-
Europeans owed each other massive war debts. Money was not circulating globally after World War I.
-
Many banks began to fail throughout the 1920s. Many people borrowed credit from the banks, and could no longer sustain themselves including farmers.
-
The Great Depression lasted about a decade from 1929-1939.
-
From 1929-1932, Herbert Hoover was president. He did not want the government to assist the people when the depression hit.
-
The stock market crashed and lost 11% of its value.
-
The wealthy investors lost all their money. In a few days the market lost 30 billion dollars.
-
Franklin Delano Roosevelt was in office from March 4, 1933- April 12, 1945. He attempted to relieve the American people from the depression.
-
Congress and FDR passed many acts to help the Great Depression such as the Civilian Conservation Corps, Federal Deposit Insurance Corporation, and Agricultural Adjustment Act during FDRs first 100 days as president.
-
By 1933, 1 out of 4 people were unemployed.
-
Farmers were already struggling due to the failure of banks, but the Dust Bowl in the midwest of the USA made circumstances more difficult for farmers during the Great Depression.
-
FDR and congress passed more acts to help stop the Great Depression such as the Work Progress Administration, Social Security Act of 1935, and the National Labor Relations Act.
-
The USA made the majority of supplies for the allies pulling Americans out of the depression.
