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Causes of Great Depression
The stock market, centered at the New York Stock Exchange on Wall St. in New York City, was the scene of reckless speculation, where everyone from millionaire tycoons to cooks and janitors poured their savings into stocks. As a result, the stock market underwent rapid expansion. -
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Bank Runs and The Hoover Administration
Large numbers of investors lost confidence in the solvency of their banks and demanded deposits in cash, forcing banks to liquidate loans in order to supplement their insufficient cash reserves on hand. Bank runs swept and thousands of banks had closed their doors. -
FDR and The New Deal
During Roosevelt’s first 100 days in office, his administration passed legislation that aimed to stabilize industrial and agricultural production, create jobs and stimulate recovery. In addition, Roosevelt sought to reform the financial system, creating the Federal Deposit Insurance Corporation (FDIC) to protect depositors’ accounts and the Securities and Exchange Commission (SEC) to regulate the stock market and prevent abuses of the kind that led to the 1929 crash. -
Leading Up to World War II
Hitler consolidated power and began the rearmament of Germany, secretly and in violation of the Versailles Treaty. Signed alliances with Italy and Japan against Soviet Union and sent troops to occupy Austria and Czechoslovakia. -
Long, Hard Road To Recovery
The Federal Reserve decided to increase its requirements for money in reserve. This second severe contraction reversed many of the gains in production and employment and prolonged the effects of the Great Depression through the end of the decade. -
The Great Depression Ends And WWII Begins
Because we where starting war, many jobs were available and many people donated materials to build up ships, aircraft, etc... -
Outbreak of World War II
Hitler invaded Poland from the west; two days later, France and Britain declared war on Germany, beginning WWII. -
WWII In The West
Germany invaded Norway and occupied Denmark and war began in earnest on April 9. On May 19, German forces swept through Belgium and the Netherlanders in what became known as "blitzkrieg". On June 14, German forces entered Paris. Franc was divided into two zones; one under German military occupation and the other under Petain's government, installed at Vichy. -
Operation Barbarossa
Hungary, Romania and Bulgaria joined the Axis, and German troops overran Yugoslavia and Greece that April. Hitler’s conquest of the Balkans was a precursor for his real objective: an invasion of the Soviet Union, whose vast territory would give the German master race the “Lebensraum” it needed. The other half of Hitler’s strategy was the extermination of the Jews from throughout German-occupied Europe. On June 22, Hitler ordered invasion of Soviet Union, code named Operation Barbarossa -
WWII In Pacific
Japanese aircraft attack the major U.S. naval base at Pearl Harbor in Hawaii, taking the Americans completely by surprise and claiming the lives of more than 2,300 troops. Germany and the other Axis Powers promptly declared war on the United States. -
The Great Depression Ends and WWII Begins
More and more private sector jobs open. The Japanese attack on Pearl Harbor in December 1941 led to America’s entry into World War II, and the nation’s factories went back in full production mode.
