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Between 1929 and 1933, over 9,000 banks failed in the United States.
By 1933, about one-third of all U.S. banks had closed. -
Stock prices began falling sharply.
Many borrowers couldn’t repay loans. -
Elected 1929 - 1933
31st President of the U.S. (1929–1933).
Republican, former mining engineer, and humanitarian (helped with WWI food relief). -
a U.S. law that significantly raised import duties to protect American farmers and manufacturers during the early Great Depression -
severe dust storms that devastated the American and Canadian prairies -
makeshift shantytowns of homeless people during the Great Depression -
(Federal Deposit Insurance Corporation) was later created to insure deposits, -
The Scottsboro Boys case involved nine African American teenagers falsely accused of raping two white women in Alabama -
When World War I veterans marched on Washington demanding early bonus payments, Hoover refused and had the military forcibly remove them, which hurt his popularity. -
Franklin D. Roosevelt declared a “bank holiday” to stop the panic. -
Elected 1933 - 1945
The U.S. was in the depths of the Great Depression: banks were failing, unemployment was nearly 25%, and people were losing homes and farms. -
The Black Cabinet was an organized but unofficial group of African-American advisors -
Used radio broadcasts to speak directly to Americans -
National Housing Act of 1934 -
reversed the assimilationist policies of the past by ending the forced allotment of tribal lands and providing tribes with the right to self-determination -
created the social insurance program to provide income to retired workers, as well as benefits for survivors and people with disabilities.