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In 1932, the Chicago school system was also in tatters and the banking industry went into a tailspin as many of the banks who had invested in the electric company "The Common Wealth Edison" busted during the Great Depression as the stock market crashed. [11] In May 1932, Al Capone began serving his 11-year sentence for tax evasion, in Atlanta, GA.
The Chicago Plan was a comprehensive plan to reform the monetary and banking systems in the United States introduced by University of Chicago economists in 1933. The Great Depression had been caused in part by excessive private bank lending, so the plan proposed to eliminate private bank money creation through fractional reserve lending.
The Great Depression proved too much for the railway to bear, and in 1934 the entire route was abandoned. Several of the lightweight cars used during the final decade of service on the Illinois Valley Division were transferred to the suburban operations in St. Louis run by the Illinois Terminal Railroad , successor to the ITS, and these cars ...
Anton Joseph Cermak (May 9, 1873 – March 6, 1933) was an American politician who served as the 44th Mayor of Chicago from April 7, 1931, until his death in 1933. [1] He was killed by Giuseppe Zangara, whose likely target was President-elect Franklin D. Roosevelt, but Cermak was shot instead after a bystander hit the perpetrator with a purse.
As an American bank robber and Depression-era outlaw, he committed numerous bank heists in Michigan, Ohio, Kentucky, and Oklahoma, and teamed up with George Birdwell and Pretty Boy Floyd during the early 1930s. [2] George Clarence "Bugs" Moran: 1893–1957 "Bugs" Moran was a Chicago Prohibition-era gangster.
The Chicago Black Renaissance was influenced by two major social and economic conditions: the Great Migration and the Great Depression. The Great Migration brought tens of thousands of African Americans from the south to Chicago. Between 1910 and 1930 the African American population increased from 44,000 to 230,000. [8]
The lessons of the generation that weathered the Great Depression include self-sufficiency, frugality, and improvisation. See how to tap those notions today. 12 Things We Can Learn From the Great ...
The Great Depression was a severe global economic downturn from 1929 to 1939. ... Unemployed men standing in line outside a depression soup kitchen in Chicago, 1931.