Work in progress — cycles are added one at a time. Every quote is machine-verified against an archived source; follow the links to read it.
Timeline 1935–1947
Yearly indicator series (each archived from its publisher), an event lane (red = war, amber = economic, grey = political), election years
(dotted), and presidential actions — follow-through mechanisms — placed on the indicators their position's category targets (data/schema/indicator_links.yaml).
The before/after table shows the indicator in the action's year and 1, 2 and 4 years later. That is a reading of what happened next, not a measurement of what the action caused:
many actions and events share the same years.
Events
1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947
The Great Depression (1929-10-24 – 1941-12-07): Economic collapse following the 1929 crash; ~25% unemployment by 1933. The Great Depression Dust Bowl (1930-01-01 – 1940-12-31): Prolonged drought and soil erosion across the Plains. Dust Bowl Townsend old-age pension movement (1933-09-30 – 1936-11-03): Dr. Francis Townsend's $200-a-month pension plan built about two million club members by 1936, pushed Congress toward Social Security, and fed the Union Party. Share Our Wealth movement and Huey Long's assassination (1934-02-23 – 1935-09-10): Long's Share Our Wealth clubs (7.5 million claimed members) threatened a 1936 third-party run until he was shot in Baton Rouge on Sept. 8, 1935; his following passed to Gerald L. K. Smith and the Union Party. The "Second New Deal" (1935) (1935-04-08 – 1935-08-30): Emergency Relief Appropriation Act (WPA), Wagner Act, Social Security Act, Banking Act, Public Utility Holding Company Act and the Wealth Tax Act, all enacted April–August 1935. Schechter decision voids the NIRA (1935-05-27): The Supreme Court unanimously struck down the National Industrial Recovery Act's code system; the NRA and its wage-hour codes lapsed. Italian invasion of Ethiopia (1935-10-03 – 1936-05-09): Mussolini's conquest of Ethiopia; League sanctions failed; the U.S. applied the 1935 Neutrality Act arms embargo. Butler decision voids the AAA (1936-01-06): United States v. Butler (6–3) held the Agricultural Adjustment Act's processing tax and production-control scheme unconstitutional; Congress substituted the Soil Conservation and Domestic Allotment Act (Feb. 29, 1936). Drought of 1936 (1936-06-01 – 1936-09-30): The hottest, driest summer on record across the Plains and Midwest; Roosevelt toured the drought states and called a Des Moines drought conference (Sept. 3) that Landon attended. Spanish Civil War (1936-07-17 – 1939-04-01): Nationalist rising against the Spanish Republic; Germany and Italy aided Franco; the U.S. extended its arms embargo to the conflict in January 1937. Spanish Civil War Sit-down strikes (GM Flint and after) (1936-12-30 – 1937-03-12): The UAW's Flint sit-down forced General Motors to recognize the union (Feb. 11, 1937); a wave of sit-downs followed, and U.S. Steel signed with the SWOC without a strike. The court-reorganization ("court-packing") fight (1937-02-05 – 1937-07-22): Roosevelt's bill to add up to six Supreme Court justices; defeated in the Senate after the Court upheld the Wagner Act and Social Security and Justice Van Devanter retired. Recession of 1937–38 (1937-05-01 – 1938-06-01): Sharp contraction after federal spending cuts and Fed tightening. Recession of 1937–38 1938 midterm elections and the failed "purge" (1938-06-24 – 1938-11-08): Roosevelt campaigned against conservative Democrats in primaries and lost; Republicans gained 81 House and 8 Senate seats, cementing the conservative coalition. World War II (US participation) (1941-12-08 – 1945-09-02): Pearl Harbor declaration to the Japanese surrender. World War II (US participation)
Gross domestic product (nominal, annual) — billions of dollars · FRED (St. Louis Fed) · annual mean of published observations
The Great Depression Dust Bowl Townsend old-age pension movement Share Our Wealth movement and Huey Long's assassination The "Second New Deal" (1935) Schechter decision voids the NIRA Italian invasion of Ethiopia Butler decision voids the AAA Drought of 1936 Spanish Civil War Sit-down strikes (GM Flint and after) The court-reorganization ("court-packing") fight Recession of 1937–38 1938 midterm elections and the failed "purge" World War II (US participation) 1936 election
74.2 161.9 249.6
1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947
1935: 74.241 1936: 84.83 1937: 93.003 1938: 87.352 1939: 93.437 1940: 102.899 1941: 129.309 1942: 165.952 1943: 203.084 1944: 224.447 1945: 228.007 1946: 227.535 1947: 249.616 12
1935: 12 action(s)
• 1935-03-12 message: Message recommending regulation of public utility holding companies — Eight-point federal utility program: publicity, Federal Power Commission control of holding companies, prudent-investment rate base
• 1935-07-05 statute: National Labor Relations Act — An "economic declaration of rights" — the right to make a living and the right to safe savings
• 1935-07-05 statute: National Labor Relations Act — A more equitable distribution of national income — higher reward to labor, lower to speculative capital
• 1935-08-09 statute: Motor Carrier Act — Six-point railroad program — conditional federal support, receivership reform, ICC regulation of trucks and holding companies, consolidation
• 1935-08-14 statute: Social Security Act — An "economic declaration of rights" — the right to make a living and the right to safe savings
• 1935-08-14 statute: Social Security Act — "A new deal for the American people" — work and security through liberal, planned government action
• 1935-08-23 statute: Banking Act of 1935 — Prevent another runaway credit expansion through government information, not government control of credit
• 1935-08-26 statute: Securities Act, Securities Exchange Act, Banking Act, PUHCA — Government as a check on concentrated economic power — "individualism" redefined as equality of opportunity
