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October 1929- Great Depression
Dec 1931- Major Bank Collapse
Nov 1932-Roosevelt Elected
The stock market crash was a four-day collapse of stock prices that began in october 24.
New York's Bank of the Untied States collapses in the largest bank failure to date in american History. $200 million in deposits disappear.
Roosevelt defeated republican incumbent President Herbert Hoover and Roosevelt won in a landslide.
Congress created the Reconstruction Finance corporation to lend $2 billion to financial institutions to prevent further failures.
Franklin Delano Roosevelt launched the New Deal with the emergency banking Act. It closed all U.S. banks to stop evastating failures.
The Gold Reserve Act Prohibited private ownership of gold and doubled its price.
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