by using tear gas, guns, and prodding with bayonets. Because President Hoover was thought to be the cause of this horrific anomaly, he was elected down as president and Franklin Delano Roosevelt was elected into office.

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The vast wealth of America's richest citizens hid the fact that many people were struggling to get by. The majority of the American people in the 1920s had only small incomes and little savings.

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1930s was the worst economic crisis in history. It affected millions of others around the globe. Many European countries had to borrow money from the U.S. The American economy failed and so did Europes. This lasted over till 1929-1941. Many Americans were homeless and they suffered to to famine.

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Unemployment, hunger, and homelessness grew and many blamed Hoover. He did not want to increase governments role in economy so he encountered churches and private charities to aid people. In 1932 He created The Reconstruction Finance Corporation that would give loans to banks and railroads. He also approved public works projects. And he also Created the Hoover Dam

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A lot of small basic industries were in serious trouble.

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He created a program called The New Deal to fight the Great Depression
First New Deal that lasted from 1933 to 1935

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Unable to keep up with the latest trends

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Unable to keep up with the latest trends

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Most Americans could not afford cars and latest appliances.

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Middle class people and the poor were not getting enough money to purchase additional products.

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He was the 32nd President on March 4th 1933
The session of Congress lasting from March 9th to mid-June 1933 is called the Hundred Days
He created the bank holiday to shut down all banks
During the Hundred Days he sent new bills to Congress
FDR communicated with the public through fireside chats, a series of radio talks in which he explained his policies in a "warm, casual style"

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Many Americans couldn't find steady work; in particular, African Americans had high jobless rates. Even so, many consumers continued to buy goods on credit, an arrangement for delaying payment on a purchase. This caused people to acquire large debts.

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During a mere two-months period, stocks on the New York stock Exchange to their went from being worth fortune to being almost worthless. As a result investors tried desperately to sell their stocks before going bankrupt.

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Farmers were facing a problem where they would produce to much crops and would not be able to sell it all.

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Low prices and high rates of debt made farmers vulnerable to changes in the economy.

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The stock market still showed promise as prices kept climbing. As a result, many Americans rushed to buy stocks. Increasingly, investors bought on speculation, buy and selling risky stocks in the hope of making a quick profit. But when stock prices fell, borrowers couldn't repay their loans. Due to their debt, many Americans risked bankruptcy.

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October 29 stocks prices fell so sharply that people referred to to the day as "black Tuesday