1932
Roosevelt Elected President
When Roosevelt was inaugurated on March 4, 1933, the U.S. was at the nadir of the worst depression in its history. A quarter of the workforce was unemployed. Farmers were in deep trouble as prices had fallen by 60%. Industrial production had fallen by more than half since 1929. Two million people were homeless. By the evening of March 4, 32 of the 48 states—as well as the District of Columbia—had closed their banks.