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The great depression
Main
1920's
1920 - 1929
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The value of farmland falls 30 to 40 percent between 1920 and 1929.
banks fail
1920
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An average of 600 banks fail each year.
stock market
1924
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The stock market begins its spectacular rise. Bears little relation to the rest of the economy.
tax rate
1925
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The top tax rate is lowered to 25 percent - the lowest top rate in the eight decades since World War I.
1929
1929
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More than half of all Americans are living below a minimum subsistence level.
1932
1929 - 1932
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Over 13 million Americans have lost their jobs since 1929.
farmlands
1929
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The value of farmland falls 30 to 40 percent between 1920 and 1929.
democrats
1930
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Democrats gain in Congressional elections, but still do not have a majority.
unemployment rises
1931
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The GNP falls another 8.5 percent; unemployment rises to 15.9 percent.
industrial stocks
1932
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Industrial stocks have lost 80 percent of their value since 1930.
tax rate rises
1932
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Top tax rate is raised from 25 to 63 percent.
congress
1935
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Congress passes the Banking Act of 1935, the Emergency Relief Appropriation Act, the National Labor Relations Act, and the Social Security Act
economic recovery
1936
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Economic recovery continues: GNP grows a record 14.1 percent; unemployment falls to 16.9 percent.
roosevelt reelected
1936
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Roosevelt Reelected
Franklin D. Roosevelt is elected to a second term as president, winning in a landslide over Republican Alf Landon. Roosevelt wins every state but Maine and Vermont.
Nazi rally in NYC
1939
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Nazi rally in NYC in 1939