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| 1932, Jan. 7 |
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| Stimson Doctrine enunciated by the secretary of state. Stimson, in notes to Japan and China, stated that the U.S. would not “recognize any situation, treaty or agreement which may be brought about by means contrary to the covenants and obligations of the pact of Paris.” This was in protest against Japanese occupation of Manchuria. | 1 |
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| Feb |
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| Norris Anti-Injunction Act, declaring “yellow-dog” contracts unenforceable before the federal courts, and providing that certain types of activity in labor conflicts should be immune from injunctions. It provided that “no person participating in, or affected by, such disputes shall be enjoined from striking, or from striking for the success of the strike by customary labor-union effort, short of fraud or violence.” The immunity extended to all persons “in the same industry, trade, or occupation” rather than merely to employers and their own employees. | 2 |
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| Feb. 2 |
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| Reconstruction Finance Corporation created with a fund of $500 million and the right to borrow more money, for the purpose of making available government credits to release the frozen assets of financial institutions and to provide aid for the railways. | 3 |
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| Nov |
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| Franklin D. Roosevelt (Democrat) elected president over Herbert Hoover (Republican) by 472 electoral votes to 59. | 4 |
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| Dec. 15 |
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| Default of various European governments in payment of war debts owed to the U.S. | 5 |
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