Great Depression in the United States/Timelines: Difference between revisions

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1934
1934
: Gold Reserve Act
: President fixes $/gold rate at $35 an ounce (devalued from $20) [http://www.the-privateer.com/1933-gold-confiscation.html]
: Reciprocal Trade Agreement Act [http://www.asycuda.org/cuglossa.asp?term=Trade%20Agreements%20Act%20of%201934]
: Reciprocal Trade Agreement Act [http://www.asycuda.org/cuglossa.asp?term=Trade%20Agreements%20Act%20of%201934]
:  Social Security Act: unemployment compensation introduced [http://www.treasury.gov/education/fact-sheets/taxes/ustax.shtml].
:  Social Security Act: unemployment compensation introduced [http://www.treasury.gov/education/fact-sheets/taxes/ustax.shtml].

Revision as of 16:13, 18 February 2009

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https://en.citizendium.org/wiki/index.php?title=Great_Depression_in_the_United_States/Timelines&printable=yes
A timeline (or several) relating to Great Depression in the United States.


1921-23

Post-war recession [1].

1921

Warren G Harding becomes President [2]

1922

The Fordney-McCumber Tariff Act [3]

1923

Calvin Coolidge becomes President [4].
Start of "Coolidge Prosperity" [5].

1924

1925

Florida land boom bubble bursts [6]

1926

1927

Long Island meeting of central bankers to discuss UK plea to help the £ by raising the US discount rate [7].
Federal Reserve Bank cuts its discount rate cut from 4% to 3% and purchases US government securities [8][9].
Renewed economic upturn

1928

Death of Benjamin Strong, Governor of the Federal Reserve Bank of New York [10]
Federal Reserve Bank raises its discount rate to 5%

1929

Herbert Hoover becomes President [11]

August

Start of a downturn in economic activity [12]
Federal Reserve Bank raises discount rate to 6%.

October

The stock market crash of 1929.
24 Black Thursday DJIA falls by 13%
28 Black Monday DJIA falls by 12.8%
29 Black Tuesday DJIA falls by 11.7%


1930

June
Hawley-Smoot Tariff Act [13][14]
December
Failure of the Bank of United States [15].


1931

Banking crisis, with the failure of over 1800 banks.

1932

Chicago Banking Panic [16].
Revenue Act: income tax rates increased and allowances reduced [17].
Reconstruction Finance Corporation [18] created
Federal Home Loan Act [19]
Recorded unemployment reaches 25 percent.

1933

Trough of depression and start of recovery [20]
March
Inauguration of Franklin D. Roosevelt [21]
4-day banking holiday (temporarily closes all U.S. banks using the Emergency Banking Act) 1933[22].
Reforestation Relief Act.
April
Departure from gold standard [23]
May
Federal Emergency Relief Act [24].
Agricultural Adjustment Act.
Federal Securities Act.
June
National Employment System Act.
National Industrial Recovery Act[25].
The National Recovery Administration and the Public Works Administration created by the National Recovery Act 1933 [26]
Federal Deposit Insurance Corporation [27] created
Approximately 4,000 commercial banks and 1,700 "Savings and Loans" fail.

1934

Gold Reserve Act
President fixes $/gold rate at $35 an ounce (devalued from $20) [28]
Reciprocal Trade Agreement Act [29]
Social Security Act: unemployment compensation introduced [30].
GNP rises 7.7 percent, and unemployment falls to 21.7 percent.

1935

GNP grows another 8.1 percent, and unemployment falls to 20.1 percent.

1936

1937

Recession of 1937 [31]: industrial production down 40 percent; unemployment rises by 4 million; stock market drops by 48 percent.
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