The Great Depression by

1928

55434_14 — 2024-02-13 14:45:03 UTC

Elected President of the United States in 1928 and would be the President overseeing the Great Depression till 1932

1921-1929 Stock Market

55434_14 — 2024-02-13 14:56:03 UTC

Stock market prices would rapidly climb during the 20's to amounts that were way above their actual worth. In response to these rapid inflation in stocks, the Federal Reserve raised interest prices to try and hinder the growth.

October 24, 1929 (Black Thursday)

55434_14 — 2024-02-13 15:04:50 UTC

On the 24th investors, worried when seeing the stock market decline, rush to banks to sell their shares. In total, around 13 million stocks were sold on Black Thursday

October 29, 1929 (Black Tuesday)

55434_14 — 2024-02-13 15:09:58 UTC

On the 29th, even more investors rushed to banks to sell their share in stocks. In total around 16 million were sold on the 29th. Both of these events would lead to the "Great Crash of 1929".

Signs in Europe

55434_14 — 2024-02-13 15:23:13 UTC

The United Kingdom was also facing economic issues in the 20's and were slowly falling into a depression. Germany was also having trouble as it's industrial production slowed down causing worry.

1930 Dust Bowl

55434_14 — 2024-02-13 15:37:07 UTC

In 1930, due to bad agriculture practices and a drought that would last multiple years, the Great Plains suffered horrible production of goods such as cow products and agriculture products. These same conditions also led to unworldly dust storms that circled the soil around leading to horrible conditions for everyone and killing a lot of animals.

June 17, 1930 (Smoot-Hawley Tariff)

55434_14 — 2024-02-13 15:48:57 UTC

The Smoot-Hawley Tariff was passed on June 17, 1930 by Herbert Hoover and was supposed to help U.S. farmers. The tariff tried to help farmers by raising taxes on foreign imports in the hopes of reducing foreign competition. It received massive backlash.

Hoover 1930-1931

55434_14 — 2024-02-18 14:38:36 UTC

Hoover dislikes the idea of having federal help with the depression so instead he appeals to the state government with programs like RFC. The failure of only state government does not help the economy and people start to blame Hoover for the worsening of the depression. They also start to call homeless encampments "Hoovervilles"

Bank Rush 1930-1933

55434_14 — 2024-02-18 14:43:52 UTC

During this time people lost trust in the banks to keep their money so people in mass would run to banks to deposit their money. This would lead to banks going under as they had no money. This is called "Bank Rushing" and happened around 4 times during the depression.

1932

55434_14 — 2024-02-18 14:48:04 UTC

By 1932 around 30 million people around the globe were unemployed due to the Depression.

Election 1932

55434_14 — 2024-02-18 14:54:49 UTC

In 1932 the presidential election in the U.S. was held and Hoover was defeated by FDR.

Rise of Fascism and Hitler 1930's

55434_14 — 2024-02-18 15:01:41 UTC

During the 1930's fascism grew more than it ever had which was seen by the rise of Adolf Hitler. Hitler blamed minorities such as Jewish people for the economic depression that Germany felt and said he could fix the depression if put into power.

March 6, 1933

55434_14 — 2024-02-18 15:05:17 UTC

FDR closes all banks until they are insured by the federal government so that bank runs can no longer topple them over

1933-1935

55434_14 — 2024-02-18 15:12:01 UTC

FDR put in place "The New Deal" which includes programs that help america financially recover from the Depression