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The recession begins in August, two months before the crast. During the period, production declined at an annual rate of 20%, wholesale prices at 7.5 percent and personal income at 5 pecent.
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The day the Market crashed. Looses for the month totalled $16 Billion.
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An Act To provide revenue, to regulate commerce with foreign countries, to encourage the industries of the United States, to protect American labor, and for other purposes.
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President Herbert Hoover asks Congress to fund a $150 million public works program.
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Hoover's Wickersham Commission reports that enforcement of Prohibition has become almost impossible.
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by the end of the year 2,293 banks have suspended operations during 1931.
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raised top tax rates from 25% to 63%
reduced personal exemptions from $1,500 to $1,000 for single persons
reduced personal exemptions from $3,500 to $2,500 for married couples
imposed the first gas tax in the United States, at 1 cent per gallon sold -
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liberalized the terms under which member banks could borrow from the Federal Reserve
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He defeats Herbert Hoover to become the 32nd President (electoral vote count 472 to 59)
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providing for federal bank inspections
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identifying those veterans and dependents of veterans who were entitled to a persion
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an Act of Congress that cut the salaries of federal workers and reduced benefit payments to veterans, moves intended to reduce the federal deficit in the United States.
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Congress passes the Emergency Banking Bill, the Glass-Steagall Act of 1933, the Farm Credit Act, the National Industrial Recovery Act and the Truth-in-Securities Act.
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Authorizing paying farmers not to grow crops
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Recovery begins.
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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.
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This attempt not only fails, but outrages the public.
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This is due to Roosevelt's weakened political power.
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it borrows and spends $1 billion to build its armed forces. From 1939 to 1941, when the Japanese attack Pearl Harbor, U.S. manufacturing will have shot up a phenomenal 50 percent!
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Being that all the nations begin to prepare for war.