The pre-New Deal (1930-33) continues: Republican (fascist/socialist) President Hoover signs the Public Works and Unemployment Relief Act, authorizing 116,000,000 “Dollars” in Federal “make-work” projects.
[restored 7/1/2022]
The Chelsea Bank and Trust Company, of New York City, is forced into receivership (bankruptcy).
Postscript: Over the next three days, 20 smaller banks, in six states, became insolvent. Over the next year there were over two-thousand bank failures across the nation.
[updated 9/19/2020]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Calvin D. Linton, ed. The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 323.
us events
www.duke.edu/~charvey/Country_risk/chronology/us-events.htm
Herbert Hoover – White House Statement on Public Works and Unemployment Relief.
www.presidency.ucsb.edu/ws/index.php?pid=22495&st=&st1=
Current U.s. National Debt:
