Timeline Following the Wall Street Crash

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1929 |February 2nd, Federal Reserve announces a ban on bank loans for margin trades • March 4th, Herbert Hoover is inaugurated as President • June 15th, Agricultural Marketing Act passed
• August, economic expansion peaks
• September 3rd, stock market prices peak, with New York Times index of industrial stocks at 452 • October 24th, "Black Thursday," recorded sales of shares hits 12,895,000 • October 25th, market rallies, briefly

• October 29th, "Black Tuesday," recorded sales of shares hits 16,410,000. New York Times index of industrial stocks drops nearly forty points, the worst drop in Wall Street history to that point. • November 13th, stock market prices reach low for the year, with New York Times index of industrial stocks at 224 | | |1930 |May 30th, New York Times prints petition of 1,028 economists (PDF) who oppose Smoot Hawley Tarrif Act | | |June 17th, Smoot-Hawley Tariff Act is signed into law | | |October, Committee for Unemployment Relief formed | | |Treatise on Money, by John Maynard Keynes, published | | |By year's end, 1350 banks have suspended operations during 1930 | |1931 |January 7th, the Committee for Unemployment Relief releases a report on unemployment showing that 4 to 5 million | | |Americans were out of work. | | |January 19th, Hoover's Wickersham Commission reports that enforcement of Prohibition has become almost impossible. | | |March 31st, Davis-Bacon Act becomes law, requiring "prevailing" (union) wages to be paid on federal construction | | |contracts | | |May, KreditAnstalt, Austria's largest bank, collapses | | |May 1st, New York's 102-story Empire State Building dedicated | | |June 5th, Chancellor Bruning announces that Germany was no longer going to pay reparations under the Young Plan | | |July 23rd, Macmillan report on Britain's international finances released, pointing out that Britain's short-term | | |liabilities to foreigners is several times the size of Britain's gold reserves. | | |September 21st, Britain goes off the gold standard, the first major power to do so. | | |September, Japan invades Manchuria | | |October 16th, New York Federal Reserve Bank's discount rate raised from 1.5 percent to 2.5 percent. | | |October 17th, mobster Al Capone was convicted of income tax evasion and sentenced to 11 years in prison. (He was | | |released in 1939.) | | |October 23rd, New York Federal Reserve Bank's discount rate raised from 2.5 percent to 3.5 percent. | | |December, Japan leaves the gold standard | | |December 11th, New York Bank of the United States collapses | | |By year's end, 2,293 banks have suspended operations during 1931 | |1932 |January 22nd, Reconstruction Finance Corporation created | | |March 1st, Charles...
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