Golden Gate Bridge San Francisco Bay

Description: However, after the Wall Street Crash of 1929, the District was unable to raise the construction funds, so it lobbied for a $35 million bond measure. The bonds were approved in November 1930, by votes in the counties affected by the bridge. The construction budget at the time of approval was $30.1 million. However, the District was unable to sell... ( +expand to view full text )

Description: However, after the Wall Street Crash of 1929, the District was unable to raise the construction funds, so it lobbied for a $35 million bond measure. The bonds were approved in November 1930, by votes in the counties affected by the bridge. The construction budget at the time of approval was $30.1 million. However, the District was unable to sell the bonds until 1932, when Amadeo Giannini, the founder of San Francisco-based Bank of America, agreed on behalf of his bank to buy the entire issue in order to help the local economy.