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Herbert Hoover inaugurated as the thirty-first President of the United States.

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First annual Academy Awards

The first annual Academy Awards are presented by the Academy of Motion Picture Arts and Sciences.

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Hughes named Chief Justice

Hoover names Charles Evans Hughes, former Secretary of State under Harding and Coolidge, Chief Justice of the Supreme Court. Hughes replaces former President William Howard Taft.

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Yuko Hamaguchi assassinated

Japanese Premier, Yuko Hamaguchi, is assassinated by a military fanatic. Hamaguchi had supported the London Naval Treaty signed in April, and his death opens the government to the increasing influence of military groups. Eighteen months later, Hamaguchi's replacement, Ki Inukai, will also be assassinated, with these groups assuming full control of the government.

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Emergency Committee report

The President's Emergency Committee reports that the number of unemployed is nearly five million.

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January 7, 1931 Emergency Committee report The President's Emergency Committee reports that the number of unemployed is nearly five million.

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Britain dumps gold

Britain goes off the gold standard in an effort to solve the continuing economic crisis. Americans, fearing that the United States will soon do the same, begin to withdraw their money from banks and hoard gold. Over the next month, 827 more banks will close.

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September 21, 1931 Britain dumps gold Britain goes off the gold standard in an effort to solve the continuing economic crisis. Americans, fearing that the United States will soon do the same, begin to withdraw their money from banks and hoard gold. Over the next month, 827 more banks will close.

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"Stimson Doctrine" delivered

Secretary of State Stimson delivers a diplomatic note to Japan, condemning its actions in Manchuria. The “Stimson Doctrine” indicates America's refusal to recognize territory seized by force of arms.

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January 7, 1932 "Stimson Doctrine" delivered Secretary of State Stimson delivers a diplomatic note to Japan, condemning its actions in Manchuria. The “Stimson Doctrine” indicates America's refusal to recognize territory seized by force of arms.

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Franklin D. Roosevelt elected

Franklin D. Roosevelt wins the presidential election over Hoover in dramatic fashion. Roosevelt wins 472 electoral votes (22.8 million popular) to Hoover's 59 (15.8 million popular). The election illustrates the widespread public opinion that Hoover is largely to blame for the continuing economic crisis. By the end of the year, 13 million Americans are unemployed, total wages are 60 percent less than they were in 1929, and business losses are estimated to be as much as $6 billion.