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Less Expenditures
Since the roaring 20s were so prosperous, people were spending their money on new object and restaurants, living the life of luxury. Yet since they bought so much in the 20s, there was no need for it in the 30s, therefor people quit spending. This lowered many people's income and caused some to lose their jobs. -
Stock Market Crash of 1929
Out of the events that lead up to it, the Stock Market crashing was what officially sent America into the Great Depression. Stockholders lost billions of dollars, and though the stock market began to regain some of its losses afterwards, what they regained just wasn't enough to bring the U.S. out of this troubling time. -
The Smoot-Hawley Tarrif
To protect the failing American companies, the U.S. created the Smoot-Hawley Tarrif. This increased taxes on imports, but reduced trade between the U.S. and forgein countries. -
Bank Failers
Throughout the 1930s, over 9,000 banks failed. At the time, deposits were not insured. Therefor, when the banks failed the depositers savings vanished and lost. Because of the unstable economy banks were weary about lending loans. This only worsened the situation and lead to less spending. -
The Dust Bowl
A drought plaguing over twenty states took place during 1930, which only added to the Depression. The Dust Bowl shortened a farmer's growing season or stopped it completely. This cut many farmer's income which made them unable to pay their taxes, causing them to have to sell their farms and homes. -
The CCC is Founded
The Civilian Conservation Corps was a public work relief program that helped people find work during the Depression and started to improve the economy. -
WWII
Germany invaded Poland on September 1,1939, starting the World War II. The United States would later enter the war, but the war ended the depression.
