Economic Events 1930-1939

By djphillips15
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    Economic Events

  • Empire State Building Begins Constructions

    New York City begins building the Empire State Building, creating jobs for +3,400 workers

  • Smoot-Hawley Tariff Act Signed

    When this act was signed into law, it raised tariffs on both imports and exports. This encouraged "buying American", which would improve the money circulating, and help the economy.

  • President Hoover's Request to Congress

    President Hoover asks Congress to pass $150 million in public works projects to increase employment and economic activity.

  • Unemployment Reaches Record High

    The nation's unemployment rate reaches 25%, as the Great Depression continues.

  • Nevada Legalizes Gambling

    Nevada legalizes gambling in an attempt to encourage spending.

  • Federal Banks Close

    Inbetween September and October, over 800 banks close their doors.

  • At the Lowest

    At its peak of the Great Depression, the U.S. saw as many as 10,000 banks fail and +12 millin people unemployed.

  • Reconstruction Finance Company

    The Reconstruction Finance Co. is established to stimulate both banking and businesses.

  • Election of FDR

    Franklin Delano Roosevelt is elected into office for his first term.

  • President Roosevelt's Changes

    President Roosevelt declares a four-day bank holiday, works with Congress to pass the Emergency Banking Act, establishes the FDIC to protect depositors, and passes the Glass-Steagull Act which restricted the risks banks could take.

  • First 100 Days (Through June 16)

    The first 100 days of President Roosevelt's "New Deal" begin, ushering in a fight against the Depression.

  • Civilian Conservation Corps

    The Civilian Conservation Corps provides 2.5 million jobs all across the nation.

  • President Roosevelt's Request

    President FDR requests, from Congress, $10.5 billion for recovery and "New Deal" efforts.

  • Gold Reserve Act

    Congress passes the Gold Reserve Act to regulate the value of the U.S. dollar

  • Export Import Bank of Washington

    Export Import Bank of Washington is established to encourage foreign trade and stimulate the economy.

  • Home Owners Loan Act

    President Roosevelt signs the Home Owners Loan Act, which is designed to stimulate home building.

  • U.S. Securities/ Exchange Commision Est.

    President Roosevelt establishes the U.S. Securities and the Exchange commision to further protect the economy of the United States.

  • Banking Act Passes in Congress

    Congress passes the Banking Act, which gave the Federal Reserve authority to use a monetary policy to attempt to stabilize the economy.

  • Social Security Bill

    President Roosevelt signs the Social Security Bill hoping to recieve tax and wage contributions from citizens. It made payouts to retirees, and made workers contribute at 2% of the first $3,000, half by employee, half by employer.

  • Robinson-Patman Act

    This act required businesses to regulate sale prices of goods and services, regardless of who is the buyer.

  • President Roosevelt's Re-Election

    President Franklin Roosevelt wins the election, beginning his second term in office.

  • U.S. vs Butler Supreme Court Case

    In this case, the jury decided that limits on agriculture to avoid paying taxes as a use of government spending was unconstitutional.

  • Neutrality Act Passes

    The Neutrality Act passes, detering the U.S. from involvment with Europe and WWII, supporting U.S. isolationism.

  • Golden Gate Bridge Construction

    Golden Gate Bridge is under construction, which provided employment and encourage interstate travel and spending.
    (Through May)

  • USS Panay Incident

    Japan attacks and sinks a U.S. Gunboat, which lead to higher factory production. This was done to support a possible war effort.

  • Wheeler Lea Act Passes

    This act, when passed, would protect American consumers from false and deceptive advertisements.

  • Fair Labor Standards Act Passes

    Under this act, the national minimum wage was established at $.25 hourly, with x+1/2 for overtime payment. Beyond that, it limited employees to a maximum 44 hour, 7 day work week. Finally, it prohibited the employment of minors.

  • President Roosevelt's Defense Request

    President Franklin Roosevelt makes a new request of Congress, asking for a large spike in the defense budget.

  • German Invasion Begins

    GErmany invades Poland, signalling the start of World War II.