The aftermath of Black Tuesday, when stocks plummeted in the United States on October 29th, 1929, got the most appropriate historical name ever: the Great Depression. This thing was greatly depressing on a whole number of different levels. There were lots of workers with no work to do, and people were losing their homes and their savings.

Unsurprisingly, U.S. morale sank just about as low as the stock market.

Ever since the Industrial Revolution in the 19th century, America took great pride in the ability to produce the finest goods and services available, in a quick and efficient way. U.S. industry symbolized American power, and when that all came crashing down in the beginning of the 20th century, many people lost more than a little bit of faith.

In his "Great Arsenal of Democracy" speech, FDR proposed U.S. industry step away from manufacturing Linotypes, watches, and cars. Instead, focusing U.S. production capabilities on war supplies, including tanks, bombs, guns, and other munitions, would serve multiple purposes. America would contribute to the war effort without physically deploying troops overseas, and the increased production would create more jobs, which would boost the economy.

It was a win-win.

And FDR was right—the United States became an industrial superpower, producing the weapons and supplies that went a long way to help the Allies defeat the Axis in World War II.