2. What started the Great Depression? Many believe the depression started because of Black Tuesday, the day that the stock market crashed on October 29, 1929. However, there are some people who believe that the stock market crashed Because of the depression, rather then starting it. Even Rockfeller had believed this omptistic idea. Indeed, the depression got better in the early part of 1930, but had sunk once again by April.
3. Who where effected? Nearly everyone was effected by the depression. Banks had lost money because of panicked people quickly withdrawing, and because of having loaned to people who couldnât pay back. Because of this, they had to foreclose businesses, who in turn had to lay off workers in order to have enough money to keep their business alive. Even farming was being hurt because of low crop prices, meaning they weren't getting enough money from selling crops.
4. Other countries The US was not the only country having a depression. Almost every country was effected, even wealthy countries. America wasnât even the worse effected either. The cause of the world wide depression is thought to be caused from the previous war. President Hoover declared that the US was âfundementally soundâ, and that we where just feeling the effects of the world wide depression.
5. New Deal Presented in 1933 by Franklin Roosevelt, the New Deal was created to try and help the country out of itâs depression. It was a deal to leave behind the âlaissez-fairâ (govn. Letting buisnesses do their own thing) and for the gov to once again start regulating things. It wasnât anything unheard of, yet the rate in which accomplished itâs goals was astonishing.
6. New Deal cont. The first new deal dealt with large businesses to stimulate the economy. Mostly it was made for Rail Roads, Farming, Banking, and Industry. A second new deal was formed in 1934-36 which had the Wagner act, WPA, Social Security, and other things to help tenant farmers and Migrnt workers. However, several programs where rules unconstitutional, and many others got replaced except NRA. In 1936, the Fair Labor Standards act came to play (maximum hours and minimum wages for workers).
7. WPA (Works Progress Administration) and Wagner act. The wagner act was created to limit the ability for employers to create labor unions, collective bargaining, and strikes. However, this act left out those under the Railway Labor act, agricultural employees, domestic employees, supervisors, government workers, and independent contractors. The WPA was the biggest New Deal project. It gave millions jobs for a public project, like building roads and buildings, taking part in media activity. Itâs impact was great enough that nearly every community had something, weather it was a bridge or a pack, constructed by the administration.
8. rates In the US unemployment was roughly 25% threw the 1930s. This, however, was a bit lucky compared to the 33% unemployment rates some other countries experienced. Suicide rates where high in 1930. For every 100,000 people, 15 people committed to suicide. And that is only the US. The rates where higher around the world.
9. houses Many people had lost their homes, cars, and other possessions, trying to repay loans or get back money lost during the crash. Because they couldnât afford to live in normal housing, people found themselves living in Hoover villes, or very shanty towns. There families found themselves in harsh spartan conditions.
