Great Depression/Timelines: Difference between revisions
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imported>Nick Gardner mNo edit summary |
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1920-28 | 1920-28 | ||
: Britain returns to the [[gold standard]] [http://nber15.nber.org/bookcv_1/THE%20INTERNATIONAL%20GOLD%20STANDARD%20REINTERPRETED%201914-1934-BROWN-JR_WILLIAM-ADAMS-1940.CV.pdf] | |||
1929 | 1929 | ||
:The stock market [[crash of 1929]] | |||
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1931 | 1931 | ||
:Britain leaves the [[gold standard]] [http://www.econ.iastate.edu/classes/econ355/choi/1931sep21a.html] | |||
Revision as of 09:07, 5 January 2009
1920-28
- Britain returns to the gold standard [1]
1929
- The stock market crash of 1929
1930
- Hawley-Smoot Tariff Act [2][3]
- 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
- Britain leaves the gold standard [4]
1932
- Reconstruction Finance Corporation [5] created
- Federal Home Loan Act [6]
- 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.
- President declares a banking holiday and temporarily closes all U.S. banks using the Emergency Banking Act 1933[7].
- The National Recovery Administration and the Public Works Administration created by the National Recovery Act 1933 [8]
- Federal Deposit Insurance Corporation [9] created
- Money supply is 40 percent lower than 1929.
- Approximately 4,000 commercial banks fail.
- 1,700 S&Ls fail
1934
1935
1936
1937
1938
1939