Реферат: Facts Of The Great Depression Essay Research

1923

?President Warren Harding dies in office; his administration seemed to me, to be one of

the most corrupt in American history. Calvin Coolidge, who is squeaky clean by

comparison, becomes president. Coolidge is no less committed to laissez-faire and a

non-interventionist government. He announces to the American people: “The business of

America is business.”

?Supreme Court nullifies minimum wage for women in District of Columbia.

1924

?The Ku Klux Klan reaches the height of its influence in America: by the end of the year

it will claim 9 million members. It will decline drastically in 1925, however, after

financial and moral scandals rock its leadership.

?The stock market begins its spectacular rise. Bears little relation to the rest of the

economy.

1925

?The top tax rate is lowered to 25 percent – the lowest top rate in the eight decades since

World War I.

?Supreme Court rules that trade organizations do not violate anti-trust laws as long as

some competition survives.

1928

?The construction boom is over.

?Farmers’ share of the national income has dropped from 15 to 9 percent since 1920.

?Between May 1928 and September 1929, the average prices of stocks will rise 40

percent. Trading will mushroom from 2-3 million shares per day to over 5 million. The

boom is largely artificial.

1929

?Herbert Hoover becomes President. Hoover is not as committed to laissez-faire ideology

as Coolidge.

?More than half of all Americans are living below a minimum subsistence level.

?Annual per-capita income is $750; for farm people, it is only $273.