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Banks
People couldn't access their savings because banks couldn't produce the cash demanded. The banks closed and left depositors with nothing. This wiped out around 9 million savings accounts. 659 banks closed in 1929 and by 1933 1/4 of banks failed. -
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Farms
Between 1929-1932 roughly 400,000 farms were foreclosed. Farmers couldn't pay morgatages so banks would prepossess the property. Thousands of farm families becausew migrant workers. -
Stock Market Crash
Investers sold 16 million shares in 1 day- many for just pennies per share. A lot of stocks went unsold this day. It took only a matter of hours for it to go down. Any money made in the previous year on stocks vanished. This was the most distressing downturn in the history of the New York Stock Exchange. It was so bad that a lot of investors commited suicide. This may have signaled the Great Depression. -
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Women
The typical women had a working husband but he most likely had taken a pay cut. On the other hand, if the husband lost his job, the family often had enough resources to survive without going on relief or losing all it's possessions. -
Hawley-Smoot Tariff Act
The goal of this was to protect American farmers & manufacturors. America was unable to sell farm goods or manufactured products abroad/ -
Franklin D. Roosevelt
In November of 1932, a new president was elected after President Hoover. The new one was Franklin D Roosevelt, he was the 32nd president of The United States. He won a landslide election. In his first 100 days as president, he passed 15 new pieces of legislation to help the needy, repair the economy, and reform of the American financial system. -
Hoovervilles
Unemployed became homeless. These people made towns of shacks and cardboard. -
Emergency Banking Relief Act
Authorizing the US treasury department to inspect the countries banks and allow only those whp were financing solvent to reopen. -
The Dust Bowl
A drought dried up the fields and deserts and everything like that and strong winds blew dust frrom there all around America. Although the dust came rom the middle of the country, it travled all the way out to the oceans. It even covered New York City. -
Tax
Top Tax raised to 79% -
Emerging
The US begins to emerge from the Depression. US borrows money and spends it to build the armed forces. -
Depression Ending
Despression ending worldwide. World War 2 starts- Hitler invaded Poland.