• 1935-08-26 statute: Public Utility Holding Company Act — Federal regulation of securities and commodity exchanges, interstate holding companies and interstate utility rates
• 1935-08-26 statute: Public Utility Holding Company Act and Federal Power Act (Title II) — Eight-point federal utility program: publicity, Federal Power Commission control of holding companies, prudent-investment rate base
• 1935-08-30 statute: Revenue Act of 1935 ('wealth tax') — A more equitable distribution of national income — higher reward to labor, lower to speculative capital
• 1935-08-30 statute: Revenue Act of 1935 — Raise revenue by graduated income, inheritance and profits taxes, not taxes on necessities
3
1936: 3 action(s)
• 1936-03-01 statute: Soil Conservation and Domestic Allotment Act — Raise staple farm prices by a tariff-equivalent benefit plus voluntary production control, at no cost to the Treasury
• 1936-03-01 statute: Soil Conservation and Domestic Allotment Act (after Butler struck the AAA) — Restore purchasing power to the farming half of the nation
• 1936-09-25 treaty: Tripartite Monetary Agreement — Convene international monetary and economic conferences to stabilize currencies and restore trade
4
1937: 4 action(s)
• 1937-01-14 message: Statement urging extension of the trade-agreements authority — Continue the reciprocal trade agreements to lower barriers against American exports
• 1937-05-24 message: Message on minimum wages and maximum hours — Revive the NRA's principles 'by one device or another' (imputed; the President would not say)
• 1937-06-01 budget: Spending cuts of 1937 and the recession — Balance the federal budget annually within revenues
• 1937-11-16 message: Letter to the FTC on monopolistic practices raising living costs — Vigorously enforce the antitrust laws and restore their efficacy against new corporate devices
8
1938: 8 action(s)
• 1938-03-11 appointment: Thurman Arnold heads the Antitrust Division — Vigorously enforce the antitrust laws and restore their efficacy against new corporate devices
• 1938-04-29 message: Message on curbing monopolies — Vigorously enforce the antitrust laws and restore their efficacy against new corporate devices
• 1938-04-29 message: Message on curbing monopolies — Take power from the 'economic royalists': the mandate of 1932 is to end economic tyranny
• 1938-05-28 statute: Revenue Act of 1938 reduces the undistributed-profits surtax — Defense of the undistributed-profits tax as a loophole-closer; correct imperfections if found
• 1938-06-15 veto: Veto of the farm-loan interest-rate extension — Low interest rates, sounder home financing, better banking
• 1938-06-16 statute: Temporary National Economic Committee created — Vigorously enforce the antitrust laws and restore their efficacy against new corporate devices
• 1938-06-16 statute: Temporary National Economic Committee — Take power from the 'economic royalists': the mandate of 1932 is to end economic tyranny
• 1938-12-13 executive_order: FHA insurance authorization raised — Low interest rates, sounder home financing, better banking
1
1939: 1 action(s)
• 1939-06-29 statute: Revenue Act of 1939 repeals the tax — Defense of the undistributed-profits tax as a loophole-closer; correct imperfections if found
1
1940: 1 action(s)
• 1940-04-12 statute: Trade agreements program renewed — Continue the reciprocal trade agreements to lower barriers against American exports
29 presidential action(s) in 6 year(s) on this series — before/after
Year Actions At year +1 +2 +4 Δ 4y 1935 1935-03-12 message Message recommending regulation of public utility holding companies — Eight-point federal utility program: publicity, Federal Power Commission control of holding companies, prudent-investment rate base Franklin D. Roosevelt partial 1935-07-05 statute National Labor Relations Act — An "economic declaration of rights" — the right to make a living and the right to safe savings Franklin D. Roosevelt kept 1935-07-05 statute National Labor Relations Act — A more equitable distribution of national income — higher reward to labor, lower to speculative capital Franklin D. Roosevelt partial 1935-08-09 statute Motor Carrier Act — Six-point railroad program — conditional federal support, receivership reform, ICC regulation of trucks and holding companies, consolidation Franklin D. Roosevelt partial 1935-08-14 statute Social Security Act — An "economic declaration of rights" — the right to make a living and the right to safe savings Franklin D. Roosevelt kept 1935-08-14 statute Social Security Act — "A new deal for the American people" — work and security through liberal, planned government action Franklin D. Roosevelt kept 1935-08-23 statute Banking Act of 1935 — Prevent another runaway credit expansion through government information, not government control of credit Franklin D. Roosevelt superseded 1935-08-26 statute Securities Act, Securities Exchange Act, Banking Act, PUHCA — Government as a check on concentrated economic power — "individualism" redefined as equality of opportunity Franklin D. Roosevelt kept 1935-08-26 statute Public Utility Holding Company Act — Federal regulation of securities and commodity exchanges, interstate holding companies and interstate utility rates Franklin D. Roosevelt kept 1935-08-26 statute Public Utility Holding Company Act and Federal Power Act (Title II) — Eight-point federal utility program: publicity, Federal Power Commission control of holding companies, prudent-investment rate base Franklin D. Roosevelt partial 1935-08-30 statute Revenue Act of 1935 ('wealth tax') — A more equitable distribution of national income — higher reward to labor, lower to speculative capital Franklin D. Roosevelt partial 1935-08-30 statute Revenue Act of 1935 — Raise revenue by graduated income, inheritance and profits taxes, not taxes on necessities Franklin D. Roosevelt partial 74.24 84.83 93 93.44
+19.2 1936 84.83 93 87.35 102.9
+18.07 1937 93 87.35 93.44 129.31
+36.31 1938 87.35 93.44 102.9 165.95
+78.6 1939 93.44 102.9 129.31 203.08
+109.65 1940 102.9 129.31 165.95 224.45
+121.55