Great Depression/Timelines: Difference between revisions
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imported>Nick Gardner No edit summary |
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1932 | 1932 | ||
:[[Reconstruction Finance Corporation]] [http://www.constitution.org/norton/norton_07.txt] created | |||
: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. | ||
Revision as of 07:22, 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
- Reconstruction Finance Corporation [1] created
- 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.
- The National Recovery Administration and the Public Works Administration created by the National Recovery Act 1933 [2].
- 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